Sensex Regains 29000 Mark
The Indian equity market witnessed a choppy trading session today. Trading in the negative zone during the early trading session, BSE Sensex bounced back with a gain of about 200 points from its day’s low. Capital Goods and Healthcare stocks outperform in today’s trade and stocks like ABB, BHEL, LNT, Glenmark and Biocon surged around 2.5 percent each. This was followed by Consumer durables index, which closed in the positive territory, and was up by 200 points. The Nifty closed above major resistance level and was up by 45 point and closed at 8826 while Sensex was up by 165 point in today’s trading session and closed at 29044.
The advance-decline ratio on NSE was positive side, as the day ended with 1701 shares in green and 1117 shares in the red zone.
Top Nifty Gainers: BHEL closed the day higher by 3.84%, followed by Bharti Airtel, Idea Cellular, Sun Pharma and Cairn India.
Top Nifty Losers: M&M closed the day lower by 3.09%, followed by ACC, Hindalco, Tata Motors and Sesa Sterlite.
Most of the sectoral indices closed in positive note in today’s trade. Healthcare stocks witnessed handsome rally and broke all the technical hurdles and was up by 273 points. This was followed by Capital Goods and Consumer Durables indices that were up around 200 points each. While Bankex, FMCG, Mid-Caps and Small-Caps also closed in green territory. However Auto index remained in stress and index was down by 147 points.
The Asian markets continued with positive scenario. The Hang Seng market saw superb up move by 743 points. This was followed by the Taiwan index and Shanghai Composite market that too saw a nominal positive up moves, and were up by 86 points and 48 points respectively. However Nikkei market was down by 2 points.
Buzzer: LNT was up by more than 2% on the bourses today and closed up at the technical level around Rs 1800. If the stock opens above this level, it may touch Rs 1820/1835 mark in the next few trading sessions.
The Nifty Future has given bullish crossover after its broke 8850 level in today’s intraday chart. This indicates more up move, if it open above this level.