Sensex Above 26k, Reliance And Bharti Airtel Rally
Suparna / 22 Jul 2014
The markets witnessed an upward rally in the latter half of the mid trading session today pulling the indices northward. Most of the buying was seen in IT and Oil & Gas. The 50 share Nifty index closed up by 83 points at 7767 and the Sensex ended the day on high at 26025, higher by 310 points.
The Indian markets continued to be optimistic in today’s trading session. IT sector was the out performer of the day, followed by Oil & Gas and Metals. The Nifty index closed on a positive note, up by 83 points at 7767 and Sensex was 310 points up at 26025.
The advance-decline ratio on NSE was on the negative side as the day ended with 1776 shares in green and 1809 shares in the red zone.
Top Nifty Gainers: Bharti Airtel gained 5.03% in today’s trade, followed by Reliance, HDFC, TCS and Dr. Reddys Labs.
Top Nifty Losers: Maruti Suzuki closed the day lower by 1.10%, followed by L&T, PNB, Power Grid Corp and M&M.
Most of the sectoral indices closed on a positive note. IT witnessed a bull rally and surged up by 168 points. Oil & Gas and Metals also witnessed good positive trade, up by 150 each. Auto and Consumer Durables also closed on a positive note. However, Capital Goods closed on the lower end, down by 108 points.
All the major Asian markets closed the day on a positive note. Hang Seng closed down by 394 points, whereas Nikkei index closed up by 127 points. Taiwan and Shanghai also closed in the positive territory.
Buzzer: Bharti Airtel was up by more than 5.03% on the bourses today and closed near the technical level of Rs 350. If the stock opens above this level, it may touch the Rs 370/385 mark in the next few sessions.
Nifty Future closed to make fresh bullish crossover as it closed above 7750 level. If it opens above this level, it may see trade above 7800 level.
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