Nifty ends below 6000…after 2-weeks

After enjoying its stay above the 6000 levels for nearly 2-weeks the NSE Nifty has finally ended below the psychological levels. Yet again, intensified selling in the last hour of the session dragged benchmark indices to end in the red, extending its losing streak to fifth straight trading session.



The sharp slide was led by the Metals, Realty, Consumer Durable stocks. Even the breath was negative. Out of total 3071 stocks on the BSE, 1837 stocks ended with negative bias and 1084 ended in the green, while 150 stocks remained unchanged.

"Market players simply ignored global cues as today’s fall was seen despite a recovery in the European markets, even the Asian markets ended off days low," says Amar Ambani, Head of Research (India Private Clients) - IIFL.

The BSE Sensex lost 111 points to close at 19,872. The NSE Nifty lost 43 points to close at 5,985.

Barring the BSE Capital Goods and the Pharma index all the other sectoral indices ended in the red. BSE Metal index was the top loser, losing by 2.2%, followed by the BSE Realty index (down 1.3%) and BSE Consumer Durables index (down 1.1%).

The broader indices ended almost flat with slight negative bias, the BSE Mid-Cap index ended almost unchanged and BSE Small-Cap index ended marginally slipped by 0.5%.

The European indices were trading higher, the DAX in Germany was up 0.2%, the CAC 40 index in France also up 0.4% and FTSE index was up 0.3%.

Outside the frontline indices, the big losers in the broader market were Indian Bank, Biocon, M&M Fin and Bajaj Finserve. On the other hand, gainers included Jubilant Org, Central Bank, IDBI Bank and Canara Bank.