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Nifty Ends Below 14,700, Sensex Falls 471 Points


Nifty Ends Below 14,700, Sensex Falls 471 Points
SHARES

Nifty closes below 14,700, Sensex falls 471 points on the back of weak global cues. Metal and Financial stocks dragged the benchmark indices.

At close, the Sensex was down 471.01 points or 0.96 per cent at 48,690.80 and the Nifty was down 154.30 points or 1.04 per cent at 14,696.50.

About 1571 shares have advanced, 1443 shares declined and 151 shares are unchanged.

On the Nifty 50 index, Tata Motors (3.31 per cent), Titan Company (1.37 per cent), Maruti Suzuki (1.20 per cent), Power Grid Corp (1.14 per cent) and UPL (1.07 per cent) were the top gainers for the day, while Tata Steel (-4.44 per cent), JSW Steel (-3.59 per cent), Hindalco (-3.39 per cent), IndusInd Bank (-3.39 per cent) and HUL (-3.05 per cent) were the top losers for the day.

On the sectoral front, other than Nifty Auto and Nifty PSU Bank all other sectoral indices ended in red. Nifty Metal (-2.97 per cent) and Nifty Bank (-1.28 per cent) were the top losers for the day.

The BSE Midcap and Smallcap indices were down 0.90 per cent and 0.62 per cent respectively.

Author’s View: Nifty closed near 14,700. If the index is unable to hold this level then it could drop till 14,400. If it crossed 14,850 then it may scale up to 15,000 to 15,200.

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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