DSIJ Mindshare

Market Steady, Nifty Ends Above 8500.

The Indian markets witnessed steady trade in today’s session. Indices hold its gains till closing-session as Consumer Durables and Banking stocks shown massive amount of buying resulting in their indices up by 332 points and 202 points respectively. The Nifty ends up by 36 points at 8550 and Sensex up by 140 points at 28262 at closing bell.

The advance-decline ratio on NSE was on positive side, as the day ended with 1667 shares in green and 1313 shares in the red zone.

Top Nifty Gainers: Wipro closed the day higher by 5.25%, followed by GAIL, Ambuja Cement, Axis Bank and BHEL.

Top Nifty Losers: HUL closed the day lower by 5.15%, followed by BPCL, Hero Motocorp, Asian Paints and HDFC.

Most of the sectoral indices were positive in today’s session. Consumer Durables and Banking stocks saw continued uptrend and were up by 332 points and 202 points respectively. Followed by Capital Goods, Auto and Healthcare stocks that too closed in positive territory, up by more than 150 points. Oil & Gas, Metals, Mid-Caps and Small-Caps stocks also provided some support and were up around 50 points each. However FMCG closed in red mark, down by 58 points.

The Chinese markets wilt under massive amount of selling in today’s trade. The Shanghai Composite and Hang Seng market saw perpendicular fall by 260 points and 365 points respectively, while Nikkei closed nominally up by 150 points. The Taiwan and KOSPI Index closed in green territory.       

Buzzer: HUL was down by more than 5% on the bourses today and closed down at the technical level around Rs 900. If the stock opens below this level, it may touch Rs 870/855 mark in the next few sessions.

Nifty future continued with the positive outlook. If it’s open above 8500 mark, may appreciate further.  

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