Bulls Wake-Up, Bankex Surprisingly Resilience
Suparna / 09 Apr 2014
Markets closed the day on a record high, thanks to Bankex which surged up by 493 points in today’s trading. At the closing bell Nifty was positive by 101 points and the Bombay Stock Exchange closed on a record high of 358 points at 22702. Bank of Baroda was up by more than 5.5% on the bourses today.
The Indian markets witnessed a scintillating rally after the mid-session. Most of the rally was driven by Banking sector as its saw 3.45% up move till today’s closing. As a result the Nifty closed positive by 101 points at 6796 and Sensex was 358 points higher at 22702.
The advance-decline ratio on NSE was on the positive side as the day ended with 2170 shares in green and 1243 shares in the red zone.
Top Nifty Gainers: Sun Pharma gained 7.12% in today’s trade, followed by Bank Of Baroda, Axis Bank, ICICI Bank and Tata Motors.
Top Nifty Losers: Tech Mahindra closed the day lower by 3.08%, followed by HCL Tech, Infosys, ONGC and United Spirits.
Most of the sectoral indices closed on a positive note. Bankex and Metals witnessed superb up move by 493 points and 228 points respectively. Health Care, Capital Goods and Auto also saw a good up move of more than 200 points each. Mid-Caps and Small-Caps witnessed a confident rally as well. Only IT was closed in the negative territory.
All the major Asian markets closed the day on a positive note. Hang Seng closed up by 246 points, whereas Taiwan Index closed up by 42 points. Shanghai Composite and Kospi also closed in the positive territory.
Buzzer: Bank OF Baroda was up by more than 5.5% on the bourses today and closed near the technical level of Rs 800. If the stock opens above this level, it may touch the Rs 810/825 mark in the next few sessions.
Nifty Future closed above the technical level of 6800, which is the bullish crossover for further trading session.
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