The Benchmark Indices End Flat, Financial and Metal Stocks Drag

The Benchmark Indices End Flat, Financial and Metal Stocks Drag

Nifty and Sensex ended marginally lower on the first day of the August series.

At close, the Sensex was down 66.23 points or 0.13 per cent at 52,586.84, and the Nifty was down 15.50 points or 0.10 per cent at 15,763.

About 1808 shares have advanced, 1352 shares declined and 126 shares remain unchanged.

On the Nifty 50 index, Sun Pharma (10.09 per cent), Tech Mahindra (7.25 per cent), Cipla (4.18 per cent), Shree Cement (2.27 per cent) and Adani Ports (2.25 per cent) were the top gainers for the day, while Hindalco (-2.90 per cent), Bajaj Finance (-2.69 per cent), SBI Life Insurance (-2.68 per cent), Bajaj Finserv (-2.58 per cent) and SBI (-2.21 per cent) were the top losers for the day.

On the sectoral front, Nifty Pharma gained 3.6 per cent, while Nifty Auto was up almost 1 per cent. However the Metal and Financial indices ended in red.

The BSE Midcap and Smallcap indices rose 0.5 per cent each.

Author’s View: Nifty is facing strong resistance between 15,850 – 15,900 zone. Short term and medium term supports lie at 15600 and 15400 respectively and as long as these are holding on a closing basis, the propensity of the market continues to be on the upside.

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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