Indices At The Top, Metals Up By 1.4%

The Indian markets continued its upward journey in today’s trading session. Metal sector was the out performer of the day, followed by Bankex and IT. The Nifty index closed on a positive note by 34 points at 7830 and Sensex was up by 124 points at 26271.

The advance-decline ratio on NSE was on the mixed side as the day ended with 1783 shares in green and 1792 shares in the red zone.

Top Nifty Gainers: Bank Of Baroda gained 3.41% in today’s trade, followed by Asian Paints, HCL Tech, Tata Steel and Hindalco.

Top Nifty Losers: Cairn India closed the day lower by 6.67%, followed by GAIL, Power Grid Corp, Dr Reddy’s Labs and Hero Motocorp.

Most of the sectoral indices closed on a positive note. Metals witnessed a bull rally and surged up by 196 points. Bankex, IT and FMCG also witnessed good positive trade, up by 70 points each. However, Mid-caps, Consumer Durables and Health Care closed on the lower end.

All the major Asian markets closed the day on a positive note. Hang Seng closed down by 169 points, whereas Nikkei index closed down by 44 points. Taiwan and Shanghai also closed in the positive territory.

Buzzer: Bank Of Baroda was up by more than 3.41% on the bourses today and closed near the technical level of Rs 880. If the stock opens above this level, it may touch the Rs 900/925 mark in the next few sessions.

Nifty Future closed to make fresh bullish crossover as it closed above 7800 level. If it opens above this level, it may see trade above 7860 level.