MUMBAI (Commodityonline): Indian equity markets opened flat amid weak global cues. Indices gave up early morning gain back profit booking. Finacial, Realty and Capital Goods stocks led the losses in opening session. On the other hand Oil and Gas and IT stocks witnessed buying in opeing session.
Markets remained range bound in afternoon session. European markets opened in green but slowly dragged in to negative territory which led further selling pressure in local markets. Markets plunged in closing session. Financial and Realty stocks buthchered in closing session.
Markets breadth remained extremely bearish. Heavy sell off witnessed in Midcap and Smallcap stocks. Both the indices closed with loss over 3% each. Both benchmark indices Nifty and Sensex ended with loss of 1.8% and 1.5% respectively.
BSE Sensex closed at 18145.25 with the loss of 283.36 points and at NSE Nifty closed at 5505.35 with the loss of 101.80 points at the end of the day. BSE MIDCAP index closed at 6375.69 with the loss of 228.65 points and BSE SMALLCAP index closed at 6969.06 with the loss of 233.06 points.
In percentage terms key losers were Reliance Communications Ltd (NSE: RCOM), State Bank of India Ltd (NSE: SBIN) and DLF Ltd (NSE: DLF) while key gainers were Bharat Petroleum Corporation Ltd (NSE: BPCL), Tata Consultancy Services Ltd (NSE: TCS) and Sun Pharmaceuticals Industries Ltd (NSE: SUNPHARMA).
On sectoral front almost all the sectoral indices closed in red barring IT sector closed narginally in green. Major selling was seen in Realty, Consumer Durable, Metal, Banking & Financial, Capital Goods and Auto sectors. Market breadth on BSE remained negative were 753 advances against 2237 declines stocks.
From the perspective of weight in Nifty key losers were State Bank of India Ltd (NSE: SBIN), ICICI Bank Ltd (NSE: ICICIBANK) and Axis Bank Ltd (NSE: AXISBANK) while key gainers were Tata Consultancy Services Ltd (NSE: TCS), Infosys Ltd (NSE: INFY) and ITC Ltd (NSE: ITC).
Courtesy: www.makemystocks.com
