Nifty Futures ends near 5 day low - Religare

Nifty futures opened higher but failed to build the momentum upwards correcting swiftly in the second half of the day to close near the day's low. Nifty futures closed down by 31.1 points at 6036.1 with a premium of 37.2 point to the spot closing of 5998.90.

There was mixed price variation in sectors with infrastructure, oil & gas, pharma sectors gained while banking, metals and telecom sector saw some profit booking in other sectors. The advance declines ratio was also mixed with 89 advanc-es and 64 declines in the derivatives segment. Capital Goods, Banking and Realty sectors gained the maximum open in-terest.

Nifty futures have ended near the 5 day low and one should turn bullish only above 6080 levels for the upward momen-tum. The immediate resistances are placed at 6100 levels while on the downside supports are placed at 6000 and 5980 levels.

Key benchmark indices edged lower as domestic benchmark Nifty could not sustain its initial gains. On the BSE sectoral front Consumer Durable and Healthcare were the sectors that gained maximum momentum and closed 1.77% and 0.77% up respectively. On the other hand Realty and Auto were the sectors that remained on the sellers radar and closed 1.16% and 0.98% lower to their previous closing. In line with major indices, the advance decline ration at the Bombay Stock Exchange re-mained negative with 969 advances and 1179 declines. On Friday, two major frontlines Bharti Airtel LImited and BHEL announced their Q3 numbers and both dis-appointed the street by posting poor numbers.

Source : Equity Bulls

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