Heavy rain lash Sri Lanka, 6 dead

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Colombo, Nov 9 | Six people were killed as heavy rain and strong winds have lashed Sri Lanka since the weekend, triggering floods in several areas of the island nation, the Disaster Management Centre (DMC) said.

The DMC said that 13 districts were affected by the heavy downpours which triggered the evacuation of 891 people to safer areas, reports Xinhua news agency.

A landslide warning had also been issued in 10 districts, including in some areas in the capital Colombo, the DMC said.

The Meteorology Department said that further rains were expected in several regions of the country in the coming days and people were urged to be cautious as it could cause floods in low-lying places.

The Sri Lanka Navy said it had deployed relief teams to flood-prone areas for search and rescue operations in the event of a weather-related disaster.

Source: IANS

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Share Market Closing Bell: Nifty ends around 15,800, Sensex tanks 1,416 pts

Share Market Closing Bell: Nifty ends around 15,800, Sensex tanks 1,416 pts

On the back of Global Clues and SGX, Nifty opened on a gap down note & continued downside momentum throughout the day and closed the session at 15809.40 level with a loss of 430.90. However, Bank nifty closed the session at 33315.65 level with a loss of 848.05 points.

India VIX closed at 24.56 up by 10.13% which is a sign of more volatility in upcoming sessions.47 stocks out of NIFTY 50 closed in RED which suggest broad based selling. All the sectoral indices were ended in the red with metal, IT indices down 4-5 percent.

Despite one way fall, Stocks like ITC, DRREDDY, POWERGRID were the top gainers, While WIPRO, HCLTECH, INFY, TCS & TECHM were prime losers. On a daily chart, Nifty has formed a Bearish candle which indicates downside momentum for an upcoming session. Moreover, Nifty is showing support from horizontal line i.e., 15750 levels which is make or break level. In addition, Nifty has been sustained above the 21-Monthly Moving Average which indicates a bounce back from lower levels can be seen.

However, the momentum indicators MACD & Stochastic were trading with a negative crossover & trading in oversold zone which is a sign of sideways to negative trend in Nifty. The Nifty may find Strong support around 15700 levels, breaching below it can show more downside till 15500 levels while on the upside 16000 may act as an immediate hurdle. On the other hand, Bank nifty has support at 32800 levels while resistance at 34500 levels.

Palak Kothari
Research Associate
Choice Broking

Source: Choice India

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