Bulls Continue To Lead, Reliance Industries Up By 3.9%
The Indian markets continued with its winning streak from even in today’s trading session, fourth day in a row. The sectoral index like IT and Metals broke all the major hurdles and were up by 224 points and 157 points respectively. Oil & Gas, FMCG & Consumer Durables also continued with their positive momentum and all these indices were up by more than 100 points each. However, banking stocks remained in stress and bankes was down around 65 points. The Nifty closed in positive territory and was up by 54 point and closed at 8714 while Sensex was up by 191 point and closed at 28707 in today’s trade.
The advance-decline ratio on NSE was on a positive side, as the day ended with 1759 shares in green and 1020 shares in the red zone.
Top Nifty Gainers: Coal India closed the day higher by 5.77%, followed by Reliance, Bharti Airtel , BPCL and Tech Mahindra.
Top Nifty Losers: Idea Cellular closed the day lower by 2.51%, followed by Yes Bank, HDFC, Sesa Sterlite and HCL Tech.
A apart from Bankex all the sectoral indices closed in positive note. IT and Metals stocks broke all the technical hurdles and were up by 224 points and 157 points respectively. This was followed by Oil & Gas, FMCG and Consumer Durables index that were up around 100 points each. While Auto, Mid-Caps and Small-Caps also closed in green territory. However, Banking stocks remained in stress and Banking index was down by 65 points.
The Asian markets continued with some positive scenario. The Hang Seng market saw superb up moves by 961 points. This was followed by Nikkei and Shanghai Composite market that were up by 149 points and 34 points respectively. However the Taiwan and Straits Times market closed in nominal red.
Buzzer: Reliance was up by more than 3.5% on the bourses today and closed up at the technical level around Rs 865. If the stock opens above this level, it may touch Rs 880/895 mark in the next few sessions.
The Nifty Future is in bullish crossover after it broke the technical level of 8750. That indicates more positive uptrend from current level.