Indices Range Bound, Small Caps In Flash
Suparna / 20 May 2014
It was another positive ending for the Indian markets as the indices surged up and sustained on highs. The 50 share Nifty index closed up by 11 points at 7275 and the 30 share BSE index was up by 13 points to trade at 24376 in the closing bell. Sesa Sterlite was the biggest gainer, whereas Coal India was the biggest loser on the bourses today.
The Indian markets carried on with the positive scenario from last few trading sessions. In today’s session, Mid-Caps and Small-Caps were seen in the flash as some stocks closed on life highs. However, Oil & Gas and Bankex stocks showed some negative scenario. Nifty sustained above the technical level of 7275 which closed higher by 11 points and Sensex was up by 13 points at 24376.
The advance-decline ratio on NSE was positive, as the day ended with 2440 shares in green and 1081 shares in the red zone.
Top Nifty Gainers: Sesa Sterlite gained 7.9% in today’s trade, followed by NMDC, BHEL, Tata Steel and Infosys.
Top Nifty Losers: Coal India closed the day lower by 5.77%, followed by ONGC, Reliance, Hero Motocorp and Bank of Baroda.
Most of the sectoral indices closed on a mixed note. Metals and Consumer Durable stocks rallied in today’s trading session, up by 190 and 180 points respectively. It was followed by IT and Health Care that also witnessed good up move of around 160 points and 145 points respectively. The Mid-Caps and Small-Caps also surged well. However Oil & Gas and Bankex closed on some weaker note at around 377 points and 133 points respectively.
All the major Asian markets closed on the positive note in today’s session. The Nikkei market closed up by 68 points while Hang Seng witnessed up move by 130 points. However KOSPI and Taiwan closed on a nominally negative note.
Buzzer: Sesa Sterlite was up by more than 7.5% on the bourses today and closed above the technical level of Rs 240. If the stock opens above this level, it may touch the Rs 255/264 mark in the next few sessions.
Nifty future has a vital support around the lower level which is 7200. Till its closing above this level, there is no sign of immediate profit booking.
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