Markets Poised for RBI Credit Policy tomorrow ::HDFC Sec

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Statistics

The 30-share Sensex ended lower by 61 points at 29,122 mark and the 50-share Nifty slipped by 12 points to close at 8,797. However, broader markets outperformed the benchmark indices- BSE Midcap and the Smallcap indices ended up between 0.5-1.2%. Market breadth ended positive on the BSE with 1,623 shares advancing and 1,288 shares declining. NSE cash turnover was at Rs. 21331 cr.

Sectors & Stocks

On the sectoral front, BSE FMCG index emerged as the top losing index down nearly 1.8% followed by BSE Oil & Gas and Metal which ended lower by 0.5% each. However, BSE Capital Goods was the top gaining index up 1.3% followed by IT and Consumer Durables and Auto indices  up 0.5% each. Axis Bank and HDFC twins surged between 0.4-3.5.%. Sun Pharma soared over 1.3%. ICICI Bank ended down 2.5%. Tata Steel and Sesa Sterlite down 1.6%. Bharti Airtel, Hero Motocorp and NTPC were some of the prominent names in red and lost between 1-3.5%. 

The Hang Seng index fell 0.1%, to 24,484.74, while the China Enterprises Index lost 1.2%, to 11,578.30 points. FTSE 100, DAX and CAC 40 are up between 0.1-0.4%.

Way forward

Nifty fell for the second day after 10 days straight rise. Nifty today filled partial intra-day gap but towards end of the day it has closed above the gap, which suggest Nifty could remain in this level for few more sessions as gap could act as a good support. If  in coming session Nifty sustains above  8775 level then traders may see bounce in the Nifty. If Nifty trades below 8775 level then traders could expect  Nifty to trade up to 8730.