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Sensex Loses 340 Points, Nifty Closes Below 14,900


Sensex Loses 340 Points, Nifty Closes Below  14,900
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The indices gave up four day’s winning streak backed by weak cues from the global markets. Banking & IT Stocks were under pressure.

At close, the Sensex was down 340.60 points or 0.69 per cent at 49,161.81 and the Nifty was down almost 100 points or 0.61 per cent at 14,850.80.

On the Nifty 50 index, Coal India (5.88 per cent), NTPC (4.64 per cent), IOC (4.59 per cent), ONGC (3.69 per cent) and BPCL (1.88 per cent) were the top gainers for the day, while JSW Steel (-3.22 per cent), Hindalco (-3.04 per cent), Kotak Mahindra (-2.98 per cent), HDFC (               -2.65 per cent) and Divis Labs (-1.59 per cent) were the top losers for the day.

On the sectoral front, Nifty Metal, Nifty Pharma, Nifty IT, Nifty Consumption, Nifty FMCG and Nifty Financial Service ended in red, while Nifty Infra, Nifty Realty, Nifty Auto, Nifty Energy and Nifty PSU Bank ended in green.

The BSE Midcap and Smallcap Indices gained 0.60 per cent and 0.80 per cent respectively.

Author’s View: Nifty has a stiff hurdle over 15,000 and a strong support around 14,750. Traders should wait for a breakout in either direction to initiate a fresh position.

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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