Markets closed in the red lead by Banks and Auto ::HDFC Sec, report

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Statistics

 The 30-share Sensex lost 133 points to end at 28,718 mark and the Nifty slipped 51 points to close at 8,661. Markets breadth on the BSE ended weak with 2,010 shares declining and 863 shares advancing. Among broader markets, BSE Midcap and Smallcap indices underperformed the benchmark indices- BSE Midcap and Smallcap indices plunged between 1-2% . NSE cash turnover was at Rs. 17307 cr.

Sectors & Stocks

On the sectoral front, BSE Auto index was the top loser down nearly 3% followed by Healthcare, Bankex, Oil & Gas and Power indices down over 1%. However, BSE IT, Teck and FMCG emerged as the gainers and were up nearly 1% each.  Tata Motors, M&M, Hero Moto, Bajaj Auto and Maruti Suzuki slipped between 0.5-5%. Axis Bank, HDFC Bank, SBI and ICICI Bank dipped between 0.5-2.5%. GAIL and Tata Steel slipped between 1-3%. BHEL, Tata Power, Coal India, ONGC and RIL were some of the notables losers and lost between 1-5%.

Hang Seng index fell 0.4%, to 24,679.39, while the Shanghai Composite Index lost 1.9%, to 3,076 points. The DAX is down 0.66% while France's CAC 40 has lost 0.27% and London's FTSE 100 is lower by 0.06%.

Way forward

Nifty is making lower bottom formation from last 5 sessions. Nifty closed in  the negative by 0.58% but Bank Nifty fell the most by 1.42%. Bank Nifty also filled the gap made on 15th January 2015, which shows bearishness in the Banking stocks. If  in coming session Nifty trade & sustains above  8670 level then traders may see bounce in the Nifty, which could lead Nifty to 8720 followed by 8780 level. If Nifty sustains below 8660 level then traders could expect  continuation of down move in Nifty which could lead up to 8630 level followed by 8570 level.