Tuesday, 29 August 2017

Nifty Snaps 4 Day Gaining Streak, Ends Below 50-DMA

Posted by suhani varma on Tuesday, August 29, 2017 with No comments
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Markets ended their trade in red strongly led by bearish sentiments. Nifty in the mid-market hours breached the 9800 mark and again slipped below the crucial level. Nifty 50 index ended below 50-DMA at 9810 level. Sensex lost over 350 points majorly led by HDFC twins, Infosys and Reliance Industries. Both the benchmark indices lost over 1% at the closing hours of trade.Tech Mahindra was the top Nifty gainer finishing its today’s trade up 1.23% at Rs 433 per share.

Bank Nifty closed lower by 248 points or 1.02% at 24,128 levels.All sectoral indices on BSE ended in red wherein BSE Telecom was the top loser slipping 1.87%. NTPC was the biggest index loser after Government has diluted its stake via OFS. The stock closed lower by 2.88% at Rs 168.35 per share on BSE. Nifty closed lower by 116 points at 9796 level. BSE Sensex closed lower by 362 points at 31,388 level.

BSE Mid-cap index closed lower by 130 points at 15,277. BSE Small-cap index closed lower by 166 points at 15,651. India VIX closed higher by 7.1% at 13.54.There were 385 advances, 1099 declines and 35 unchanged stocks on NSE reflecting a negative undertone floating in the market.Tech Mahindra, M&M and ZEE Entertainment Enterprise are the top Nifty gainers, whereas Bank of Baroda, NTPC and Hindalco are the top Nifty losers.NTPC Limited, a public sector power generation company’s offer for sale gets over-subscribed on Tuesday. The non-retail portion of NTPC OFS got oversubscribed by 1.41 times.  
 
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