Mumbai, Aug 2 (IANS) Indian equity indices closed in the deep red on Friday session following profit booking on higher levels.
At closing, Sensex fell 885 points or 1.08 per cent to 80,981 and Nifty was down 293 points or 1.17 per cent at 24,717.
The decline resulted in over Rs 4 lakh crore loss in market capitalisation (MCAP) for all listed companies on the BSE.
Selling was seen in the broader markets. The Nifty Midcap 100 index closed at 57,913, down 576 points or 0.99 per cent, and the Nifty Smallcap closed at 18,800, down 149 points or 0.79 per cent.
Except Pharma, all other indices closed in the red. The biggest decline was in Auto, IT, PSU Bank, Metal, Realty and Infra indices.
In the Sensex pack, Maruti Suzuki, Tata Motors, JSW Steel, Wipro, Tata Steel, L&T, M&M, and TCS were the top losers. HDFC Bank, Sun Pharma, Kotak Mahindra Bank, and Nestle were the top gainers.
Rupak De, Senior Technical Analyst, LKP Securities said: “Nifty has slipped sharply amid a global sell-off. Technically, it has drifted down after forming a spinning top on the daily timeframe. The RSI indicator has turned downward, indicating a bearish crossover. The market appears to be favouring ‘sell on rise’ traders as long as it remains below 24,800. On the downside, Nifty might drift towards 24,530 or 24,400.”
–IANS
avs/vd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
