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Dec 06, 2019 03:39 PM IST | Source:

Closing Bell: Nifty ends below 11,950, Sensex falls 334 pts; PSU banks worst hit

The Sensex was down 334.44 points or 0.82% at 40,445.15, while Nifty was down 104.20 points or 0.87% at 11,914.20.

  • December 06, 2019 04:29 PM IST

    Manav Chopra, CMT, Head Research - Equity, Indiabulls Ventures:

    Nifty in the last session broke below the important support of 12000 and closed below it. Index also closed below its short term moving average and momentum indicators are weakening. The market breadth was also negative. Thus all indicating for a short term correction. Support at 11,800-11,600 and resistance at 12,000-12,100.

  • December 06, 2019 04:21 PM IST

    Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas:

    In terms of the wave structure, the index is forming wave c of a minor degree correction and can roll down towards the junction of the 40 DEMA and the daily lower Bollinger Band, which is near 11,820-11800. On the other hand, the level of 12,000 will now pose as a barrier in case of any pullback.

  • December 06, 2019 03:56 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    The recent decline shows disappointment among the participants post the RBI policy outcome as the majority were hoping for a rate cut. And, since the Nifty has breached its immediate support at 11,900, we may see further profit taking ahead. However, we feel it’s a healthy correction and 11,700-11,800 zone would continue to act as a cushion.

  • December 06, 2019 03:45 PM IST

    Sanjeev Zarbade, VP PCG Research, Kotak Securities:

    The BSE-30 Index declined (0.9%) in the current week. Markets remained weak as major economic data-points remained subdued. Yes Bank, Tata Steel and Sun Pharma were the top losers in the BSE-30 Index, while Bharti Airtel, Kotak Mahindra Bank and TCS were the top gainers. On the economy front, real GDP growth moderated sharply to 4.5% (1QFY20: 5%). However, the MPC kept the repo rate unchanged at 5.15% noting rising inflationary risks despite a continued slump in GDP growth. FPIs sold equities worth USD 66 mn over the past five trading sessions while DIIs bought USD 192 mn worth of equities in the same period.

  • December 06, 2019 03:33 PM IST

    Market Close: Benchmark indices ended lower but off day's low on the back of buying seen in the last hour of trade helped Nifty to close above 11,900 mark.

    At close, the Sensex was down 334.44 points or 0.82% at 40445.15, while Nifty was down 104.20 points or 0.87% at 11914.20. About 863 shares have advanced, 1634 shares declined, and 178 shares are unchanged. 

    Yes Bank, SBI, Zee Entertainment, IndusInd Bank and GAIL were among major losers on the Nifty, while gainers were Bharti Infratel, Kotak Mahindra Bank, JSW Steel, Tata Steel and Dr Reddys Laboratories. 
    All sectoral indices ended lower led by the PSU Banks, auto, pharma, energy, infra, metal and IT.

  • December 06, 2019 03:19 PM IST

    Buzzing: Shares of Shakti Pumps (India) fell over 3 percent on BSE on December 6 after CARE revised the company's credit rating for its long-term bank facilities.

  • December 06, 2019 03:11 PM IST

    RBI imposes penatly on Andhra Bank: Andhra Bank share price shed over 3 percent on December 6 after the Reserve Bank of India (RBI) imposed a penalty of Rs 25 lakh for failing to comply with RBI’s directions on know your customer (KYC) norms, anti-money laundering standards and opening of current accounts.

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