Stock market wrap-up: NSE Nifty breaks psychological support, Tata Steel and Bank of Baroda in losers list

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NSE Nifty was seen breaking its psychological support of 6150 but remained above the level in the closing. (Reuters) NSE Nifty was seen breaking its psychological support of 6150 but remained above the level in the closing. (Reuters)
SummaryIndian stock markets didn’t sustain on higher levels today even after opening in positive note.

Indian stock markets didn’t sustain on the higher levels today after opening in a positive note because of profit booking ahead of the quarterly numbers arrival. Also, the lack of support from the FIIs and no fresh buying seen in the large cap sector stocks dragged the markets down.

But still buying was witnessed in mid cap and small cap sector stocks which provide a major support to the markets. In the trading hours, NSE Nifty was seen breaking its psychological support of 6150 but remained above the level in the closing.

NSE Nifty today closed at 6162 down around 29 points. The market breadth was flat as there were seen 1274 stocks advancing against 1262 stocks declining. The volatility index stood at 16.32 down around 1.09%.

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The major losers for the day in the sectoral front are the Realty and Metal which closed down around 1.85% and 1.77% respectively.

In the stock’s front, the major gainers were Maruti Suzuki and IndusInd Bank, which closed up around 2.28% and 1.60% respectively and on the other side losers were Tata Steel and Bank of Baroda, which ended lower around 3.75% and 3.32% respectively.

FIIs remained sellers in the cash segment for past two days, sold shares worth Rs 318.91 crore on 06, Monday January 2014. On the other hand the DIIs were also net sellers on 06 January 2014, sold shares worth Rs 22.54 crore as per the provisional data from the stock exchanges.

The European markets were trading higher on the German unemployment data and on the China’s effort to revive its banking sector. The US index futures were trading lower.

By Alex Mathews, Head Research, Geojit BNP Paribas Financial Services Ltd

NOTE: Views expressed are those of the author

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