Bulls Unbeatable, Auto Outperforms

The Indian markets continued with its omnipresent gains to close on a record high in the second consecutive trading session. Most of the sectoral indices closed on a positive note. Auto, Capital Goods and Oil & Gas saw super uptrend and pulled the index on the higher side. At the end of the trading session, Nifty index was up by 23 points at 7897 and the Sensex ended the day higher at 26420, up by 29 points.

The advance-decline ratio on NSE was on the positive side as the day ended with 1949 shares in green and 1634 shares in the red zone.

Top Nifty Gainers: BPCL gained 3.94% in today’s trade, followed by M&M, IndusInd Bank, United Spirits and Tata Motors.

Top Nifty Losers: HDFC closed the day lower by 2.47%, followed by TCS, HDFC Bank, Sun Pharma and Hindalco.

Most of the sectoral indices closed on a positive note. Auto and Capital Goods were the outperformers of the day, up by 374 points and 163 points respectively. Bankex, Mid-Caps and Small-Caps also witnessed positive trade of more than 100 points. Health Care, Metals, Consumer Durables also closed on a higher note. However IT closed in the negative territory.

All the major Asian markets closed the day on a positive note. Hang Seng closed up by 167 points, whereas Nikkei index closed up by 127 points. Taiwan and KOSPI closed in the positive territory.

Buzzer: M&M was up by more than 3.5% on the bourses today and closed near the technical level of Rs 1375. If the stock opens above this level, it may touch the Rs 1400/1425 mark in the next few sessions.

Nifty Future continues with the bullish momentum as it closed above the technical level of 7900. Going ahead, 7925/7950 will be the major hurdle level.