Indices Surge On Closing Buzz, Bankex Pulls

Indian markets witnessed a range bound move till mid-session. Around the closing buzz, indices like Bankex, Auto, Metals and Health Care pulled the benchmark index on the higher side. All the scetoral indices closed in the green territory. The Nifty index saw surprisingly resilient move and was up by 98 points at 8324 and Sensex was 329 points up at 27701 in today’s closing buzz.

The advance-decline ratio on NSE was on the positive side as the day ended with 1558 shares in green and 1352 shares in the red zone.

Top Nifty Gainers: Jindal Steel gained 6.2% in today’s trade, followed by Coal India, M&M, NMDC and Cairn India.

Top Nifty Losers: Hindalco closed the day lower by 1.27%, followed by Zee Entertain, L&T, Tata Steel and PNB.

All the sectoral indices closed on a positive note. Bankex stocks were the outperformers in today’s session, up around 300 points. Auto and Metals also closed in the positive territory, up around 257 points and 136 Points respectively. FMCG, Health Care and Oil & Gas also provided good strength and was up around 100 points each. Mid-caps and small-caps were up by 91 points and 38 points.

All the major Asian markets closed the day on a positive note. The Hang Seng index witnessed positive closing by 13 points, followed by Nikkei which closed up by 13 points. Taiwan, KOSPI and Straits Time Index closed in the green note.   

Buzzer: Coal India was up by more than 3% on the bourses today and closed near the technical level of Rs 390. If the stock opens above this level, it may touch the Rs 410/420 mark in the next few sessions.

Nifty Future witnessed bullish breakout in intraday as well as daily chart and closed above 8300 mark. If it sustains above this level, it may see 8370/8440 level soon.