Range Bound Indices Close On A Positive Note

The Indian markets saw a range bound movement but ended on a positive note. The sectors like IT and Health Care were the outperformers of the day. Bankex, Oil & Gas and FMCG also closed in the positive territory. However Capital Goods, Consumer Durables and Metals continued with the profit booking trade. At the end of today’s session, Nifty was up by 19 points at 8401 and Sensex was up by 34 points at 28067.

The advance-decline ratio on NSE was on the negative side as the day ended with 1701 shares in green and 1997 shares in the red zone.

Top Nifty Gainers: Kotak Mahindra gained 7.35% in today’s trade, followed by Cipla, Tech Mahindra, SBI and Cairn India.

Top Nifty Losers: Jindal Steel closed the day lower by 3.78%, followed by Zee Entertainment, NMDC, Sesa Sterlite and DLF.

Most of the sectoral indices closed on a positive note. IT and Health Care were the outperformers of the day, up more than 120 points. Bankex, FMCG and Oil & Gas also closed in the positive territory. Consumer Durables and Capital Goods were hammered badly, down by 167 points and 116 points respectively. Mid-caps and small-caps also closed on a negative note. 

All the major Asian markets closed the day on a mixed note. The Taiwan index showed handsome up-move by 115 points, followed by Nikkei which closed up by 12 points. However Hang Seng Index closed down by 23 points. KOSPI and Straits Times also closed in the negative territory.    

Buzzer: Cipla was up by more than 3.22% on the bourses today and closed near the technical level of Rs 600. If the stock opens above this level, it may touch the Rs 640/655 mark in the next few sessions.

Nifty Future took vital support around the technical level of 8350. This level will be act as a pivot level of further trade.