Nifty Above 8000 mark, L&T Surges by 14.1 %
The Indian markets witnessed handsome rally on May F&O expiry session. Capital Goods stocks provide handsome support to the benchmark indices, as it was ended up by 1166 points. The Nifty rally by over 134 points up at 8069. The Sensex ended 485 points up at 26366.
The advance-decline ratio ended on the positive side in the closing session. On the NSE, 1406 shares closed in green, while 1139 shares ended the day in red.
Top 5 Nifty Gainers: L&T closed the day with the top gains on the NSE, up by 14.13%. SBI, BHEL, Idea Cellular and Axis Bank were the others that ended higher.
Top 5 Nifty Losers: Bharti Airtel was the top loser, down by 1.1%, followed by HCL tech, Sun Pharma, Eicher Motors and Reliance.
All indices ended in the green. Capital Goods was the top gainer for the day, up by 1166 points. Followed by Bankex up by 428 points and Auto up by 199 points. IT and FMCG both closed up by over 139 points and 98 points respectively. Mid-Caps and Small-Caps were up in the range of 100-120 points.
In the Asian markets, the Nikkei ended lower by 15 points. On the other hand, the Hang Seng closed up by 29 points. Straits Times and Shanghai Composite also ended on a positive note.
Buzzers: L&T the stock surges by 14 per cent to closed above the technical level of 1450. If it’s continues with the current momentum it may see 1600-1700 levels soon.
The Nifty index has broke a bullish cross over 8000 and also given closing above 8020 level indicating some strength.