Markets Choppy, End The Week On A Record High
Suparna / 04 Jul 2014
Ahead of Finance Minister Arun Jaitley’s maiden budget presentation next week, the Indian markets today closed on new lifetime high levels after recovering from the lower ends during the closing session. Most of the sectors closed in the positive terrain with Oil & Gas and Bankex witnessing a handsome upward move. At the closing bell the Nifty index was up by 36 points at 7751 and the Sensex was higher by 138 points to trade at 25962.
The Indian market witnessed a choppy trading and closed on a positive note in today’s trading session. Oil & Gas and Bankex closed on the positive note. However, Metals and Capital Goods closed in the negative territory. The Nifty saw an up move by 36 points at 7751 and Sensex was up by 138 points at 25962.
The advance-decline ratio on NSE was positive, as the day ended with 1957 shares in green and 1617 shares in the red zone.
Top Nifty Gainers: Power Grid gained 2.63% in today’s trade, followed by Reliance, HDFC Bank, Dr Reddys’ Lab and GAIL.
Top Nifty Losers: ACC closed the day lower by 1.97%, followed by Sesa Sterlite, Wipro, Jindal Steel and United Spirits.
Most of the sectoral indices closed on a positive note. Oil & Gas and Bankex stocks witnessed handsome recovery in today’s trading session and went up by around 100 points. Mid-caps and Small-caps also saw an uptrend around 50 points each, while Healthcare, Auto and IT closed on the positive side. However, Metals and Capital goods closed on the negative side.
All the major Asian markets had a mixed session on the bourses today and ended the day in the positive territory. The Nikkei market witnessed up move by 88 points, the Hang Seng market closed up by 14 points, while Taiwan and Shanghai closed on the negative side.
Buzzer: Power Grid was up by more than 2.63% on the bourses today and closed down at the technical level of Rs 140. If the stock opens above this level, it may touch Rs 155/165 mark in the next few sessions.
Nifty future has recovered from its vital support level which was around 7670 and also closed above 7750, indicating more positive trend ahead.
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