Indices Recover From Lower Ends, Essar Oil Up By 15%
Suparna / 21 May 2014
After a long time the Indian markets closed on a negative territory. The Banking stocks like SBI and Axis dragged market on the lower side. As a result, the 50 share Nifty index closed down by 22 points at 7252 and the 30 share BSE index was down by 78 points to trade at 24298 at the closing bell.
The Indian markets witnessed some profit booking scenario from mid session onwards. However its managed to recover from the lower end. The stocks like Auto and Small Caps provided some support whereas Bankex and Capital Goods dragged the indices. As a result Nifty closed lower by 22 points at 7252 and Sensex was also down by 22 points at 24298.
The advance-decline ratio on NSE was positive, as the day ended with 2341 shares trading in green and 1161 shares in the red zone.
Top Nifty Gainers: Bajaj Auto gained 2.18% in today’s trade, followed by NTPC, Hero Motocorp, Bank of Baroda and Asian Paints.
Top Nifty Losers: NMDC closed the day lower by 1.85%, followed by Coal India, IDFC, Sesa Sterlite and Bharti Airtel.
Most of the sectoral indices closed on a mixed note. Mid-Cap and Small-Cap stocks rallied in today’s trading session, up by 109 and 157 points respectively. It was followed by Auto and IT that also witnessed good up move around 71 points and 66 points respectively. However the Bankex and Capital Goods witnessed some amount of profit booking, down by 238 points and 184 points respectively.
All the major Asian markets closed on the negative note in today’s session. The Nikkei market closed down by 33 points. However, Hang Seng witnessed nominal up move by 1 point. However KOSPI and Taiwan closed on the negative note.
Buzzer: Essar Oil was up by more than 15% on the bourses today and closed around the technical level of Rs 90. If the stock opens above this level, it may touch the Rs 97/103 mark in the next few sessions.
Nifty future is stuck at the highs around 7300/7280 level. If it sustains below 7250/7225 level, we may see more profit booking scenario tomorrow.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.