Market Outlook - Fairwealth Securities

Heavy selling pressure in the final hour caused Indian indices to shed all earlier gains and turned into red. REALITY and IT faced major selling pressure accompanied by profit booking in METALS and BANKING. SENSEX closed at 19983, down 185 points from its previous close, and Nifty closed at 6027, down 48 points.

The CNX MIDCAP index was down 0.03% and the BSE SMALLCAP index was up 0.1%. The market breadth was negative with advances at 610 against declines of 680 on the NSE.

Top gainers included HEROHONDA, CIPLA, ACC, MARUTI, ICICIBANK, GAIL, DRREDDY and AMBUJACEM. Top losers are listed as INFOSYSTCH, HINDALCO, DLF, TATASTEEL, SBIN, IDFC and SESAGOA. The FIIs were net buyers with buying amounting to Rs.107.12cr (prov cash market fig.)

Source : Equity Bulls

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