A morning walk down Dalal Street | Selling pressure could accelerate if Nifty slips below 10,850

Episode 1672,  Sep 13, 2019, 01:10 AM

Market snapped 5-day winning streak as profit booking hit D-Street at higher levels on Thursday. The S&P BSE Sensex dropped more than 160 points while the Nifty50 was broke below 11000 levels.

The final tally on D-Street – the S&P BSE Sensex dropped 166 points to 37,104 while the Nifty50 closed 52 points down at 10,982.

Profit booking hit D-Street ahead of the crucial ECB meeting and macro data.

The European Central Bank approved a fresh stimulus package as expected on Thursday, cutting interest rates and approving a new round of bond purchases to prop up euro zone growth and halt a worrisome drop in inflation expectations.

Sectors which came under pressure include auto, telecom, energy, as well as consumer discretionary sector while banks bucked the trend.

In the broader market space, the S&P BSE Midcap index fell by 0.18% while the S&P BSE Smallcap index bucked the trend, and was up 0.12%

In terms of Open interest – Indigo remain top gainer in terms of OI, followed by Tata Power, CESC, and HDFC which are showing signs of long buildup.