Bears Remain Active, DLF Down By 3.9%
Suparna / 20 Mar 2014
Taking an impact from the FOMC announcement, coupled with a heavy sell-off in capital goods and Bankex, the markets closed the day in the negative zone. CNX Nifty closed lower by 40 points at 6483 and the BSE 30 was hammered by 100 points at 21740. Asian markets also closed the day in negative territory.
The Indian markets witnessed major profit booking in today’s closing session. Markets were disappointed on FOMC announcement which impacted the movement on both the index. Most of the sectors like Capital Goods, Bankex and Metal lost their gains. As a result, the Nifty closed negative by 40 points at 6483 and Sensex was hammered around 100 points by 21740.
The advance-decline ratio on NSE was on the negative side as the day ended with 1532 shares in green and 1856 shares in the red zone.
Top Nifty Gainers: TCS gained 3.37% in today’s trade, followed by HUL, Wipro, Cipla and Infosys.
Top Nifty Losers: DLF closed the day lower by 3.94%, followed by BPCL, Ambuja Cement, Power Grid and JP Associates.
The sectoral indices closed on negative note. Capital Goods and Bankex saw a nosedive trade today down by 225 points and 188 points respectively. Metals and Auto were hammered more than 100 points each. Mid-Caps and Small Caps also saw some negative trade. However IT and Healthcare made positive closing.
On the Asian markets front, the Nikkei market closed in negative territory, down by 238 points. Hang Seng closed on negative note down by 386 points. Shanghai Composite and KOSPI closed on the negative side too.
Buzzer: DLF was down more than 3.5% on the bourses today and closed below the technical level of Rs 170. If the stock opens below this level, it may touch Rs 160/155 mark in the next few sessions.
Nifty futures closed around its technical level of 6500. The level of 6480/6450 will be the vital support level for tomorrows trading session.
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