Sensex Above 29500 Mark, Bankex Up By 2.3%

From last few trading sessions the Indian equity market had witnessed scintillating rally and made new highs. In today’s session Banking stocks like Axis Bank and ICICI Bank lead the rally  and were up by more than 3.4%, while the Bankex was up by 2.3%. Followed by Auto and Capital Good index that were up by 249 points and 312 points respectively. On the closing buzz the Nifty shown handsome up move and ended up by 75 points at 8910 while Sensex was up by 292 points and closed at 29571.

The advance-decline ratio on NSE was on negative side, as the day ended with 1419 shares in green and 1514 shares in the red zone.

Top Nifty Gainers: Axis Bank closed the day higher by 4.77%, followed by Cipla, ICICI Bank, Asian Paints and ITC.

Top Nifty Losers: Dr Reddys Labs closed the day lower by 4.10%, followed by Cairn India, Infosys, Coal India and M&M.

Most of the sectoral indices closed on a positive in today’s session. Banking stocks were the outperformer of the day, and Bankes was up by 527 points. Followed by Auto and Capital Goods index were also witnessed strong up move by 249 points and 312 points respectively. While FMCG and Mid-Caps stocks also closed in positive territory and were up around 90 points. While Consumer Durables, Healthxare and Small-Caps too ended on green zone. However IT and Metal Indices seen some profit booking trade, down by 186 points and 62 points respectively.  

The Asian markets shown a mixed session in today’s trade. The Nikkei saw up move of 299 points. Followed by Taiwan and KOSPI index, that closed up by 43 points and 16 points respectively. However Hang Seng market closed on the negative note by 102 points.       

Buzzer: Cipla was up by more than 4.5% on the bourses today and closed up at the technical level around Rs 700. If the stock opens above this level, it may touch Rs 720/740 mark in the next few sessions.

Nifty future closed above 8900 mark, indicating a bullish signal in daily as well as weekly chart. If it’s continues with the current momentum may touch 9000 level soon.