Nifty Ends Above 8500, Bankex & IT Lead.

The Indian stock markets continued with its upward journey to close on the record high. Bank and IT company helped to pull up the indices as they both were up by more than 200 points each. Followed by Metals and Capital Goods that ended on positive territory. In today’s session Nifty closed up by 52 points from its previous close at 8530 and Sensex was 164 points up at 28499.

Nonetheless, the advance-decline ratio on NSE was on the negative side as the day ended with 1629 shares in green and 1995 shares in the red zone.

Top Nifty Gainers: DLF gained 5.06% in today’s trade, followed by Jindal Steel, Tata Power, Hindalco and Infosys.

Top Nifty Losers: Power Grid Corp closed the day lower by 2.80%, followed by Cipla, Reliance, ACC and Tata Motors.

Most of the sectoral indices closed on a positive note. Bankex and IT witnessed superb resilience and moved up by more than 200 points each. Followed by Metals and Capital Goods that closed in positive territory and were up by 182 points and 135 points respectively. However Oil & Gas and Health Care index were down by 66 points and 78 points respectively. While Mid-Caps and Small-Caps also closed in mixed note.

All the major Asian markets closed the day on a positive note. The Hang Seng index saw a handsome up move by 456 points, followed by Taiwan closed up by 30 points. While Shanghai Composite and KOSPI Index closed in positive note. While Nikkei index was closed for today session.      

Buzzer: DLF was up by more than 5.06% on the bourses today and closed near the technical level of Rs 148. If the stock opens above this level tomorrow, it may touch the Rs 155/160 mark in the next few sessions.

Nifty Future continues with the bullish move as it’s closed above 8500 mark. Going ahead, 8460 and 8430 level will be the vital supports.