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Nifty Closes Below 15,650 & Sensex Slips More Than 300 Points


Nifty Closes Below 15,650 & Sensex Slips More Than 300 Points
SHARES

Market gave up its initial gains to close in red. Nifty closed below 15,650 and the Sensex slips more than 300 points. All the sectoral indices ended in red.

At close, the Sensex was down 333.93 points or 0.64 per cent at 51,941.64 and the Nifty was down 104.70 points or 0.67 per cent at 15,635.40.

About 1425 shares have advanced, 1697 shares declined and 139 shares remain unchanged.

On the Nifty 50 index, Power Grid Corp (3.44 per cent), SBI Life Insurance (1.91 per cent), NTPC (1.64 per cent), Titan Company (1.07 per cent) and Divi’s Labs (0.62 per cent) were the top gainers for the day, while Tata Motors (-2.66 per cent), Adani Ports (-2.47 per cent), Larsen (-1.93 per cent), Shree Cements (-1.89 per cent) and Reliance (-1.79 per cent) were the top losers for the day.

On the sectoral front, all the sectoral indices ended in red.  Nifty Realty (-1.66 per cent), Nifty PSU Bank (-1.43 per cent) and Nifty Auto (-1.28 per cent) were the top losing sectors for the day.

The BSE Midcap and Smallcap indices were down 0.71 per cent and 0.95 per cent respectively.

Author’s View: Although we saw some profit booking in today’s session the view on Nifty still remains positive as it did not break 15,600 on closing basis. This dip can be utilized to build fresh long positions for target of 15,850 – 15,900.

Disclaimer:  The view/s expressed above are only for educational/awareness purpose. Mumbailive.com 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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