Market Pulls, Bankex & Metals Shine

The Indian markets saw small recovery in today’s session. The stocks like Banking & Metals were up by 238 points and 149 points respectively. However Health Care, Capital Goods & FMCG closed in the negative territory. The Nifty closed up by 24 points at 7884 and Sensex was up by 86 points at 26384 in the closing bell.

The advance-decline ratio on NSE was on the mixed side, as the day ended with 1807 shares in green and 1849 shares in the red zone.

Top Nifty Gainers: Tata Power gained 2.84% in today’s trade, followed by NMDC, PNB, Tata Steel and Axis Bank.

Top Nifty Losers: DLF closed the day lower by 3.77%, followed by M&M, Cipla, Sun Pharma and Dr Reddys Labs.

Most of the sectoral indices were positive in today’s session. Bankex and Metal were up by 238 points and 149 points respectively. IT stocks were up by 124 points. While mid-caps and small-caps closed on a positive note, up around 40 points each. However Health Care, Capital Goods and FMCG closed in the negative territory.     

Most of the Asian markets had a negative session on the bourses today and ended the day in the downward territory. The Nikkei market saw down move by 178 points, while Taiwan and Straits Times also closed on a negative note. However the Hang Seng market closed up by 54 points.     

Buzzer: Tata power was up by more than 2.5% on the bourses today and closed up at the technical level around Rs 85. If the stock opens above this level, it may touch Rs 93/99 mark in the next few sessions.

Nifty future took vital support around 7830/7850 levels. On the other hand 7930/7960 will be the major hurdles ahead.