Markets ended marginally negative ahead of March expiry ::HDFC Sec

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Markets ended lower amid choppy trades as investors turned cautious ahead of March F&O expiry which is due tomorrow. The 30-share Sensex ended 50 points lower at 28,112 and the 50-share Nifty declined 12 points to close at 8,531. In the broader market, both the BSE Midcap index, down 0.5% and Smallcap index, down 0.7% underperformed the front-liners. Market breadth on the BSE ended weak with 1,889 declines against 906 advances. NSE cash turnover was at Rs. 16373 cr.

Sectors & Stocks

On the sectoral front, BSE Capital Gods, Metal, Oil & Gas, Power indices ended lower up to 1.7%. However, BSE Healthcare, IT and Auto indices gained up to 1%. HDFC Bank and Axis Bank are marginally higher by 0.2%. SBI is down 0.8%. L&T declined 2.5%, BHEL dipped 1%. Tata Steel dropped 1.4% and Coal India slumped 2.5%. ONGC, GAIL and RIL ended lower up to 3%.

Way forward

Nifty in todays session opened on a flat note & felled by making lower top lower bottom formation on intraday basis. Nifty  finally closed in the marginally negative by 0.14%. If  in coming session Nifty sustains above 8520 level then traders may see reverse in the trend, which could lead Nifty to 8570 followed by 8620 level. If Nifty trades below 8520 level  then traders may see correction in Nifty up to 8470 level followed by 8430 level .  Traders may see volatile session on account of March expiry. Traders have build new positions in 8600 Call level followed by 8550 Call.