MUMBAI (Commodityonline): Indian equity markets opened gap down amid weak Asian cues. Indices extended losses led by Capital Goods, Oil & Gas and Financial stocks. NSE Nifty index breached key psychological level of 5000 in opening session.
Indices remained range bound in afternoon session. Indices recovered most of the losses tracking positive European cues. Recovery led by short covering in Metal, Auto and Realty stocks in afternoon session. However, markets ended in red after turning volatile in last hour of trade.
Markets breadth remained negative on heavy selling in Midcap and Smallcap stocks. Both the indices closed with loss of 0.94% and 1.34% respectively.
BSE Sensex closed at 16775.87 with the loss of 106.80 points and at NSE Nifty closed at 5030.45 with the loss of 38.05 points at the end of the day. BSE MIDCAP index closed at 5851.92 with the loss of 55.27 points and BSE SMALLCAP index closed at 6374.79 with the loss of 86.59 points.
In percentage terms key losers were Steel Authority of India Ltd (NSE: SAIL), SIEMENS Ltd (NSE: SIEMENS) and Jaiprakash Associates Ltd (NSE: JPASSOCIAT) while key gainers were Jindal Steel & Power Ltd (NSE: JINDALSTEL), Mahindra & Mahindra Ltd (NSE: M&M) and State Bank of India Ltd (NSE: SBIN).
On sectoral front major selling was seen in Capital Goods, Oil & Gas and IT sectors while muted buying was seen in FMCG, Metal and Auto sectors. Market breadth on BSE remained negative were 864 advances against 1991 declines stocks.
From the perspective of weight in Nifty key losers were Larsen & Toubro Ltd (NSE: LT), Reliance Industries Ltd (NSE: RELIANCE) and Housing Development Finance Corporation Ltd (NSE: HDFC) while key gainers were ITC Ltd (NSE: ITC), State Bank of India Ltd (NSE: SBIN) and Mahindra & Mahindra Ltd (NSE: M&M).
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