Markets Ends On Flat Note, L&T Surges By 3%
The Indian markets witnessed some directionless movement in today’s trade. However the bulls struggle for some breakout, but could not break the major hurdle of around 8500 level. Capital Good index saw massive amount of buying, as stocks like L&T, BEML, SKF India and Alstom T&D witnessed good amount of buying and capital good index was up by more than 300 points. On the other hand Healthcare, Bankex and Auto closed in the negative territory. The Nifty closed down by 0.25 points at 8433 while Sensex was up by 20 points and closed at 27848 in today’s trade.
The advance-decline ratio on NSE was on the negative side, as the day ended with 1214 shares in green and 1528 shares in the red zone.
Top Nifty Gainers: L&T closed the day higher by 3.09%, followed by Reliance Industries, Maruti Suzuki, HUL and Tata Power.
Top Nifty Losers: Sun Pharma closed the day lower by 9.16%, followed by HCL tech, Lupin, Bharti Airtel and Tata Motors.
Most of the sectoral indices closed in the negative note in today’s session. Capital Goods stocks were outperformers of the day and its indices was up by more than 300 points. FMCG and Oil & Gas stocks also closed on higher end and were up by around 70 points each. However, Healthcare and Bankex indices tanked and closed down by 475 points and 117 points respectively. Auto, Metals, Mid-caps and Small-Caps also closed in negative mark.
The Asian markets witnessed some positive scenario in today’s session. The Shanghai Composite market was up by 217 points. Followed by Hang Seng and Nikkei markets that closed on positive mark. However, Taiwan and KOSPI indices closed in negative territory and were down by 75 points and 12 points respectively.
Buzzer: L&T was higher by 3.09% on the bourses today and closed above the technical level around Rs 1700. If the stock opens above this level, it may touch Rs 1725/1740 mark in the next few sessions.
Nifty Future closed around the technical level of 8420. Going ahead 8480/8530 will be the major barriers.