Tuesday 15 March 2016

Nifty Shuts Below 7500...Defensives Lead The Fall

Posted by suhani varma on Tuesday, March 15, 2016 with No comments

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After remaining in a narrow trading band for the past five days, bears were on the offensive as defensives led the fall. The Indian equity markets lost ground on Tuesday amid weakness in equity markets across the globe. The rupee too after strengthening for a week, showed some signs of weakness. The rupee traded down 20 paise at 67.40 per US dollar. Participants preferred to take some money off the table ahead of the FOMC meet.

Defensives led the fall today; healthcare index slumped 3% while FMCG index fell by 1.5%. The IT, auto, telecom and industrial indices were among the other major losers. SBI, Bank of Baroda, PNB, Bosch, Tata Steel, Yes Bank and Bharti Airtel were among the gainers on NSE, whereas Lupin, HDFC, ZEEL, Dr.Reddy's and ITC were among the losers today.

Finally BSE Sensex ended with a loss of 253 points at 24,551. The BSE Sensex opened at 24,832, touched an intra-day high of 24,841 and low of 24,517. The NSE Nifty closed with a loss of 78 points at 7,461. The NSE Nifty opened at 7,536 hitting a high of 7,545 and low of 7,453.

On the global front, China’s Shanghai Composite Index ended marginally higher by 0.17% and Hang Seng slipped 0.7%. In Europe, the FTSE 100 was trading down 0.62%. On the other hand, DAX and the CAC 40 were trading down 0.5% each. The India VIX (Volatility) index was up 2.89% at 17.5975. Out of 1,423 stocks traded on the NSE, 952 declined and 424 advanced today.

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