Bulls In Action, Bankex Up By 500 Points

Indian markets witnessed a superb recovery in today’s session. All the sectoral indices closed on positive note. Banking index was outperformer of the day and was up by 500 points. While Capital Goods and Consumer Durables also shown handsome up move of more than 450 points each. As a result the Nifty recovered from the lower end and closed up by 129 points at 8159 mark and Sensex was 416 points up at 27126 in today’s closing.

The advance-decline ratio on NSE was on the positive side as the day ended with 2173 shares in green and 690 shares in the red zone.

Top Nifty Gainers: Jindal Steel gained 7.48% in today’s trade, followed by BHEL, Bank Of Baroda, Cairn India and GAIL.

Top Nifty Losers: Grasim closed the day lower by 0.77%, followed by M&M, Dr Reddys Labs and HUL.

All the sectoral indices closed on a positive note. Banking stocks recovered from the lower end and was up by 500 points. Followed by Consumer Durables and Capital Goods that too closed in a positive territory and were up by more than 450 points each. Auto, Metals Oil & Gas and IT also saw good strength. Mid-Caps and Small-Caps were up by 258 points and 344 points respectively.     

All the major Asian markets closed the day on a positive note. The Nikkei index witnessed positive closing of 390 points, followed by Hang Seng closed that closed up by 246 points. Taiwan ans Straits Time Index too closed in green note.  

Buzzer: Jindal Steel was up by more than 7% on the bourses today and closed near the technical level of Rs 135. If the stock opens above this level, it may touch the Rs 150/160 mark in the next few sessions.

Nifty Future witnessed massive recovery from the technical level of 8000 mark. Indicating that it’s has good strength around this level. Going ahead, 8230 and 8280 levels will be the immediate resistance.