Nifty Daily Wrap Up August 10 2017

Benchmark indices extended the losses for the fourth consecutive trading session as the losses were being led by pharma, auto and banking stocks. Nifty finally ended at 9820.25 levels down by -87.80 points or -0.89%. Advance and Decline Ratio in the Nifty stood at 19:32. India VIX ended at 13.80 levels up by 0.35 points or 2.60%.

On the sectoral front, Nifty Auto, Financial Services, Media, Metal, Pharma, PSU Bank and Realty under performed the broader indices while on the flip side Nifty Bank, IT,FMCG and PVT Bank outperformed the broader indices. On the stock front TECHM, AUROPHARMA, INFY, LT and WIPRO were the major gainers of the day while on the flip side TATAMOTORS, TATAMTRDVR, DRREDDY, BANKBARODA and GAIL were the major losers of the day.

On the global markets front, European markets closed on a negative note while FTSE 100 is trading on a negative note at -1.11%, CAC 40 is trading on a negative note at -0.29% and DAX is trading on a negative note at -0.73%. While on the Asian markets front, Nikkei 225 closed flat at -0.05%, Hang Seng closed negative at -1.14% and KOSPI closed negative at -0.38%.

Technically, the immediate support is placed around 9800 levels and the next support is placed around 9750 levels and on the higher side the immediate resistance is placed around 9900 levels and the next resistance is placed around 9950 levels.

About Praveen Pious Francis
A part-time blogger who has a wide range of interests including investing in the stock markets across the globe and broadband technologies in India.

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