Indices Hang Around For The Big Trigger
Suparna / 14 May 2014
As the D-day of general election result draws upon the nation, investors are also taking cautious steps in their trading action. Today’s day was mostly gripped by profit booking session coupled with sideways movements of the indices. At the closing bell Nifty index was flat with 0 points at 7108 and Sensex closed down by 56 points at 23815.
The Indian markets witnessed some sideways movement after the mid-session. In today’s session we saw a stock specific action specifically in PSU sector. Nifty saw some range bound trade and closed on a flattish note by 0 points at 7108 and Sensex was nominally down by 56 points at 23815.
The advance-decline ratio on NSE was positive, as the day ended with 1963 shares in green and 1526 shares in the red zone.
Top Nifty Gainers: Bank Of Baroda gained 9.11% in today’s trade, followed by Jindal Steel, Tata Steel, DLF and NMDC.
Top Nifty Losers: Dr Reddy’s Labs closed the day lower by 3.54%, followed by M&M, HDFC, Reliance and HDFC Bank.
Most of the sectoral indices closed on a mixed note. Metals and Consumer Durables stocks rallied in today’s trading session up by 330 points and 165 points respectively. It was followed by Bankex, Mid-Caps and Small-Caps that also witnessed good up move around 50 points each. However Oil & Gas, Heath Care and IT closed on some weaker note around 50 points.
All the major Asian markets closed on the mixed note for today’s session. The Nikkei market closed down by 19 points, However, Hang Seng witnessed up move by 230 points. KOSPI and Taiwan also closed on the higher ends.
Buzzer: Jindal Steel was up by more than 6.2% on the bourses today and closed above the technical level of Rs 250. If the stock opens above this level, it may touch the Rs 275/280 mark in the next few sessions.
Nifty future still closes above vital support level which was at 7140 indicating strong up move above this level.
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