FIIs were net sellers with the tune of Rs 1128.6 cr (prov. cash market fig).
The BSE 30-share Sensex was down 208.82 points or 1.14% to 18,149.87. The index lost 254.67 points at the day's low of 18,104.02 in late trade. The Sensex fell 4.42 points at the day's high of 18,354.27 in mid-morning trade. The S&P CNX Nifty was down 64.50 points or 1.17% to 5,446.65 after gyrating between 5,510.05 and 5,435.30 so far during the day. The BSE Mid-Cap index slipped 0.29% and the BSE Small-Cap index declined 0.38%. Both these indices outperformed the Sensex. The total turnover amounted to Rs 2979 crore, lower than Wednesday's Rs 3288.25 crore.
The market breadth was negative. On BSE, 1652 shares declined while 1231 shares advanced and a total of 116 shares remained unchanged. The breadth oscillated between positive and negative zone earlier in the day.
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VIEWS FROM DIFFERENT BROKING HOUSES:
SKP SECURITIES: “Nifty may face resistance at 5550-5630 and take Support at 5400-5320”.
FAIRWEALTH SECURITIES: “Nifty is expected to trade in the range 5446-5563 in the next session. Sustaining below this range it may test 5408 and 5373 levels. However, 5608 is another resistance level. Traders are suggested sell at rise keeping in view the resistance and support levels. Again, Bank nifty may trade in the range 10777-11090 with other resistance levels 10150 and 10280. However, 10680 may act as a strong support level. Capital goods and Metals may appear stronger while IT and Real estate may face selling pressure”.
KARVY STOCK: “The market will take cues from the global markets and is expected to open on a flat to positive tomorrow. Trade long in Nifty from current levels else from 5430 with stop loss placed below 5400 targeting 5470–5500 levels”.
PINC RESEARCH: “Support is at 5440/5410/5370 whereas resistance is at 5550/5600/5625 level. Observation from the last few days indicates that selling is reluctant at lower levels closer to around 5400 level. We may see a positive trend emerging which could have the potential for an upside breakout however that would depend on more development. The pivotal level from where the short term positive structure appears sustainable remains at 5600-5625. We suggest a wait and watch approach for the next few days as long as the level of 5600-5625 is not violated. We see no reason yet to revise our positive bias for the market”.
ANGEL BROKING: “Today, Nifty would have a support at 5,421 and resistance at 5,513 and BSE Sensex has support at 18,054 and resistance at 18,374”.
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