DSIJ Mindshare

Nifty On the Upper Hand, Small Caps Surges

The Indian markets is continuing with the upward momentum since last few days. In today's trading session, Capital Goods and Consumer durables were outperforms of the day, up by 227 points and 188 points respectively. Auto and IT also broke their major hurdles, up more than 100 points each. While the Small-Caps stocks saw an omnipresent up move by 117 points. As a result the Nifty maintains its positive moves, up by 59 points at 8869 while Sensex was up by 184 points at 29320 at the closing bell.

The advance-decline ratio on NSE was a positive side, as the day ended with 1638 shares in green and 1276 shares in the red zone.

Top Nifty Gainers: HDFC closed the day higher by 3.15 per cent, followed by Tata Power, HCL Tech, Acc and Jindal Steel.

Top Nifty Losers: Hero Motocorp closed the day lower by 5.04 per cent, followed by NMDC, DLF, Sesa Sterlite and Bharti Airtel.

Most of the sectoral indices were positive in today’s session. Capital Goods and Consumer Durables stocks witnessed to pull the indices on the higher side, up by 227 points and 188 points respectively. Auto, IT and Bankex stocks were also up by 100 points each. Small-Caps and Mid-caps stocks saw massive up move, up by 117 points and 90 points respectively. However Metals and Oil & Gas index saw some profit booking closed down by 74 points and 38 points respectively.

All the Asian markets were positive in today’s trade. The Nikkei market saw up move by 212 points. While the Hang Seng and Taiwan market closed on the positive note, up by 47 points and 33 points respectively. The KOSPI and Taiwan Index also closed on green territory.  

Buzzer: HDFC was up by more than 3.15 per cent on the bourses today and closed up at the technical level around Rs 1325. If the stock opens above this level, it may touch Rs 1350/1370 mark in the next few sessions.

Nifty Futures cross and closed above its major technical resistance, which was around 8850 level. Indicating more up moves above this level.

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