The market witnessed another profit booking session on 19th February. The Sensex closed below 51,000 while Nifty ended below 15,000. The selling today was across the board.
At close, the Sensex was down 434.93 points or 0.85 per cent at 50,889.76 and the Nifty was down 137.20 points or 0.91 per cent at 14,981.80. About 1175 shares have advanced, 1727 shares declined and 170 shares are unchanged.
On the Nifty 50 index, Hero Moto Corp (-3.78 per cent), Tata Steel (-3.88 per cent), SBI (-3.77 per cent) and Tata Motors (-3.71 per cent) were among the major losers while, UPL (2.17 per cent), IndusInd Bank (1.90 per cent), Dr. Reddy’s Labs (1.40 per cent), GAIL (1.61 per cent) and HUL (1.60 per cent) were among the top gainers for the day.
On the sectoral front, all the indices ended in red led by Nifty PSU Bank (-4.76 per cent) followed by Nifty Auto and Nifty Bank which were more than 2 per cent down each.
The BSE Midcap & Smallcap indices were down 1.67 per cent and 0.76 per cent respectively.
Author’s View: After a few days of consolidation Nifty has finally given a break down below 15,000 level. We can expect a further downside movement in Nifty till 14,750 – 14,800 level. On the other hand, the upward trend will continue in Nifty if it gives a breakout above 15,450 level. Traders should be cautious while executing positions.
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