DSIJ Mindshare

Indices Recovers, Bank Nifty Outperforms

Today it was recovery session for the Indian market, as the benchmark indices managed to close in positive mark. Banking indices provided massive support, as stocks like ICICI bank, Axis Bank, Federal Bank surged well. Mid-Caps and Small-Caps index, also closed in the positive territory, and were up around by 150 points each. The Nifty reclaimed above the technical level of 8250 mark, up by 71 points at 8285 while Sensex was up by 219 point at 27396 at the closure of the day.

The advance-decline ratio on NSE was on a positive side, as the day ended with 1650 shares in green and 1086 shares in the red zone.

Top Nifty Gainers: ICICI Bank closed the day, higher by 8.12%, followed by Maruti Suzuki, BPCL, Tech Mahindra and Idea Cellular.

Top Nifty Losers: ITC closed the day, lower by 2.12%, followed by HCL tech, Coal India, Infosys and Reliance.

Most of the sectoral indices showed good recovery. Banking stocks witnessed handsome rally and breaks all the technical hurdles, up by 492 points. Auto and Healthcare index were also up by around 407 points and 110 points respectively. While Mid-Caps and Small-Caps as well closed in green territory. However FMCG and IT index remained in stress and index was down by 57 points and 41 points respectively. 

The Asian markets continued with some sideways scenario. The Nikkei market saw superb up moves by 75 points. However Hang Seng market was down by 20 points. While the Taiwan index and Shanghai Composite market saw nominal negative trades.    

Buzzer: Today ICICI Bank was up by more than 8.12% on the bourses and closed up at the technical level around Rs 325. If the stock opens above this level, it may touch Rs 330/340 mark in the next few sessions.

The Nifty Future holds and closed above 8250 mark, indicating vital support on lower levels. 

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