Indices Witness Profit Booking, Nifty Closes At Lower End
Suparna / 13 Mar 2014
Due to profit booking in major sectors such as IT, Healthcare and Metals the Indian markets closed the day in negative territory. IT bellwether Infosys stocks tanked down by 8.54%. The 50 share Nifty closed the day lower by 23 points at 6493 and BSE 30 closed down by 81 points to trade at 21774. BPCL was up more than 7% on the bourses today.
The Indian markets witnessed a steady and stable positive move till mid-session. However indices wilt under massive amounts of selling in closing session. Major selling saw in IT, Health Care and Metal sectors. The Nifty closed negative by 23 points at 6493 and Sensex was 81 points lower by 21774.
The advance-decline ratio on NSE was on the negative side as the day ended with 1553 shares in green and 1829 shares in the red zone.
Top Nifty Gainers: BPCL gained 7.48% in today’s trade, followed by Kotak Mahindra, M&M, HDFC Bank and ONGC.
Top Nifty Losers: Infosys closed the day lower by 8.54%, followed by DLF, Sun Pharma, JP Associates and Jindal Steel.
The sectoral indices closed on mixed note. Oil & Gas and Bankex were the out performer of the day up 131 points and 126 points respectively. Auto and Capital Goods also witnessed a pull up around 50 points each. However Mid-Caps and Small Caps saw some negative trade. IT and Health Care were hammered well down by 379 points and 105 points respectively.
On the Asian markets front, the Nikkei market closed in negative territory, down by 14 points. Hang Seng closed on negative note down by 145 points. However Shanghai Composite and KOSPI closed on the positive side.
Buzzer: BPCL was up more than 7% on the bourses today and closed near the technical level of Rs 440. If the stock opens above this level, it may touch the Rs 455 mark in the next few sessions.
Nifty futures has major support around 6500 as we had mention in our last update. If it’s open below this level, may see more profit booking trade.
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