Nifty mark lowest close in six months; Yes Bank falls 14%
How well the EQSIS recommendations performed today 22 August?
1. EQSIS Intra: Short ACC below 1459.9 Target 1436 Stop above 1479 CMP 1464
Closing Bell: Nifty mark lowest close in six months; Yes Bank falls 14%
The broader NSE Nifty ended 177 points lower at 10,741 levels. The headline index nifty ended lower on Thursday at their lowest closing level since February 20, on the back of a broad-based selling pressure amid slowdown effects in the economy. Meanwhile, markets awaited news on an economic stimulus from the Indian government and US Federal Reserve chairman’s speech later this week.
All sectoral indices, except the Nifty IT ended in red for the day. Nifty Realty was the major loser in trade today plunging 6% followed by Nifty PSU Bank, Nifty Private Bank, Metal, Financial Services, and Banking sector gauges also fell between 2 and 3.5 percent each.
Yes Bank was the major loser in the Nifty pack, falling 13.91 percent as investors were worried about the corporate governance issues reported in CG Power.
Technical View: Nifty heading towards crucial support, forms bearish candle again
Nifty slumped to their lowest levels in around six months and drifted sharply towards the 10,700 marks in the second half of the session. It formed a bearish candle on the daily scale and heading towards its crucial support at the 10,650 marks. The overall index structure is under pressure. Nifty could extend its weakness towards the next strong support at 10,650 while on the upside, hurdles are seen at 10,900 and then 11,000 levels.
Best And Worst Nifty 50 Performers Today
Morning Update: Nifty slips below 10,900 mark
The Nifty 50 index was down 40 points at 10,875. The Nifty slipped below 10,900 mark. Key equity index nifty opened lower and extended losses as the session progressed. Negative cues from other Asian markets spoiled investors sentiment.
All indices are in the red, except Nifty FMCG, which is up 0.82%.
Top percentage laggards on the 50-scrip index at the time were India bulls Housing Finance, Bajaj FinServ, Adani Ports, Vedanta, Bajaj Finance, and JSW Steel, trading between 1.92 per cent and 6.19 per cent lower.
The market breadth, indicating the overall health of the market, was weak. On NSE, 380 shares rose and 1131 shares fell. A total of 81 shares were unchanged.
On the currency front, the Indian rupee opened flat at 71.56 per dollar on Thursday vs. its previous close of 71.55/USD.
FII & DII data
The foreign institutional investors (FIIs) bought shares worth Rs 770.81 crore on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 353.97 crore as on August 21th, 2019.