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| Edited By: Sachin P Mampatta |Source: DNA |Updated: Mar 16, 2018, 05:42 AM IST
The Sensex was down 83.73 points to close at 15467.46. It was down 0.54% from the previous close on Tuesday. Among the global indices Asia mainly in the red.
The Nikkei was down 2.37%, while the Hang Seng was down 1.76%. The Shanghai Composite index beat the trend with a gain of 1.16%.
Europe was also trading in negative territory. Analysts are preparing for a downward trend for the moment. “Nifty will have support at 4576 and 4558. If it falls below we may see further down trend in the coming future, on the other hand if it can close above 4650 then Nifty may test 4785 in the short-term,” said Alex Mathews Head, Research Centre – Geojit BNP Paribas Financial Services Limited.
IT was the top gainer among the sectoral indices going up by just under 1%. The Auto index was down 1.36% while Realty slipped 1.76%. Capital Goods dropped 1.26% and Power was down 1.08%. The National Stock Exchange bellwether was down 0.37% to close at 4608.35. The index gained 17 points.
There were 20 gainers and 30 losers among the stocks that make up the Nifty. BPCL led the pack, adding 5.45% to close at Rs. 540.60. Rcom was down 4.66% and closed at 276.10. HCL Tech, Jindal Steel and Reliance Capital were the other gainers of the day.
Among the stocks that saw major declines, National Aluminium was down 4.26% to close with a loss at Rs. 330.65. Sterlite was down 3.43% and ended the day at Rs. 633.95. BHEL, Mahindra and Mahindra; and Bharti Airtel also made it to the list of top five losers.
Although the Chinese market is likely to weigh on India sugar, automobile and oil marketing stocks may out perform the short term, suggested Alex Mathew.
