Stock Market Highlights: Sensex tanks 599 points, Nifty ends below 15,100 level

Stock Market Highlights: Sensex tanks 599 points, Nifty ends below 15,100 level

The benchmark indices closed in red dragged by Metal stocks. The Nifty ended below 15,100 level while the Sensex was down close to 600 points.

The market opened with a gap down due to weak global cues, saw some bounce and again witnessed profit booking towards the close. At close, the Sensex was down 598.57 points or 1.16 per cent at 50,846.08 and the Nifty was down 164.80 points or 1.08 per cent at 15,080.80.

About 1580 shares have advanced, 1350 shares have declined and 183 shares remain unchanged.

On the Nifty 50 index, UltraTech Cement (4.23 per cent), Shree Cement (3.54 per cent), Adani Ports (3.10 per cent), Grasim (2.45 per cent) and Dr Reddys Labs (1.61 per cent) were the top gainers for the day, while JSW Steel (-3.28 per cent), Hindalco (-2.75 per cent), HDFC Ltd. (-2.71 per cent), Tata Motors (-2.67 per cent) and Bajaj Finserv (-2.56 per cent) were the top losers for the day.

On the sectoral front, apart from Nifty Realty (0.11 per cent), all other Nifty sectoral indices ended in red led by Nifty Metal & Nifty Bank which were down 2.01 per cent and 1.56 per cent respectively.

The BSE Midcap and Smallcap indices were up by 0.48 per cent and 0.80 per cent respectively.

Author’s View: It is likely that Nifty might trade between 15,050 – 15,250 levels. Traders should build fresh long positions after there is a decisive breakout over 15,250 level.

Disclaimer:  The view/s expressed above are only for educational/awareness purpose. or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.

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