Indices Recover From Lower Ends
The Indian markets witnessed massive recovery from lower ends in today’s trade. The Consumer Durables stocks like PC Jewellers, VIP Industries, Symphony and Whirlpool remained volatile with positive bias. While Auto stocks like Tata Motors and Hero Motocorp also provided good strength to the indices. As a result the Nifty closed up by 24 points at 8146 and Sensex was up by 116 points at 27206 in the closing bell.
The advance-decline ratio on NSE was on the positive side, as the day ended with 1999 shares in green and 1652 shares in the red zone.
Top Nifty Gainers: Tata Motors gained 4.08% in today’s trade, followed by ONGC, ITC, BPCL and IndusInd Bank.
Top Nifty Losers: DLF closed the day lower by 3.05%, followed by Asian Paints, Cipla, IDFC and BHEL.
Most of the sectoral indices closed on a positive note. The indices like Consumer Durables and Auto saw good recovery, up by 299 points and 198 points respectively, followed by FMCG and Oil & Gas stocks, which were up by 141 points and 96 points respectively. While Bankex, Mid-Caps and Small-Caps closed in positive territory. However Metals, Health Care and IT continued with the profit booking trade.
All the Asian markets had a negative session on the bourses today and ended the day in the downward territory. The Nikkei market closes down by 115 points. The Hang Seng market saw down move by 350 points, while Taiwan and Shanghai Composite also closed on negative note.
Buzzer: Tata Motors was up by more than 4% on the bourses today and closed up at the technical level around Rs 540. If the stock opens above this level, it may touch Rs 555/570 mark in the next few sessions.
From last few trading sessions Nifty future recovered from 8055-8070 level, indicating that index took vital support around these levels.