Indices Closes On A Positive Note, Bankex, IT Gains

The Indian markets witnessed good recovery after the mid-session. Bankex and IT indices ended on the higher side, followed by the Capital Goods index. However Mid-Caps and Small-Caps closed in red. The Nifty saw up move by 23 points at 7663 and Sensex was up by80 points at 25641 at closing bell.

The advance-decline ratio on NSE was negative, as the day ended with 1739 shares in greenand 1861 shares in the red zone.

Top Nifty Gainers: IDFC gained 2.85% in today’s trade, followed by TCS, Hero Motocorp, Kotak Mahindra and HCL

Tech.Top Nifty Losers: Tata Power closed the day lower by 2.49%, followed by Ambuja Cement, Hindalco, BHEL and GAIL.

Most of the sectoral indices closed the day on a mixed note. Bankex an IT were the outperformer of the day up around 130 points. Capital Goods stocks also witnessed massive amount of recovery in today’s trading session and went up by 60 points. However Mid-Caps and Small-Caps were also down more than 50 points each. Metals, Oil & Gas and Auto also were closed on negative note. 

All the major Asian markets had a negative session on the bourses today and ended the day in the negative territory. The Nikkei market witnessed down move by 154 points, the Hang Seng market closed down by 66 points, while Taiwan and KOSPI on the negative side.

Buzzer: TCS was up by more than 2.4% on the bourses today and closed up at the technical level of Rs 2440. If the stock opens above this level, it may touch Rs 2460/2480 mark in the next few sessions.

Nifty future has vital supports around 7580/7560 levels. Indicating good strength above 7600 level.