Choppy trades end positive
The Indian markets saw a highly volatile session today. The indices first pulled up in the morning session, then sustained at the same level till the closing. At the closing bell, the Nifty ended higher by 28 points at 8808; and the Sensex gained 35 points to close at 28634.
At closing, the market breadth was positive. On the NSE, 36 shares closed in the green and 15 shares ended the day in red.
Apart from FMCG all of the sectoral indices closed in the green today. Metal was the highest gainer as it gained 126 points by the day’s end. Bankex was up by 75 points and Healthcare and IT were up around 55 points each. Oil & Gas was also up by 77 points and Capital Goods moved up 44 points. Mid-caps and Small-caps were both higher in the range of 70-80 points each.
In the Asian markets, the Nikkei closed up by 114 points. The Shanghai Composite also ended on a positive note. The Hang Seng index ended higher by 214 points.
European markets were also trading in positive scenario.
Derivative Analysis
Nifty future closed at vital support of 8760-8800, if it opens above 8850 level, it may see more upward moves.