Stock Market Highlights: Sensex slips 531 points, Nifty below 14,250

Stock Market Highlights: Sensex slips 531 points, Nifty below 14,250

After a volatile trading session, the benchmark indices closed in red. Nifty ended below 14,250 and the Sensex fell 531 points.

At close, the Sensex was down 530.95 points or 1.09 per cent at 48,347.59 and the Nifty was down 133.00 points or 0.93 per cent at 14,238.90. About 915 shares have advanced, 2009 shares declined and 152 shares remain unchanged.

On the Nifty 50 index, Grasim (6.55 per cent), UPL (3.74 per cent), Cipla (3.53 per cent) and Hero Motocorp (2.96 per cent) were the top gainers for the day, while Reliance (-5.30 per cent), Indusind Bank (-4.94 per cent), HCL Tech (-3.89 per cent) and Tata Motors (-3.53 per cent) were the top losers for the day.

On the sectoral front, Nifty IT (-1.76 per cent), Nifty Infra (-1.61 per cent), Nifty Realty (-0.78 per cent), Nifty Auto (-0.78 per cent), Nifty Energy (-2.82 per cent), Nifty FMCG (-0.73 per cent) and Nifty PSU Bank (-0.97 per cent) closed in red, while Nifty Metal (0.15 per cent), Nifty Pharma (1.71 per cent) and Nifty Bank (0.10 per cent) managed to close in green.

The BSE Midcap and Smallcap indices lost more than 1 per cent each.

Author’s View: Despite a gap up opening the bears took the charge completely. 14,170 – 14,200 will act as an important support for Nifty. If this level is broken then Nifty may move towards it’s next support at 13,800.

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.

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