Markets closed in the red lead by Axis Bank & SBI ::HDFC Sec, report

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Statistics

The 30-share Sensex ended down 117 points at 28,883 and the 50-share Nifty closed down 33 points at 8,724. In the broader market, both the BSE Midcap index, down 0.2 % and Smallcap index closing flat performed marginally better than the front-liners. Market breadth in BSE ended negative with 1,548 declines against 1,352 advances.  NSE cash turnover was at Rs. 20212 cr.

Sectors & Stocks

BSE Capita Goods index, down 1.8%, was the top loser followed by BSE Bankex, down 1.2% and BSE Consumer Durables index down 1.1%. On the gaining side, BSE Metal emerged as the top gainer and surged over 2% followed by BSE Realty and Healthcare indices which gained around 0.9% each. ONGC extended its yesterday?s rally and higher by 2.4%. Sesa Sterlite extended gains and was up 2.3%. Hindalco gained around 3.5% and Tata Steel was up 1.7%. Axis Bank declined around 4.7%, ICICI Bank was down around 0.8%, housing finance major HDFC ended lower by 0.6% and SBI was down 2.5%. L&T and BHEL ended lower 1.9% and 3.8% each.

Way forward

Nifty is making lower top lower bottom formation from last 3 sessions. Nifty finally closed down by 0.38% on a volatile session. If  in coming session Nifty trade & sustains above  8730 level then traders may see bounce in the Nifty, which could lead Nifty to 8835 followed by 8865 level. If Nifty sustains below 8730 level then traders could expect  Nifty to trade up to 8690 level followed by 8630 level.