Nifty50 opened in downward gape and hovered around 7740. News of parliament disruption pushed Nifty50 below 7700 level, before final closing at 7701. India VIX traded flat, slipped into RED and finally closed in GREEN. NSE ADR hovered around 1 and deteriorated to close well below 0.5 level. Volume in NSE Derivative segment was higher, whereas Volume in NSE Equity segment was flat. USD-INR Dec. future hovered around 67INR and closed slightly above 67 INR.
All sectoral Indices closed in RED. NiftyReality Index 4% lower. NiftyMetal Index closed 3% lower. Nifty Small Cap Index closed 2% lower. Nifty Mid cap Index closed 1.2% lower. NiftyPharma Index closed 1% lower.
Bank of India closed 3.3% lower. Canara Bank closed 1% lower. Both these stocks made fresh 52week low. SBI closed at 1.3% lower. Jindal steel closed 5% lower. Vedanta closed 4% lower. NMDC and Orissamine made fresh 52 week low and closed 2% lower. Infy closed 0.4% lower. TCS closed 0.3% higher. TechMahindra closed 2.8% lower. IndiaBull RealEstste closed 7.8% lower. NiftyAUTO Index closed flat. Bosch closed 0.3% higher. DrReddy stock witnessed hammering and closed 4.2% lower and made fresh 52week low. Glenmark closed 2.7% lower. SunPharma closed 0.8% lower.
IndiaVix closed in GREEN, NSE ADR is well below 0.5. Together both these indicates market is entering into oversold zone. In next session, gape down opening is expected for Nifty. Depending on further political development, sharp pull back may not be ruled out.
Writer may have position in market/s as per risk profile and market condition. Reader/s must consult financial adviser/s, while acting on provided information. Writer may have discussed similar things with friends in group.
Written Date :- 08.12.2015 Tuesday 17:45 hours IST
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