Indices Flattish, Capital Goods Surge

The Indian markets continued to trade in the consolidation phase with some directionless movement. Capital Goods stocks made superb move, up by 255 points. Metals, Auto and Small-caps were up by more than 100 points each. However IT, Oil & Gas and Consumer Durables closed in the negative territory. At the of today’s session, Nifty closed nominally down by 4 points at 8425 and Sensex was 14 points lower at 28163.

The advance-decline ratio on NSE was on the positive side as the day ended with 2058 shares in green and 1652 shares in the red zone.

Top Nifty Gainers: Sesa Sterlite gained 3.78% in today’s trade, followed by IDFC, BHEL, PNB and LT.

Top Nifty Losers: HDFC closed the day lower by 2.15%, followed by Kotak Mahindra, Sun Pharma, Hindalco and ONGC.

Most of the sectoral indices closed on a positive note. Capital Goods witnessed massive rally in today’s trade, up by 255 points. Metals, Auto and small-caps also surged more than 100 points each. Bankex and mid-caps also closed in the positive territory, up by 60 points and 27 points respectively. However Consumer Durables, IT and Oil & Gas saw some downward movement. 

All the major Asian markets closed the day on a mixed note. Nikkei closed up by 370 points, whereas Hang Seng Index closed down by 267 points. Taiwan and Shanghai Composite also closed in the negative territory, down by 25 points and 16 points respectively.  

Buzzer: Sesa Sterlite was up by more than 3.78% on the bourses today and closed near the technical level of Rs 240. If the stock opens above this level, it may touch the Rs 255/270 mark in the next few sessions.

Nifty Future consolidated in the narrow range around 8440-8460 levels. Going ahead, 8480 will be the major hurdle. On the other hand 8430 level will act as a vital support.