The benchmark indices closed in red for the fourth consecutive day. Sensex dips more than 900 points and Nifty slips below 14,000 level.
At close, the Sensex was down 937.66 points or 1.94 per cent at 47,409.93 and the Nifty was down 271.40 points or 1.91 per cent at 13,967.50. About 1053 shares have advanced, 1809 shares declined and 141 shares remain unchanged.
On Nifty 50 index, Tech Mahindra (2.58 per cent), SBI Life Insurance (2.19 per cent), Wipro (2.10 per cent) and ITC (1.37 per cent) were the top gainers for the day, while Tata Motors (-4.17 per cent), Axis Bank (-3.99 per cent), Tata Steel (-3.98 per cent) and GAIL (-3.95 per cent) were the top losers for the day.
On the sectoral front, all the sectoral indices ended in red other than Nifty FMCG which was up by 0.30 per cent. Metal, Pharma and Banking stocks witnessed the maximum selling pressure and all the 3 indices were down by more than 2 per cent.
The BSE Smallcap and Midcap indices lost 0.5 per cent and 1.3 per cent respectively.
Author’s View: Nifty has broken its support at 14,000 and is heading towards 13,800 level. If 13,800 is maintained we can see a recovery in the market or else the downfall may extend till 13,650 level.
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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