Markets start the week on a positive note

Indian markets started the week on a positive note. Both stock exchanges were able to surge more than half a per cent in Monday’s trading session. In the last hour of trading, TCS contributed 57 points to Sensex gain of 192 points as the company approved buy back of shares at Rs 2850.

At the closing bell, Nifty ended at 8879 with a gain of 57 points and the BSE Sensex closed at 28661, up by 192 points. On the NSE, 35 shares closed in the green, while 16 shares ended the day in the red.

All indices closed in the green, except the FMCG. Auto index increased more than 140 points. Metals rose by 240 points, Healthcare increased 94 points. Oil & Gas, IT and Bankex rose more than 100 points each. However, FMCG reduced just 5 points. Mid-cap increased 91 points and Small-cap too rose 121 points.

Asian markets remained positive on Monday. Shanghai increased 1.18 per cent. Hang Seng increased 0.67 per cent. Nikkei rose 0.09 per cent. European markets were also trading positive.

Derivative Analysis

Nifty Future closed with a positive bias at 8,878. Going ahead, 8912/8846 will be the immediate support levels.