Markets Side-Ways, Metals Shine

The Indian markets witnessed sideways movement in today’s session. Metals witnessed good up-moves followed by Capital Goods and Consumer Durables. Mid-Caps and Small-Caps also closed up more than 100 points. The Nifty saw up-move by 16 points at 7640 and Sensex was up by 11 points at 25561 at closing bell.

The advance-decline ratio on NSE was positive, as the day ended with 2071 shares in green and 1522 shares in the red zone.

Top Nifty Gainers: Hindalco gained 3.48% in today’s trade, followed by Grasim, Tata Power, Kotak Mahindra and UltraTech Cement.

Top Nifty Losers: M&M closed the day lower by 3.16%, followed by IDFC, Bajaj Auto, DLF and GAIL.

Most of the sectoral indices closed on a positive note. Metals was the outperformer of the day, up around 319 points. Capital Goods and Consumer Durables stocks also witnessed massive amount of recovery in today’s trading session and went up by 200 points. Mid-Caps and Small-Caps were also up by more than 100 points each. However Oil & Gas and Auto closed on negative note.

All the major Asian markets had a negative session on the bourses today and ended the day in the upward territory. The Nikkei market witnessed down move by 9 points, the Hang Seng market closed down by 2 points, while Taiwan and Shanghai closed on the negative side.    

Buzzer: Hindalco was up by more than 3.4% on the bourses today and closed up at the technical level of Rs 185. If the stock opens above this level, it may touch Rs 194/199 mark in the next few sessions.

Nifty future closed above the technical level of 7650. If it sustains this level, it may see 7680/7720 levels for further trade.