Indices Range Bound, Consumer Durables Surges
Suparna / 06 May 2014
Witnessing a range bound trade in the closing session, the Indian markets managed to close the day in the green zone. Consumer Durables and Capital Goods were the top performing sectors of the day. Nifty ended the day up by 15 points at 6715 and Sensex was positive by 63 points at 22508
The Indian markets witnessed a range bound trade though out the day. The stocks of Consumer Durables and Capital Goods provide some support, however IT remained on the weaker side. Mid-Caps and Small Caps also closed on a nominally positive note. The Nifty closed on positive side by 15 point at 6715 and Sensex was 63 points higher at 22508.
The advance-decline ratio on NSE was negative, as the day ended with 1696 shares in green and 1783 shares in the red zone.
Top Nifty Gainers: IndusInd Bank gained 2.11% in today’s trade, followed by ICICI Bank, Reliance, LT and Tata Motors.
Top Nifty Losers: Power Grid closed the day lower by 2.47%, followed by Ambuja Cement, Bharti Airtel, Tata Power and Hero Motocorp.
Most of the sectoral indices closed on a positive note. Consumer Durables and Capital Goods were the outperformers of the day up by 211 and 118 points respectively. It was followed by Bankex and Oil & Gas indices which also witnessed upward move around 100 points each. Mid-Caps and Small-Caps also closed on positive note. However, IT closed on the negative side lower by 45 points.
All the major Asian markets closed the for today’s session. Strait Times and Taiwan Index closed in the positive sentiments.
Buzzer: ICICI Bank was up by more than 1.5% on the bourses today and closed above the technical level of Rs 1270. If the stock opens above this level, it may touch the Rs 1300/1320 mark in the next few sessions.
Nifty future has a bullish crossover around 6780 level. If it trades above this level, may surge ahead.
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