Indices Close On A Firm Note, Auto & Bankex Outperform

After a gap up opening, the Indian markets held on highs till the closing session. Auto, Banking and Capital Goods led this rally and showed up move more than 300 points. Oil & Gas and Metals were up by 204 points and 170 points respectively. The Nifty closed up by 99 points at 7879 and Sensex was up by 321 points at 26429 in the closing bell.

The advance-decline ratio on NSE was positive, as the day ended with 1991 shares in green and 1656 shares in the red zone.

Top Nifty Gainers: UltraTech Cement gained 5.72% in today’s trade, followed by ONGC, Hindalco, BPCL and DLF.

Top Nifty Losers: Jindal Steel closed the day lower by 8.23%, followed by Wipro, Infosys, Wipro, TCS and HCL Tech.

Most of the sectoral indices were positive in today’s session. Auto and Bankex were outperformers in today’s trade, up by 369 points and 324 points respectively. Capital Goods and Oil & Gas stocks were up by 304 points and 204 points respectively. While mid-caps and small-caps were closed on positive note, up around 100 points. However IT index witnessed small profit booking trade, down by 83 points.     

Most of the Asian markets had a positive session on the bourses today and ended the day in the upward territory. The Nikkei market saw up move by 578 points, while Taiwan also closed on positive note up by 150 points. Hang Seng and Strait Times Index also closed in positive territory.     

Buzzer: ONGC was up by more than 5.51% on the bourses today and closed up at the technical level around Rs 419. If the stock opens above this level, it may touch Rs 435/450 mark in the next few sessions.

Nifty future closed above 7850 mark which is the bullish crossover in daily as well as intraday charts. Going ahead, if Nifty Future sustains above this level, it may touch 7950/7990 level.