Know how Indian stocks snapped a 6 day winning streak at the markets today

Indian stocks snapped a six-day winning streak as investors booked partial profit in front line counters even as traders ramped up some beaten down shares in the hope of further gains. Realty, Finance and fertiliser stocks came under selling pressure even as cement and FMCG shares gained in trade.

The Nifty fell 48 points to end the day at 8,129 points. ITC, Idea, Reliance Industries, GAIL and Axis Bank were the top five losers on the index while Adani Ports, Hindalco, Vedanta, UltraTech and Tata Steel rose in trade. The Nifty had an Advance-Decline Ratio of 15/35 and Mahindra & Mahindra, Axis Bank, HCL Tech were the most active shares on the index.

Broad market indices also came under selling pressure with the CNX 100, CNX 200 and CNX 500 benchmarks losing at least 0.6 percent each. The lone gainer in the sectoral pack was the CNX Metals Index. Modest losses were recorded on benchmarks representing Realty, Pharma and FMCG sectors. The Auto and Energy space, too, came under selling pressure.

Sentiment was sideways on the Bombay Stock Exchange where the Sensex lost 190 points, or 0.7 percent, to 26,845 points. Reliance Industries, ICICI, NTPC and Bajaj Auto came under selling pressure while Vedanta, Reddy's, Hero Motors and BHEL posted modest gains. The Advance-Decline Ratio on the Index stood at 9/19 and M&M, Tata Steel and Axis Bank were the most active stocks on the Sensex.

Bears wrested control in the wider market with 1,480 shares falling compared with 1,265 stocks that rose above their Wednesday's closing prices.

The mood was bearish in the futures and options space as well with just 49 futures gaining compared with 116 that recorded losses. McLeod Russel, UCO Bank and UltraTech were top gaining futures compared with Bharti Infratel, Divis Lab, and Century Textiles that slipped in trade.

Avanti Feeds, Granules India and Can Fin Homes hit fresh highs in trade on the National Stock Exchange.

(Image credits: Indiatimes)