Nifty Pulls Back, Bankex & Capital Goods Surge
Suparna / 09 Oct 2014
The Indian markets witnessed massive amount of buying in today’s session. All the sectoral indices not only recovered from the lower end but also broke their respective hurdles. Bankex and Capital Goods were the outperformers as they rallied above 400 points. As a result the Nifty closed up by 117 points at 7960 and Sensex was up by 390 points at 26637 in the closing bell.
The Indian markets witnessed massive amount of buying in today’s session. All the sectoral indices not only recovered from the lower end but also broke their respective hurdles. Bankex and Capital Goods were the outperformers as they rallied above 400 points. As a result the Nifty closed up by 117 points at 7960 and Sensex was up by 390 points at 26637 in the closing bell.
The advance-decline ratio on NSE was positive, as the day ended with 2374 shares in green and 1288 shares in the red zone.
Top Nifty Gainers: BHEL gained 8.39% in today’s trade, followed by Hindalco, Zee Entertainment, Ambuja Cement and ACC.
Top Nifty Losers: Tech Mahindra closed the day lower by 2.49%, followed by Wipro, NMDC, BPCL and NTCP.
All sectoral indices were in the positive zone in today’s session. Bankex and Capital Goods were the outperformers of the day, up more than by 400 points. Metals, Mid-Caps and Small-Caps were up around 200 points. While Health Care, Oil & Gas and Auto closed on a positive note, up around 150 points.
Most of the Asian markets had a positive session on the bourses today and ended the day in the downward territory. The Hang Seng market saw up move by 271 points, while Taiwan index and Shanghai Composite also closed on a positive note. However the Nikkei market closed up by 117 points.
Buzzer: Zee Entertainment was up by more than 4.5% on the bourses today and closed up at the technical level around Rs 320. If the stock opens above this level, it may touch Rs 335/350 mark in the next few sessions.
Nifty future recovered from its vital support level which was at 7880. Going ahead major hurdles will be 8010 and 8040 mark.
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