Markets ended sharply lower after consolidating in the last two sessions. A correction was due as the markets had run up quite significantly in the last two and a half months. Heavyweights witnessed huge selling pressure ahead of F&O expiry on Thursday.
The BSE Sensex finally closed 323.99pts or 2.33% lower at 13,589.23. The Nifty shed 120.85pts or 2.85% to settle at 4,116.7. Broad market indices lost more. While the BSE Midcap index ended 3.4% lower, the BSE Small Cap index lost 3.12%. This explains the negative market breadth as A/D ratio was 0.91:1 on the BSE.
Barring the BSE IT index, all the sectoral indices ended lower. The top losers were the BSE Realty, Bankex, Capital goods and Consumer Durables indices. The top losers from the BSE-30 were RCom, Ranbaxy, Tata motors, NTPC and ICICI Bank. The top gainers were Hindalco, Infosys, Wipro and Sterlite.
With the markets correcting today, we recommend a cautious approach on fresh longs as there is a strong possibility that the markets may fall further
Source - HDFCSEC
0 comments:
Post a Comment