Mumbai, March 26 (IANS). The Indian stock market closed in a red mark in Wednesday’s trading session. There was all -round selling in the market. At the end of the trading, the Sensex fell 728 points or 0.93 percent to 77,288 and the Nifty fell 181 points or 0.77 percent to 23,486.
The reason for the decline in the market is believed to be profit booking after the recent rise. IT, Financial Services, Pharma, Realty, Energy, PSE and Services Index closed with weakness. Only the auto index is closed in the green mark.
The Nifty was witnessing a boom since the last seven trading sessions. During this period, a jump of about 5.7 percent was recorded in the Nifty and Sensex.
Along with largecap, selling was also seen in midcap and smallcap. The Nifty Smallcap 100 index fell by 172 points or 1.07 percent to 15,936 and the Nifty Midcap 100 index fell 323 points or 0.62 percent to close at 51,646.
The Sensex pack had IndusInd Bank, HCL Tech M&M, Power Grid and Titan Top Gainers. NTPC, Jomato, Tech Mahindra, Bajaj Finance, Axis Bank, Infosys, Maruti Suzuki, Kotak Mahindra, SBI, HUL and Bharti Airtel were the top loosers.
LKP Securities Technical Analyst Metapors Dee says that the Nifty has slipped from its moving average in the short term. Currently, the support for NSE benchmark is at 23,300. In such a situation, the decline can go to this level.
He further said that however, if the Nifty slipped below 23,300, then the level of 21,964 can be seen. At the same time, 23,550 is a blockage level.
The Indian stock market started flat. At around 9.29 am, the Sensex was trading 78.19 points or 0.10 percent to 78,095.38, while the Nifty was 46.80 points or 0.20 percent to 23,715.45.
Foreign institutional investors (FIIs) purchased equity worth Rs 5,371.57 crore on 25 March, while domestic institutional investors (DIIs) sold equity worth Rs 2,768.87 crore on the same day.
-IANS
ABS/
