Indices Witness Bounce From Lower Level

The Indian markets witnessed a bounce from their respective supports. The markets saw some profit booking scenario in the mid-session, however Bankex managed to pull the indices towards the higher side. As a result, the Nifty saw up-move by 72 points at 7526 and Sensex was up by 221 points at 25228 in the closing bell.

The advance-decline ratio on NSE was positive, as the day ended with 2160 shares in green and 1433 shares in the red zone.

Top Nifty Gainers: SBIN gained 4.42% in today’s trade, followed by Bank Of Baroda, ICICI Bank, NMDC and BHEL.

Top Nifty Losers: Dr Reddys Labs closed the day lower by 2.08%, followed by NTPC, Hero Motocorp, Asian Paints and TCS.

Most of the sectoral indices closed on a positive note. Bankex was the outperformer of the day and went up by around 450 points. Capital Goods, Consumer Durables and Auto stocks also witnessed massive amount of recovery in today’s trading session and went up by 250 points. Mid-Caps and Small-Caps were also up by more than 150 points each. However IT and FMCG closed in the red territory.   

All the major Asian markets had a positive session on the bourses today and ended the day in the upward territory. The Nikkei market witnessed up move by 98 points, the Hang Seng market closed up by 113 points, while Taiwan and KOSPI closed on the positive side.    

Buzzer: Bank Of Baroda was up by more than 4% on the bourses today and closed up at the technical level of Rs 825. If the stock opens above this level, it may touch Rs 830/840 mark in the next few sessions.

Nifty future recovered from the lower level which was around 7470 and closed above the technical level of 7500, indicating some strength at lower level.