Range Bound Indices Close On A Negative Note
Suparna / 04 Jun 2014
It was a volatile trading day on Dalal Street today as market witnessed some amount of profit booking after yesterday’s record high closing. NMDC was the outperformer of the day and gained 5.25% on the bourses. On the closing bell the Nifty index closed lower by 13 points at 7402 and Sensex was negative by 52 points at 24805 level.
The Indian markets witnessed side-ways moves in today’s trading session. Capital Goods and Metals stock continued with the positive momentum, however, Oil& Gas and IT saw some profit booking trade after mid-morning session. The Nifty index closed on a negative note by 13 points at 7402 and Sensex was 52 points down at 24805.
The advance-decline ratio on NSE was on the positive side as the day ended with 2376 shares in green and 1181 shares in the red zone.
Top Nifty Gainers: NMDC gained 5.25% in today’s trade, followed by IDFC, Hindalco, Hero Motocorp and PNB.
Top Nifty Losers: HCL Tech closed the day lower by 2.97%, followed by TCS, Bharti Airtel, Reliance and ONGC.
Most of the sectoral indices closed on a positive note. Capital Goods and Metals witnessed superb up move by 194 points and 154 points respectively. Bankex, Auto and Consumer Durables witnessed some positive trade. Mid-Caps and Small-Caps also were closed in the positive territory. However IT and Oil & Gas saw some profit booking trade.
All the major Asian markets closed the day on a mixed note. Hang Seng closed down by 139 points, whereas Nikkei index closed up by 33 points. Taiwan and Shanghai also closed in the positive territory.
Buzzer: NMDC was up by more than 5.25% on the bourses today and closed near the technical level of Rs 190. If the stock opens above this level, it may touch the Rs 205/225 mark in the next few sessions.
Nifty Future closed on the negative side. However, it closed above 7400 level. Which is a positive indicator for further trading session.
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