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This article is more than 3 year old.

Market closes in the red on weak global cues

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The biggest fall was seen in midcaps, with the leading index slipping 277 points to 18,183.

Market closes in the red on weak global cues
The Indian market closed in the red,  in line with global peers. The Sensex fell 273 points to 35,21 while the Nifty lost 98 points to 10,671.
The biggest fall was seen in midcaps, with the leading index slipping 277 points to 18,183. A drag in midcaps kept the market breadth in favour of declines with the advance-decline ratio at 1:6.
ICICI Bank was the biggest loser despite recovery made in the last hour of trade. The stock closed below 50-day moving average with a fall of over 3%.
Other major index losers were Reliance, L&T, BPCL and SBI. In falling market, HDFC Bank and  IT stocks were seen fighting for the bulls. Support for IT also came in from currency market as well with Rupee slipping to 19-month low. Another key Index, Nifty Bank slipped 178 points to 26,423.
In the futures market, Put call options of 10,700 and 10,800 shed over 1,000,000  shares each in open interest with premiums moving between 125 and 164% higher.
And, amongst Call, 10,800 and 10,700 options added 1-2 lakh shares each in open interest with premiums slipping 77-89%. Nifty June futures closed almost narrowed the gap, closed at the same level as Nifty spot.
On the global front, Asian stocks closed lower, led by the drop in China markets as investors digested the yuan's extended move lower amid trade worries as oil prices rose. The Nikkei 225 slipped 0.3% to close at 22,272 with banks and automakers in negative territory.
Energy sector stocks, however, rose following the boost in oil prices, but shippers and air transport names declined. In Seoul, the Kospi closed lower by 0.4% at 2,342 as gains in blue chip technology stocks failed to buoy the broader index amid declines in other sectors, including automakers and manufacturing names. Index heavyweight Samsung Electronics and SK Hynix jumped 2% & 1.1% respectively, while Posco dropped 3.2%. Elsewhere, markets in China slumped.
The Shanghai composite fell 1.1% to close at 2,813 and the smaller Shenzhen composite lost 1.3%. The benchmark Shanghai Index began the day already in bear market territory, referring to a drop of at least 20%. The blue-chip CSI 300, meanwhile, tumbled 2%. Hong Kong's Hang Seng Index gave up slight gains seen earlier in the day to decline 1.8% as all sectors but energy declined before the market close.
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