Indices Continue With Their Upward Journey

The Indian markets witnessed massive up move after European Central Bank launched quantitative easing program to boost their sagging economy. Auto and Capital Goods indices were the outperformers of the day and were up by 299 points and 221 points respectively. Followed by Banking stocks that climbed by 179 points. The Nifty continue with the upward momentum and ended up by 74 points and closed at 8835 while Sensex was up by 272 points at 29278 at the closing bell.

The advance-decline ratio on NSE was negative side, as the day ended with 1132 shares in green and 1818 shares in the red zone.

Top Nifty Gainers: Tata Power closed the day higher by 6.66%, followed by DLF, Cairn India, Tata Motors, Bharti Airtel.

Top Nifty Losers: PNB closed the day lower by 2.66%, followed by BHEL, GAIL, ONGC and HCL tech.

Most of the sectoral indices were positive in today’s session. Auto and Capital Goods stocks broke all the major hurdles, up by 299 points and 221 points respectively. Followed by Banking and Metals indices also provide good support, up by 179 points and 89 points respectively. While FMCG, Health Care and IT stocks also closed in positive territory. However Mid-Caps and Small-Caps stocks witnessed some profit booking trade closed in red mark, down by 14 points and 83 points respectively.

All the Asian markets also shown moved up in today’s trade. The Hang Seng market saw upmove by 327 points. This was followed by Nikkei and Taiwan index that closed up by 182 points and 101 points respectively. While the Straits Time and Shanghai market closed on the positive note.       

Buzzer: Tata Power was up by more than 6.5% 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 92/99 mark in the next few sessions.

Nifty future took vital support on lower side around 8780/8750 levels. If it’s sustain above 8800 mark may see trade above 8900 level.