Mumbai: The Indian stock market closed with a decline in Thursday's trading session. Selling was seen in almost all market indices. The reason for the recession is believed to be the increasing tension between Russia and Ukraine.
At the end of trading, Sensex was at 77,155, down 422 points or 0.54 per cent, and Nifty was at 23,349, down 168 points or 0.72 per cent. The market trend was negative. On the Bombay Stock Exchange (BSE), 1235 shares closed in the green, 2,735 shares in the red and 95 shares closed without any change.
Along with largecap, midcap and smallcap also saw a decline. The Nifty Midcap 100 index closed at 54,385, down 162 points or 0.30 per cent, and the Nifty Smallcap 100 index closed at 17,596, down 80 points or 0.46 per cent. The biggest impact of the decline was seen in Auto, PSU Bank, Fin Service, Pharma, FMCG, Metal and Energy indices. Only IT, realty and private bank indices closed in the green.
Power Grid, UltraTech Cement, HCL Tech, Kotak Mahindra Bank, Axis Bank, TCS, ICICI Bank and Infosys were the top gainers in the Sensex pack. SBI, NTPC, ITC, Asian Paints, Bajaj Finance, Bajaj Finserv, Reliance Industries, IndusInd Bank, Titan, Tata Motors and HUL were the top losers. Jatin Gedia, Research Analyst at Sharekhan, said Nifty opened the trading session with a gap down and closed over 160 points down after trading in a tight range. With this, Nifty has broken the important level of 23,350 and is now moving towards 23,180. In case of bullish momentum, 23,500 is an important resistance level.
Gedia further said that Bank Nifty has touched the 200 moving average of 49,800 on Thursday. However, recovery was seen from there and it closed 253 points lower. 50,000 to 49,800 is going to be an important support zone for Bank Nifty. At the same time, the level of obstruction is from 50,900 to 51,000.
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