Indian equities closed on a depressing note weighed by worldwide signals. It fell more than 300 points during the day. Broader markets also traded lower. All sectoral indices traded in the negative zone. Metal scrips declined the most accompanied by real estate, capital goods, banking and consumer durables that also topped the declining charts.

Sensex belled the day in green owing to strong US signs. It continued to trade in the positive zone during the first half. But, it turned into red during the second half. Aggressive selling in metal and real estate scrips brought the index down.

At the close, BSE Sensex lost 248.94 points at 17,137.14, while the broad based NSE Nifty declined 74.25 points at 5,148.50.

According to Fairwealth Securities, "Weak worldwide signals from Asian and European market put selling pressure on Indian Indices. Metals and real estate scrips confronted major sell off. Sensex closed at 17,137, down 248 points and Nifty at 5,148, down 74 points from the previous close."

Fairwealth Securities opined that 5,200 and 5,240 may act as strong resistance level for Nifty today.

Nifty may get support in the range 5092- 5106 in today's session. If Nifty trades lower the said level, then it may attract heavy selling pressure, it added.

Fairwealth Securities opined that traders are advised to sell stocks at profits as long as Nifty is trading below 5,240. Pharmaceuticals and Oil Stocks may attract buying whilst Metals and Reality may attract selling pressure at every gain.

Expected bullish stocks:

DR Reddy`s, Lupin, HDFC Bank, Hero Honda, PNB, GAIL, HPCL, IOC, BPCL, Piramal Health Care, HCL Technology, Divi`s Laboratory, Chennai Petroleum, BHEL, Exide Industries, Dabur India, Idea Cellular, PFC.

Expected bearish stocks:

HCC, Reliance Capital, Jindal steel, JSW Steel, Axis Bank, Kotak Bank, Bank Of India, ACC, DLF, Unitech HDIL, Grasim Industries, Tata Steel, Sterlite Industries, Hindal Co.