Nifty Ends Flattish, Oil & Gas Surges
Suparna / 05 May 2014
The Indian markets were able to hold on to the early gains amid a volatile trading day. As a result, Nifty closed marginally positive by 4 points at 6699 and Sensex was positive by 41 points at 22445 level. Oil & Gas and Metal sector surged by more than 100 points today.
The Indian markets witnessed a range bound trade throughout the day. Oil & Gas and Metals showed some strength, however IT and Health Care closed on the lower note. Mid-Caps and Small Caps also closed on the negative note. The Nifty closed on nominally positive side by 4 point at 6699 and Sensex was 41 points higher at 22445.
The advance-decline ratio on NSE was negative, as the day ended with 1584 shares in green and 1889 shares in the red zone.
Top Nifty Gainers: Hindalco gained 5.51% in today’s trade, followed by Reliance, Jindal Steel, Tata Steel and ONGC.
Top Nifty Losers: HCL Tech closed the day lower by 3.01%, followed by HDFC, Cipla, Tata Power and NMDC.
Most of the sectoral indices closed on a positive note. Oil & Gas and Metals witnessed outperformers of the day up by 145 and 118 points respectively. It was followed by Capital Goods and Auto indices which also witnessed upward moves by 108 points and 58 points respectively. However, Health Care and IT witnessed some profit booking trade down by 80 points each. Mid-Caps and Small-Caps also closed on the negative note.
All the major Asian markets closed the day on a negative note. Hang Seng closed down by 284 points. Nikkei market closed on a negative note down by 27 points.
Buzzer: HCL Tech was down by more than 3% on the bourses today and closed below the technical level of Rs 1390. If the stock opens below this level, it may touch the Rs 1370/1355 mark in the next few sessions.
Nifty future has a major vital support level around 6690/6670 levels.
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