Range Bound Indices Close On A Mix Note

The Indian markets witnessed some range bound trade in today’s session. The major indices like Capital Goods, Oil & Gas, Metals and Bankex closed in the negative territory. However IT, mid-caps and small-caps provided some support. The Nifty closed nominally up by 6 points at 8121 and Sensex was down by 21 points at 27090 in the closing bell.

The advance-decline ratio on NSE was negative, as the day ended with 1747 shares in green and 1889 shares in the red zone.

Top Nifty Gainers: TCS gained 2.72% in today’s trade, followed by Zee Entertainment, HCL Tech, Grasim and Tech Mahindra.

Top Nifty Losers: Jindal Steel closed the day lower by 4.68%, followed by L&T, ONGC, SBI and DLF.

Most of the sectoral indices closed on a negative note. The indices like Capital Goods and Oil & Gas saw heavy profit booking, down by 290 points and 136 points respectively, followed by Auto and Metals, which were down by 127 points and 60 points respectively. However IT closed on the positive side, up by 144 points. Mid-caps and small-caps witnessed nominal up move.

All the Asian markets had a positive session on the bourses today and ended the day in the upward territory. The Nikkei market closed up by 253 points. The Hang Seng market witnessed up move by 137 points, while Taiwan and Shanghai Composite closed on the positive side.    

Buzzer: TCS was up by more than 2.7% on the bourses today and closed up at the technical level around Rs 2700. If the stock opens above this level, it may touch Rs 2725/2750 mark in the next few sessions.

Nifty future again comes in the consolidation phase which is 8080-8130 levels. Going ahead indices may trade in the same range.