Indices Range Bound, Metals and Small Caps Shine.
Suparna / 22 May 2014
The Indian markets witnessed a range bound trade in today’s trading session. The Consumer Durables stock showed a superb up-move, and some of them made fresh 52-week highs. As a result, the 50 share Nifty index closed up by 23 points at 7276 and the 30 share BSE was up by 76 points to trade at 24374 in the closing bell.
The Indian markets witnessed range bound sessions today. Followed by Consumer Durables stock, Metals and Small Caps also provided good support to indices. Whereas IT dragged the indices on the lower side. The Nifty closed higher by 23 points at 7276 and Sensex was up by 76 points at 24374.
The advance-decline ratio on NSE was positive, as the day ended with 2499 shares trading in green and 1047 shares in the red zone.
Top Nifty Gainers: DLF gained 9.44% in today’s trade, followed by NTPC, Coal India, Maruti Suzuki and Sesa Sterlite.
Top Nifty Losers: Hindalco closed the day lower by 2.88%, followed by BHEL, HDFC, Bharti Airtel and Wipro.
Most of the sectoral indices closed on a mixed note. The shares of Consumer Durables stock rallied in today’s trading session, up by 527 points. It was followed by Metals and Small Caps that also witnessed good up-move of around 200 points each. While the Bankex, Oil & Gas and Mid-Caps closed in the positive territory, up around 100 points each. However IT made some profit booking trade and went down by 25 points.
All the major Asian markets closed on the positive note in today’s session. The Nikkei market closed up by 295 points, while, Hang Seng witnessed an up-move of 117 points. However KOSPI and Taiwan closed on the positive note.
Buzzer: Hindalco was down by more than 2.88% on the bourses today and closed around the technical level of Rs 155. If the stock opens below this level, it may touch the Rs 145/138 mark in the next few sessions.
Looking at the present scenario, Nifty future may consolidate around 7280-7340 level. This level will act as a trend decider level for further trading sessions.
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