DSIJ Mindshare

Sensex Above 28500, Healthcare Surges

The Indian equity market continued with their positive trend in today’s session. The Healthcare stocks like Sun Pharma, Cadila Health, Aurobindo Pharma and Glenmark saw scintillating rally to pull the index on the higher side. Capital Goods and Consumer Durables too soared and closed up by more than 200 points each. Nifty sustained its earlier gains and ended up by 73 points and closed at 8659 whereas Sensex moved up by 244 points and closed at 28,504.

The advance-decline ratio on NSE was on the positive side as the day ended with 1825 shares in green and 912 shares in the red zone.

Top Nifty Gainers: Sun Pharma gained 8.15% in today’s trade, followed by Dr Reddys Labs, GAIL, Cairn India and Cipla.Top Nifty Losers: PNB closed the day lower by 2.17%, followed by Wipro, Tata Steel, Reliance and IndusInd Bank.

Most of the sectoral indices closed on a positive note. Healthcare stocks were seen a scintillating rally in today’s session and were up by 855 points. Capital Goods and Consumer Durables too closed in the positive territory and were up more than 200 points each. Auto and Small-Caps indices surged well, and were up by 170 points and 150 points respectively in today’s trading. However, Bankex and Metals stocks struggled in today’s trade and ended on negative note.     

Most of the Asian markets were closed for today’s trade. The Nikkei Index and Straits Times that were opened today saw a nominal negative movement and were down by 37 points and 1 point respectively.

Buzzer: Sun Pharma was up by more than 8.15% on the bourses today and closed near the technical level of Rs 1150. If the stock opens above this level, it may touch the Rs 1170/1220 mark in the next few sessions.

Nifty Future has given bullish crossover after it broke the technical level of 8650. Going ahead, 8720/8755 will be the immediate resistance levels.   

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