DSIJ Mindshare

Indices Recovers At Closing Buzz

The Indian markets witnessed choppy action in today’s trading session. Earlier today Reserve Bank Of India (RBI) maintained status quo and kept Repo Rate and CRR unchanged. As a result, the Banking stocks like SBI, ICICI Bank and Axis Bank saw heavy profit booking, as market was expecting some action from RBI. The selloff in the banking  stocks dragged Sensex below 28300 mark.  However stocks from Metals, Mid-Caps and Small-Caps provided good support to turn the market sentiments on positive bias. The Nifty closed in flattish mode and was marginally up  by 0.40 point at 8660 while Sensex closed 12 point up at 28516 at the closing bell.

The advance-decline ratio on NSE was positive side, as the day ended with 1658 shares in green and 1098 shares in the red zone.

Top Nifty Gainers: Tata Steel closed the day higher by 4.84%, followed by Sesa Sterlite, Bajaj Auto, NTPC and M&M.

Top Nifty Losers: IDFC closed the day lower by 2.22%, followed by Axis Bank, Hero Motocorp, Sun Pharma and Tata Motors.

Most the sectoral indices were positive in today’s session. Metals stocks remained outperformer of the day and were up by more than 200 points. Followed by Mid-caps and Small-Caps index that too were up by 80 points and 131 points respectively. While Capital Goods and Consumer Durables closed in positive territory, up by more than 70 points each. However indices such as Bankex and Healthcare closed in red mark, down by 151 points and 34 points respectively.   

The Asian markets continued with some positive scenario. The Nikkei market showed handsome up moves by 242 points. Followed by Shanghai Composite and Straits Times market that were up by 97 points and 12 points respectively. Hang Seng market remains closed for today.

Buzzer: Tata Steel was up by more than 4.84% on the bourses today and closed down at the technical level around Rs 330. If the stock opens above this level, it may touch Rs 350/365 mark in the next few sessions.

The Nifty Future saw some selling pressure however it’s managed to close above 8700 mark. Going ahead, 8670/8640 will be immediate vital supports for the Nifty future.   

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