A Cautious Trading Day Ends On Some Respite
Suparna / 08 May 2014
After an initial positive rally in the morning session, Indian markets due profit booking in major heavyweight stocks closed on nominally higher levels. The 50 share Nifty index closed up by 7 points at 6659 and the BSE30 ended the day positive by 20 points at 22344.
The Indian markets witnessed a positive start in today’s session. But due volatility surrounding the markets, soon went into the red zone. Unexpected buying was witnessed in the closing buzz as a result the Nifty closed positive by 7 points at 6659 and Sensex was up by 20 points at 22344. Both the indices ended higher in the range of 0.09%-0.11%.
On the NSE, the advance-decline ratio was on the negative side, with 1669 shares closing in the green and 1791 shares in the red.
Top 5 Nifty Gainers: BHEL closed with the highest gains on the index, up by 3.28%. Cipla, Tata Motors, ICICI Bank and HCL Tech were among the others that ended the day higher.
Top 5 Nifty Losers: BPCL India closed lower by 2.10% today, followed by ITC, Hero Motocorp, Jindal Steel and Lupin.
10 out of 13 sectoral indices closed in the green. Bankex and Consumer Durables were up in the range of 110 points and 88 points. Mid-Caps closed down by 20 points and Small-Caps closed up by 12 points each. FMCG and Health Care showed negative momentum.
All the major Asian markets closed in the green zone today. Nikkei was up by 130 points higher by day’s end, followed by Hang Seng up 90 points. Shanghai Composite, Straits Times and Taiwan also closed on a positive note.
Buzzer: The stock of Shyam Telecom saw bulk buying on the bourses after mid-session. It made an intraday high and closed at Rs 35.40. If the stock opens above this level tomorrow, it may continue with the positive momentum.
Nifty Futures trend is indicating some medium term positive picture. However, may see profit booking on higher level.
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