3rd Feb -Markets closed in the red on volatile session :: HDFC Securities

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Statistics

The 30-share Sensex ended down 122 points at 29,000 and the 50-share Nifty closed 41 points lower at 8,757. In the broader market, the BSE Mid-cap and Small-cap indices were trading flat with negative bias. Market breadth was weak with 1,435 losers and 1,315 gainers on the BSE. NSE cash turnover was at Rs. 21662 cr.

Sectors & Stocks

Bankex was the top loser down 2.1% followed by Healthcare, Power and Realty indices. The BSE Oil and Gas index was the top gainer up 1.8% followed by Consumer Durables and FMCG indices among others.

HDFC Bank, ICICI Bank and SBI ended down 1.5-2.5%. HDFC closed 3% lower. Maruti Suzuki and M&M down 0.1-3.7% each. Tata Motors ended up 1.7%. RIL has gained 3.2%. ITC has gained over 1% while its peer HUL gained around 0.6%.

Way forward

Nifty is making lower top lower bottom formation from last 2 sessions. Nifty finally closed down by 0.46% on a volatile session. If  in coming session Nifty sustains above  8730 level then traders may see bounce in the Nifty, which could lead Nifty to 8835 followed by 8865 level. If Nifty trades below 8730 level and sustains below for 15 mins then traders could expect  Nifty to trade up to 8690 level followed by 8630 level.