Sensex, Nifty Surges, IT Tanks
Suparna / 19 May 2014
It was another positive ending for the Indian markets as the indices surged up to make new life time high. The 50 share Nifty index closed up by 60 points at 7263 and the 30 share BSE was up by 241 points to trade 24363 at the closing bell. BHEL was the biggest gainer, whereas TCS was the biggest loser on the bourses today.
The Indian markets carried on with the positive scenario which was witnessed for the last whole week on the backdrop of the general elections. After Capital Goods, Mid-Caps and Small-Caps also saw good amount of buying. However, IT stocks tanked as the USD made a new life time high of 11 month today. Nifty sustains above the technical level of 7263 which closed higher by 60 points and Sensex was up by 241 points at 24363.
The advance-decline ratio on NSE was positive, as the day ended with 2456 shares in green and 1054 shares in the red zone.
Top Nifty Gainers: BHEL gained 15.09% in today’s trade, followed by Coal India, NTPC, PNB and ONGC.
Most of the sectoral indices closed on a mixed note. Capital Goods and Consumer Durables stocks rallied in today’s trading session up by 1123 and 149 points respectively. It was followed by Metals, and Oil & Gas that also witnessed good up move around 755 points and 578 points respectively. However IT, Heath Care and FMCG closed on some weaker note around 300 points each.
All the major Asian markets closed on the mixed note for today’s session. The Nikkei market closed down by 90 points, However, Hang Seng witnessed down move by 8 points. KOSPI and Taiwan closed on the nominally positive note.
Buzzer: Coal India was up by more than 12.6% on the bourses today and closed above the technical level of Rs 385. If the stock opens above this level, it may touch the Rs 400/420 mark in the next few sessions.
Nifty future still closes above vital support level which was at 7250/7200 levels indicating strong up move above this level.
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