Indices Bullish, End On Record High

The Indian markets witnessed superb buying in today’s session. Bankex and Metals pulled the indices on the higher side, up by 409 points and 305 points respectively. Auto, FMCG and Oil & Gas index was up more than 100 points each. As a result the Nifty witnessed non-stop rally, and ended on record high, up by 144 points at 8695 and Sensex was up by 522 points at 28784 in the closing bell.

The advance-decline ratio on NSE was positive side, as the day ended with 1570 shares in green and 1410 shares in the red zone.

Top Nifty Gainers: HDFC closed the day higher by 5.91%, followed by Sesa Sterlite, Tata Steel, Axis Bank and Tata Motors.

Top Nifty Losers: GAIL closed the day lower by 2.09%, followed by Tata Power, Maruti Suzuki, Dr. Reddys Labs and M&M.

All the sectoral indices were positive in today’s session. Banking and Metal stocks saw southward move, up by 409 points and 305 points respectively. Auto, FMCG and Oil & Gas stocks also closed in the positive territory, up more than 100 points. Capital Goods, Mid-Cap and Small-Cap stocks provided some support, up around 50 points each. However Consumer Durable closed in red mark, down by 6 points.    

The Asian markets also outperformed in today’s trade. The Nikkei market saw up move by 352 points. Hang Seng recovered from the lower end, closed up by 212 points. The Taiwan, Shanghai Composite and KOSPI Index closed in green territory.       

Buzzer: HDFC was up by more than 5.5% on the bourses today and closed up at the technical level around Rs 1250. If the stock opens above this level, it may touch Rs 1290/1320 mark in the next few sessions.

Nifty future has given a bullish crossover as it closed above 8700 mark. If Nifty continues with the current scenario, it may touch 9000 mark before January month expiry.