The benchmark indices ended in red for the second consecutive session with Nifty below 14,950 mark dragged by Metal stocks.
At close, the Sensex was down 337.78 points or 0.68 per cent at 49,564.86 and the Nifty was down 124.20 points or 0.83 per cent at 14,906.
About 1614 shares have advanced, 1397 shares declined and 161 shares remain unchanged.
On the Nifty 50 index, M&M (2.35 per cent), Cipla (2.24 per cent), BPCL (1.87 per cent), IndusInd Bank (0.88 per cent) and Titan Company (0.67 per cent) were the top gainers for the day, while Tata Steel (-5.08 per cent), Hindalco (-4.49 per cent), Coal India (-3.42 per cent), Britannia (-3.16 per cent) and ONCG (-2.70 per cent) were the top losers for the day.
On the sectoral front, except Nifty Realty (1.02 per cent) and Nifty PSU Bank (0.36 per cent) all other sectoral indices ended in red. Nifty Metal (-3.21 per cent), Nifty Bank (-1.04 per cent) and Nifty Financial Service (-0.93 per cent) were the top losers for the day.
The BSE Midcap index was down 0.16 per cent while the Smallcap index rose 0.22 per cent.
Author’s View: Nifty was successful in defending and closing above an important support of 14,900. 14,900 mark is a make or break level for the index. If Nifty breaks this level downwards we may head towards 14,750 level. If Nifty sustains above 14,900 we may again cross 15,000 mark and move towards a new all-time high.
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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