Indices Nominally Positive, Bankex Surge
Suparna / 21 Aug 2014
The Indian markets witnessed consolidation in small range in today’s trade. While banking stocks like PNB, Union bank, Bank of Baroda and SBI saw massive up trend, the sectors like Consumer Durables and Auto also provided good support to the indices. The Nifty index ended up by 15 points at 7891 and Sensex closed up by 45 points at 26360.
The Indian markets witnessed consolidation in small range in today’s trade. While banking stocks like PNB, Union bank, Bank of Baroda and SBI saw massive up trend, the sectors like Consumer Durables and Auto also provided good support to the indices. The Nifty index ended up by 15 points at 7891 and Sensex closed up by 45 points at 26360.
The advance-decline ratio on NSE was on the positive side as the day ended with 1951 shares in green and 1665 shares in the red zone.
Top Nifty Gainers: PNB gained 3.85% in today’s trade, followed by Bajaj Auto, BPCL, Bank of Baroda and SBI.
Top Nifty Losers: DLF closed the day lower by 2.29%, followed by United Spirits, NTPC, Sesa Sterlite and Tata Steel.
Most of the sectoral indices closed on a positive note. Consumer Durables witnessed massive up move by 333 points. Bankex, Auto and Capital Goods also saw a positive momentum of around 100 points each. However, Metals and IT sector remained in the negative territory.
All the major Asian markets closed the day on a mixed note. Hang Seng closed down by 165 points, whereas Taiwan Index and Strait Times Index closed down by 58 points and 23 points respectively. However Nikkei closed in the positive territory.
Buzzer: PNB was up by more than 3.5% on the bourses today and closed near the technical level of Rs 965. If the stock opens above this level, it may touch the Rs 980/1010 mark in the next few sessions.
Nifty Future sustained above technical level of 7900. Going ahead, if it breaks the level of 7950, Nifty may hit the level of 8000.
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