Bulls Lead, Bankex Outperforms

The Indian equity markets saw a superb opening for FY16. The Banking and Healthcare stocks helped to pull the benchmark indices on the higher side. Auto and Small-Caps too outperformed and closed up more than 200 points each. Most of the scetoral indices closed on positive mark. As a result the Nifty ended up by 95 points and closed at 8586 whereas Sensex closed 302 points up at 28260.

The advance-decline ratio on NSE was on the positive side as the day ended with 2015 shares in green and 693 shares in the red zone.

Top Nifty Gainers: Sun Pharma gained 5.59% in today’s trade, followed by PNB, IndusInd Bank, Yes Bank and Kotak Mahindra.

Top Nifty Losers: HCL Tech closed the day lower by 4.03%, followed by Infosys, BHEL, Maruti Suzuki and BPCL.

Most of the sectoral indices closed on a positive note. Banking stocks saw a scintillating rally in today’s session and were up by 495 points. Healthcare and Auto stocks also closed in a positive territory and were up around by 400 points and 206 points respectively. Mid-Caps and Small-Caps also surged well, and were up by 158 points and 256 points respectively. However IT stocks struggled and the IT sector index ended on negative note of around 126 points.     

The Asian markets closed the day on a mixed note. The Hang Seng index witnessed closing, up by 181 points. Shanghai Composite also closed in the green territory, and was up by around 60 points. However Nikkei and Taiwan market closed on a negative note in today’s session.

Buzzer: Sun Pharma was up by more than 5.59% on the bourses today and closed near the technical level of Rs 1080. If the stock opens above this level, it may touch the Rs 1095/1120 mark in the next few sessions.

Nifty Future closed in shown handsome rally and closed below 8600 mark. Indicating good strength around the lower level of 8550/8490 marks.