Market Still Continues Declining Trend: IT Sector Gains, Energy Drag

Mumbai: Nifty stayed volatile during the whole day, it found resistance around 17300; however, the index failed to fall below 17000. The trend is probably to stay sideways in the near term.

Over the near term, the Nifty may move within the range of 17000-17300. A conclusive fall below 17000 may set off selling pressure in the market. On the higher end, a decisive move over 17300 may instigate a rally towards 17600.

The domestic business sectors continued their declining trend for the second consecutive session on Monday. The 30-share BSE Sensex fell by 200 points or 0.34 percent to settle at 57,991 and the 50-share Nifty50 declined by 73 points or 0.43 percent to end at 17,241.

Stock Market Top Gainers and Losers:

In the 30-share BSE Sensex, 11 stocks were gainers at the closing time and the remaining 19 were losers.

Sensex Top Gainers:

1) Axis Bank shares ended at Rs 776.75, up around 3 percent from Friday’s closing price.

2) TCS shares ended at Rs 3121.20, up around 2 percent from Friday’s closing price.

3) Maruti TPC shares ended at Rs 8865.55, up around 1 percent from Friday’s closing price.

4) Tech Mahindra shares ended at Rs 1032.05, up around 1 percent from Friday’s closing price.

5) Wipro shares ended at Rs 411.25, up around 1 percent from Friday’s closing price.

Sensex Top Losers:

1) Asian Paint shares ended at Rs 3281.00, down around 2 percent from Friday’s closing price.

2) Titan shares ended at Rs 2679.60, down around 2 percent from Friday’s closing price.

3) ITC shares ended at Rs 327.95, down around 2 percent from Friday’s closing price.

4) Reliance Industries shares ended at Rs 2405.75, down over 1 percent from Friday’s closing price.

5) HDFC shares ended at Rs 2302.80, down over 1 percent from Friday’s closing price.

In the 50-share Nifty index, 15 stocks were gainers at the closing time and the remaining 35 were losers.

Nifty50 Top Gainers:

1) Axis Bank shares ended at Rs 778.70, up over 3 percent from Friday’s closing price.

2) TCS shares ended at Rs 3,124, up around 2 percent from Friday’s closing price.

3) HDFC Life shares ended at Rs 533.30, up over 1 percent from Friday’s closing price.

4) Wipro shares ended at Rs 412.90, up over 1 percent from Friday’s closing price.

5) Eicher Motor shares ended at Rs 3,538, up over 1 percent from Friday’s closing price.

Nifty50 Top Losers:

1) Tata Motors shares ended at Rs 396.55, down around 4 percent from Friday’s closing price.

2) Tata Consumer shares ended at Rs 758.70, down around 3 percent from Friday’s closing price.

3) Hero Moto shares ended at Rs 2,571.75, down over 2 percent from Friday’s closing price.

4) Asian Paint shares ended at Rs 3,280, down around 3 percent from Friday’s closing price.

5) ITC shares ended at Rs 328.15, down around 2 percent from Friday’s closing price.