Sensex, Nifty Stuck, Metals and Auto Slump
Suparna / 28 May 2014
The Indian markets observed side-ways moves in today’s trading session as investors continued to book profit in small portion throughout the day. At the closing bell Nifty index was higher by 17 points at 7335 and Sensex closed at a marginally higher by 6 points at 24556. All the major Asian markets closed in the positive territory today.
The Indian markets were side-ways with some directionless scenario from the today’s opening session. Most of the active participation was seen in Auto, Metals, Capital Goods and Small-Caps sector. Nifty closed higher by 17 points at 7335 and Sensex was up by 6 points at 24556.
The advance-decline ratio on NSE was positive, as the day ended with 2180 shares in green and 1354 shares in the red zone.
Top Nifty Gainers: UltraTech Cement gained 5.67% in today’s trade, followed by Ambuja Cement, Tata Power, ACC and HCL Tech.
Top Nifty Losers: Coal India closed the day lower by 3.07%, followed by ONGC, Asian Paints, M&M and Jindal Steel.
Most of the sectoral indices closed on a mixed note. Metals and Auto stocks got hammered in today’s trading session and went down by 200 points and 103 points respectively. It was followed by Oil & Gas and Consumer Durables which were also caught in profit booking move around 70 points each. However, IT and Bankex closed in positive territory up around 100 points each. Mid-Caps and Small-Caps also closed in the green zone.
All the major Asian markets had a good run on the bourses today and ended the day in the green territory. The Nikkei market closed up by 34 points, while Hang Seng witnessed positive move by 135 points, KOSPI and Shanghai Composite closed on the positive side as well.
Buzzer: HCL tech was up by more than 4% on the bourses today and closed up the technical level of Rs 1440. If the stock opens above this level, it may touch the Rs 1470/1485 mark in the next few sessions.
Nifty future closed around technical level of 7335. Going ahead the level of 7270/7250 will be the vital support for tomorrow’s expiry session.
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