Indices Down, Metals Surges
The Indian equity markets witnessed range bound trade in today’s session. Metals stocks like Tata Steel, Hindalco, Hind Zinc, JSW Steel and Jindal Steel surged more than 3% each and metal index was up by 284 points. While Oil & Gas and healthcare also closed in positive territory were up by 90 points each. However Consumer Durables and Banking companies struggled and closed at the lower end. The Nifty witnessed a fall of 7 points and closed at 8324 while Sensex was down by 50 points and closed at 27440.
The advance-decline ratio on NSE was equally distributed, as the day ended with 1375 shares in green and 1372 shares in the red zone.
Top Nifty Gainers: Vedanta closed the day higher by 6.73%, followed by Kotak Mahindra Bank, Tata Steel, Hindalco and ONGC.
Top Nifty Losers: Cairn India closed the day lower by 2.30%, followed by M&M, SBI, HDFC and Cipla.
The sectoral indices closed in the mixed note in today’s session. Metals stocks were outperformers of the day and its index was up by 284 points. Followed by Oil & Gas and Healthcare stocks that were up by around 85 points each. However Bankex, Capital Goods and IT indices closed in red territory.
The Asian markets witnessed downward move in today’s session. The Hang Seng market was down by 368 points. The Taiwan and Shanghai Composite markets also closed with negative mark.
Buzzer: Hindalco was up by more than 4.5% on the bourses today and closed below at the technical level around Rs 135. If the stock opens above this level, it may touch Rs 145/152 mark in the next few sessions.
Nifty Future closed around the crucial support which was at 8350. If it’s sustain below this level may see more downward level.