Indices struggle on upper hand; ONGC surges 5%

The Indian market has continued with its positive momentum in first session of July also. However the benchmark indices struggled for breakout. Capital Goods and Oil & Gas indices outperformed the day, closed up by 311 points and 268 points respectively. The Nifty ended with gains of 40 points at 8328; and Sensex was up by 145 points at 27144.

The advance-decline ratio ended on the positive side in the closing session. On the NSE, 1560 shares closed in green, while 1156 shares ended the day in red.

Top 5 Nifty Gainers: ONGC closed the day with the top gains on the NSE, up by 4.2%. BHEL, L&T, Dr. Reddy's Lab and ITC were the others that ended higher.

Top 5 Nifty Losers: TCS was the top loser, down by 2.05%, followed by Kotak Mahindra, Adani Ports, Coal India and Zee Entertain.

Majority of the indices ended in the green. Capital Goods was the top gainer for the day, up by 311 points, followed by Oil & Gas and Healthcare, which were up by 268 points and 160 points, respectively. Mid-Caps and Small-Caps were up around 100 points each. While Bankex, Consumer Durables and Metals were up in the range of 50 points each.

In the Asian markets, the Hang Seng ended higher by 358 points. On the other hand, the Nikkei closed up by 106 points. The Taiwan and KOSPI ended on a positive note.

Buzzers: ONGC has emerged as outperformer of the day. The stock surged by 5 per cent and made high around Rs 229. Going ahead the stock has a major hurdle at Rs 230.

The Nifty Future closed around 8350 level, and may face a hurdle around 8380/8400 levels.