Stock Market Highlights: Sensex Halts 10-Day Winning Run, Sheds Over 250 Points

Stock Market Highlights: Sensex Halts 10-Day Winning Run, Sheds Over 250 Points

The benchmark indices closed in red with minor loss in Sensex and Nifty.

The indices opened with a gap up but witnessed profit booking at higher levels and closed the day on a negative note. The IT and FMCG stocks dragged the index down.

At close, the Sensex was down 263.72 points or 0.54 per cent at 48,174.06 and Nifty was down 53.20 points or 0.37 per cent at 14,146.30.

About 1,494 shares have advanced, 1543 shares declined and 128 shares remain unchanged.

On Nifty 50 index, Power Grid Corp (4.34 per cent), Shree Cement (3.89 per cent), GAIL (3.63 per cent) and Hindalco (3.50 per cent) were the top gainers for the day, while ITC (-2.86 per cent) Reliance (-2.64 per cent), Bajaj Finance (-1.73 per cent) and Axis Bank (-1.54 per cent) were the top losers for the day.

On the sectoral front, Nifty IT and Nifty FMCG ended -1.36 per cent and - 1.13 weak, while Nifty Realty and Nifty Infra ended 0.71 per cent and 0.60 per cent strong.  The other indices ended almost flat with minor gain or loss.

Author’s View: Going forward 14,000 – 14,050 will act as a strong support for Nifty and on the upside 14,200 level act as resistance. The direction of the market will be decided on after Nifty breaks the above-mentioned support or resistance.

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