Nifty50 opened below 7680 with huge downward gap; hovered around 7600 level. After making day's low at 7556, finally Nifty50 closed 2.23% lower at 7568. India Volatility Index-IndiaVix traded in GREEN and closed 14% higher at 18.9. NSE Advance Decline Ratio(ADR) hovered around 0.1 and closed near 0.1. This means out of total 10 stock, 9 stocks were traded and closed in RED. On NSE USD-INR January expiry future closed 0.14% higher at 67.10 INR.
Bank Nifty closed 2.2% lower. NiftyAuto Index closed 3.7% lower. NiftyMetal Index closed 4.7% lower. NiftyPharma Index closed 1,9% lower. NiftyFMCG closed index 2.17% lower. NiftyIT Index closed 1.4% lower. NiftyReality Index closed 4.96% lower.
Reliance closed % 1.3% lower. Welspun Corp closed 3.76% lower. TataSteel closed 6.6% lower. SunPharma closed 0.66% lower. Infy closed 1.57% higher. TCS closed 0.11% lower. Oberoi Reality closed 3.3% lower. Four PSU Banks Canara Bank, PNB, SBI, BankIndia made fresh 52 week Low. Axis Bank also made fresh 52 week low. ICICI Bank closed 1.27% lower. SBI closed 3.27% lower. TataMotor closed 5.77% lower.
Chinese stock market fell by 7% and trading was suspended. That has triggered jitters in major stock markets across the Globe. Indian Market was also fell in line with its Global peers.
On NSE, Turnover in Equity segment was LOWER than previous session, whereas Turnover in Derivative segment was HIGHER than previous session. As per EoD provisional statistics, FII/FPIs sold equity worth 1050 crore INR(net), and DIIs bought equity worth 190 crore INR(net).
On NSE, Turnover in Equity segment was LOWER than previous session, whereas Turnover in Derivative segment was HIGHER than previous session. As per EoD provisional statistics, FII/FPIs sold equity worth 1050 crore INR(net), and DIIs bought equity worth 190 crore INR(net).
At the end of session, India Vix is placed in RED. NSE ADR is placed well below 0.2 . Both these together indicates negative sentiment. Nifty50 is placed near to its double bottom support level at 7550. Therefore, any gap down opening below this support level may see sharp V shape intraday recovery to test 7550 level with intraday volatility in next session. In alternate scenario, in case Nifty50 opens above key support level of 7550, then sideway movement is expected in next session. In Nutshell, Overseas market will be influential factor in coming session.
Disclaimer :-
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 : 7 - January - 2016 23:00 hours IST
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