MUMBAI (Commodityonline): Indian equity markets opened gap down amid weak global cues. Indices extended losses in opening session led by IT, Metal and Financial stocks.
Indices succumbed in afternoon session tracking weak Dow and European futures. NSE Nifty index breached strong ressistance of 4700 on heavy selling pressure. Sensex plunged over 500 points weighed by heavyweight stocks.
Indices trimmed losses in closing session tracking European cues. European markets soon recovered lost ground after opened in negative territory. Market breadth remained extremely bearish out of thirty Sensex stock only one stock closed with gain.
Midcap and Smallcap indices plunged over 2.05% and 1.72% respectively while benchmark indices fell over 2% each. Broader markets breadth remained extremely bearish.
BSE Sensex closed at 15699.97 with the loss of 365.45 points and at NSE Nifty closed at 4706.45 with the loss of 105.90 points at the end of the day. BSE Midcap index closed at 5514.11 with the loss of 115.22 points and BSE Smallcap index closed at 5975.99 with the loss of 104.58 points.
In percentage term key losers were Jaiprakash Associates Ltd (NSE: JPASSOCIAT), Infrastructure Development Finance Company Ltd (NSE: IDFC) and Ranbaxy Laboratories Ltd (NSE: RANBAXY) while key gainers were NTPC Ltd (NSE: NTPC) and Reliance Communications Ltd (NSE: RCOM).
On sectoral front almost all the sectoral indices closed in red. Major selling was seen in Capital Goods, IT, Oil & Gas, Banking & Financial, Metal, Realty and Auto sectors. Markets breadth on BSE remained negative were 733 advances against 2095 declines stocks.
From the perspective of weight in Nifty key losers were Reliance Industries Ltd (NSE: RELIANCE), Infosys Ltd (NSE: INFY) and HDFC Bank Ltd (NSE: HDFCBANK) while key gainers were NTPC Ltd (NSE: NTPC).
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