Nifty Shed 62 Points, a Winning 7-Day Snap with Streak


Published Date : Feb 20, 2015

Equities set out an impressive seven-day upsurge earlier on Friday. The profit emerged as the benchmark Nifty plunged by a fierce 62 points on the National Stock Exchange (NSE). 

However, there was extreme caution that was brought back into the spotlight after two major events, added the F&O expiry and the government of India and its future Union Budget. 

It’s been a week for the trade to start that now intensifies the key indices to its downside as trading slopes down and the market for grave selling is maintained throughout the session. 

Many places in Asia ended with higher equities due to Japanese stocks trading to multiyear highs for the second session inflated this year. This was due to the weaker currency and also the stabilizing euro zone business activity.   

Nifty again declined to 61.70 points to finish at 8,833.60 after a jump to an intra-day low of 8,816.30 throughout the trade session. 

Among the varied indices, CNX Energy declined by the highest score by many other key stocks by Infra, Technology, Financials, and Metal. 

In the trend of FMCG, Auto, Realty and Healthcare had the strongest rebound. Many other mid-cap and small-cap indices outpaced the benchmark indices. 

Petrochem also topped the sellers list with 3.21 percent. 

Other industry and major laggards that joined the table included Bharti Airtel, HDFC, TechM, ONGC, Power Grid Corp, HCL-Tech, Wipro, Maruti, Infosys, TCS, Sun Pharma, L&T, HDFC Bank, HUL, Ultracemco, Kotak Bank, ICICI Bank, Axis Bank, Tata Power, Asian Paints, and Cipla.

There were many other competitive gainers that also gained substantial attention during the session.