Auto & Bankex Pull Indices On The Higher Side
Suparna / 12 Aug 2014
The markets witnessed superb trading session till closing buzz. Auto and Banking stocks continued to pull the indices on the higher side, followed by Oil & Gas, Capital Goods and Health Care which closed on a positive note. The Nifty index saw up trade by 101 points at 7727 and Sensex closed up by 361 points at 25880.
The markets witnessed superb trading session till closing buzz. Auto and Banking stocks continued to pull the indices on the higher side, followed by Oil & Gas, Capital Goods and Health Care which closed on a positive note. The Nifty index saw up trade by 101 points at 7727 and Sensex closed up by 361 points at 25880. The markets continued to trade high amid easing of geo-political tension. However BSE Mid Cap and Small Cap indices were up by 0.49% and 0.45% respectively. The overall market breadth was positive.
The advance-decline ratio on NSE was positive, as the day ended with 1842 shares in green and 1744 shares in the red zone.
Top Nifty Gainers: Tata Motors gained 6.15% in today’s trade, followed by GAIL, HDFC, UltraTech Cement and ONGC.
Top Nifty Losers: Bharti Airtel closed the day lower by 1.73%, followed by Hero MotoCorp, ITC, Hindaco and Maruti Suzuki.
On the sectoral front, the auto index was the gainer and was up by 1.11% after Tata motors, reported exceptional numbers for the quarter ended June 30. The shares of Tata motors closed at Rs 473.90, up by 5.92%. The other auto stocks that rallied were Mahindra and Mahindra and Maruti, which saw a jump on the back of strong sales. The oil and gas sector was up by 0.92%, after GAIL, Sun Pharma, ONGC and Tata power reported strong set of numbers in the quarter ended June 30. Realty and infrastructure stocks were seen trading up after SEBI gave nod for investment trust norms. Meanwhile BSE Teck slipped and was seen trading in negative.
All the major Asian markets closed on the positive note in today’s session. The Nikkei market closed up by 30 points, while Hang Seng witnessed up-move by 43 points. Taiwan and Shanghai closed on the lower ends.
Buzzer: Tata Motors was up by around 6% on the bourses today and closed above the technical level of Rs 474. If the stock opens above this level, it may touch the Rs 485/495 mark in the next few sessions.
Nifty future has given a bullish crossover as it closed above the technical level of 7750. For tomorrow’s session, the doors are open for 7800 and above levels.
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