Nifty races past 8600, Axis Bank Surges by 4.2%

The Indian markets were in the bulls grip on today’s session. The index continued to witness up move and also all the sectors keep on green zone till closing session. The Nifty surge to closed 84 points up at 8608 level and the Sensex was up by 247 points at 28446 level. Both the indices closed on positive note, up around 0.9 percent each.    

The advance-decline ratio ended on the positive side in the closing session. On the NSE, 1566 shares closed in green, while 1254 shares ended the day in red.

Top 5 Nifty Gainers: Axis Bank closed the day as the top gainer on the NSE, up by 4.2%.  Kotak Mahindra, Yes Bank, Tech Mahindra and BHEL were the others that closed the day on a positive note.

Top 5 Nifty Losers:  Vedanta was the top loser, down by 1.2%, followed by NMDC, M&M, Ultra Tech Cement and Bank of Baroda.

All of the sectors saw a good amount of buying in the  closing session. Bankex was the top gainer for the day, up by 411 points. It is followed by the Consumer Durables and Healthcare indices were up around 200 points each. Also Auto, Capital Goods, FMCG and Metals saw up around 50 points. Mid-Caps and Small-Caps ended on positive note up by 146 points and 86 points.  

On the Asian front, the Hang Seng ended the day up by 107 points followed by  Nikkei which  closed up by 136 points. The Shanghai Composite and KOSPI too ended on a positive note.

Buzzers: Yes Bank from the last few sessions stock saw heavy volatile trade and its recovered from the lower level of around Rs 800. In  today’s session scrip it broke its major hurdle i.e the Rs 830 mark. Going ahead if the stock sustains above this level we may see it hit Rs 850 in further trading session. 

The Nifty Future traded as per our expectation and closed above the 8600 level, which is also a positive indicator for tomorrow’s opening buzz.