Bulls On The Upper Hand, Bankex On Top
Nutan Gupta / 02 Jan 2015
The Indian markets continued with its positive journey in today’s session. The Banking index made new life high as stocks like ICICI Bank, Axis Bank, HDFC Bank and Yes bank broke all the hurdles to pull the indices on top. Capital Goods and Auto index also showed massive up move at the closing buzz. Nifty gave handsome move and ended up by 120 points at 8404 whereas Sensex closed 380 points up at 27887.
The Indian markets continued with its positive journey in today’s session. The Banking index made new life high as stocks like ICICI Bank, Axis Bank, HDFC Bank and Yes bank broke all the hurdles to pull the indices on top. Capital Goods and Auto index also showed massive up move at the closing buzz. Nifty gave handsome move and ended up by 120 points at 8404 whereas Sensex closed 380 points up at 27887.
The advance-decline ratio on NSE was on the positive side as the day ended with 1784 shares in green and 1148 shares in the red zone.
Top Nifty Gainers: HDFC gained 4.63% in today’s trade, followed by Jindal Steel, Asian Paints, ICICI Bank and Grasim.
Top Nifty Losers: BPCL closed the day lower by 1.25%, followed by M&M, NMDC, HUL and Reliance.
Most of the sectoral indices closed on a positive note. Bankex stocks pulled the indices on the higher side, up more than 300 points. Capital Goods and IT also showed handsome up-move, up by 250 points and 150 points respectively. Metals, Auto, Mid-Cap and Small-Caps also closed in the positive territory.
All the major Asian markets closed the day on a positive note. The Hang Seng index witnessed positive closing, up by 252 points. KOSPI Index closed in the green territory, up by 10 points. Nikkei, Taiwan and Shanghai Composite markets remain closed for today session.
Buzzer: Asian Paints was up by more than 3% on the bourses today and closed near the technical level of Rs 770. If the stock opens above this level, it may touch the Rs 790/810 mark in the next few sessions.
Nifty Future has given a bullish crossover as it closed above 8400 mark. If it sustains above this level, it may touch 8500/8550 levels.
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