NIFTY BREACHES THE STRONG SUPPORT 5400 AND CLOSED AT 5395. MADE A LOW OF 5369.
It was a disastrous end to the week as benchmark indices nosedived nearly 3% from the top of the day to close at the fresh intermediate low. After staging a strong comeback in the previous trading session, the Indian markets were unable to carry on the momentum amid lack of follow-up buying. Traders and investors preferred to exit their positions ahead of the advanced annual GDP numbers to be announced on Monday.
Relentless selling saw the NSE Nifty close below the 5400 levels while the BSE Sensex just managed to keep its head above 18,000. Sensex lost 441 points to close at 18008 while Nifty ended at 5395, down 131 points. BSE mid-cap and small-cap indices lost 1.4% and 1.6%. For the week, Nifty and Sensex lost 2.1% each. BSE FMCG index plunged 6.4% over the week, becoming the top loser among the sectoral indices, followed by Realty index, down 3.5%.
Steep fall was led by Realty, FMCG, Capital Goods, Banking, IT and Auto stocks. The remaining sectoral indices on the BSE were down 1-2%. Even the Mid-Caps and the Small-Cap stocks were badly battered both the indices slipped over 1.5% each.
However, Foreign Institutional Investors (FIIs) were net buyers in the equity segment worth Rs 1.44 billion on both the BSE and the NSE on Feb. 04, as per provisional data available at NSE. They bought equities worth Rs 25.44 billion and sold equities worth Rs 24 billion.
Reliance Industries contributed fall of 51.44 points in the Sensex. It was followed by ITC (47.21 points), ICICI Bank (46.88 points), Infosys Technologies (42.46 points) and Larsen & Toubro (37.9 points).
Only gainer in the 30-share index was Bajaj Auto (1.27%). On the other hand, Mahindra & Mahindra (5.31%), ITC (4.23%), Reliance Energy (3.76%), Tata Power Company (3.63%), Hindalco Industries (3.58%), and Larsen & Toubro (3.51%) were the major losers in the Sensex.
