Sensex ends 8 points lower, Nifty ends below 15,780

The June 30 issue of the Benchmark indices ended on a flat note. Sensex ended up with 8 points lower at 53,018 and Nifty lost 19 points to 15,780 in volatile trade. The top Sensex losers were Tech Mahindra and the Bajaj twins, falling to 2.09 per cent. Axis Bank, SBI, and Kotak Bank were the top Sensex gainers, rising to 1.74 per cent.

Market breadth was negative with 1,369 stocks ending higher against 1,907 stocks falling on the BSE. The shares of 144 were unchanged. Banking stocks were the top sectoral gainers with BSE bankex ending 236 pts higher.

Auto and metal stocks were the top losers with their BSE indices plunging 339 pts and 349 pts, respectively. The midcap and smallcap indices of the BSE declined 162 points and 135 points, respectively. The market cap of BSE listed firms fell to Rs 243.73 lakh crore today against Rs 244.58 lakh crore in the previous session. Here's a look at what analysts said about the direction the market is going to take today.

There is so much uncertainty that traders don't want to risk placing huge bullish bets. The market has witnessed non-directional activity for the last three days. For Nifty, 15,700 could be the key support level and 15900 would act as an important resistance zone. The index could fall to 15,600 -- 15,550 levels on further decline. If the index sees the 15,900 breakout and above the same, it could move up to 16,000 -- 16,050. The fear of more interest rate increases and the risk of a recession continued to haunt investors. Expect a waterfall of selling if the biggest support is at 15,367. The biggest hurdle for Nifty is 15,927. The Nifty could find support around 15,700 levels, while 16,000 may be an immediate hurdle on the upside. The Bank nifty has support at 33,000 followed by 32,700 levels, while the resistance is at 33,800 levels. On the technical front, Nifty has a crucial support zone of 15,700 -- 15,750 and we may see an up move towards 16,000 if it continues to hold this support zone. The immediate support and resistance for Nifty are 15,600 and 15,900. The immediate support and resistance for the Bank Nifty are 32,800 and 33,750.