Nifty jumps to cross 8700, Oil & Gas surges by 1.6%

The Indian markets were in the bulls grip on starting of expiry week. Index continued to hold its gain and closed in positive territory. The Nifty surged to close16 points up at 8708 level and the Sensex was up by 102 points at 28179 level. Both the indices closed on positive note, up more than 0.18-0.36 per cent.    

The advance-decline ratio was on the negative side in the closing session. On the NSE, 24 shares closed in green, while 27 shares ended the day in red.

Majority of the sectoral indices closed in positive in today’s session. Oil & Gas and Auto were the top gainers, gaining around 200 points each. While Banks, Healthcare, FMCG and Metal also closed in positive territory. However Capital Goods, IT and Consumer Durables closed in negative territory.   

In the Asian markets, the Nikkei closed up by 49 points. The Hang Seng index ended up by 229 points. While the Taiwan and KOSPI also ended on a positive note.

European markets were also trading in mixed scenario.

Derivative Analysis

Nifty future closed at 8700. Going ahead 8660/8620 will be the immediate vital supports.