The Indices Ended Near Day's Low, PSU Banks Outperformed

The Indices Ended Near Day's Low, PSU Banks Outperformed

Nifty & Sensex close near day’s low dragged by pharma, auto and metal stocks. PSU banks gain.

At close, the Sensex was down 465.01 points or 0.95 per cent at 48,253.51 and the Nifty was down 137.70 points or 0.94 per cent at 14,496.50.

About 1374 shares have advanced, 1534 shares declined and 169 shares are unchanged.

On the nifty 50 index, SBI Life Insurance (2.53 per cent), ONGC (1.81 per cent), BPCL (1.31 per cent), Bajaj Finance (1.16 per cent) and Adani Ports (0.97 per cent) were the top gainers for the day, while Tata Consumer Products (-4.70 per cent), Cipla (-3.49 per cent), Dr Reddys Labs (-2.29 per cent), Divis Labs (-2.18 per cent) and Reliance (-2.17 per cent) were the top losers for the day.

On the sectoral front, except Nifty PSU Bank all other sectoral indices ended in the red.

The BSE Midcap and Smallcap indices were down 0.50 per cent and 0.57 per cent respectively.

Author’s View: Nifty is still trading above 14,400 which means the support is intact. However, if this support is broken we can see 14,150 – 14,200 levels on Nifty. 14,700 will act as stiff resistance for the index.

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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