Sensex, Nifty Surges, Bankex Resilient.
Suparna / 28 Feb 2015
In an unusual move, equity market was opened today on account of Union Budget. In today’s trade Indices witnessed a choppy action till mid-session. However, the Bankex stocks shown the scintillating rally to pull the markets in last hour of trade, and Banking index were up by 714 points. The Markets closed at the highest mark of the month with record break volume. The Nifty broke all the major hurdles and closed up by 57 points at 8901 while Sensex was up by 141 points at 29361 at the closing bell.
In an unusual move, equity market was opened today on account of Union Budget. In today’s trade Indices witnessed a choppy action till mid-session. However, the Bankex stocks shown the scintillating rally to pull the markets in last hour of trade, and Banking index were up by 714 points. The Markets closed at the highest mark of the month with record break volume. The Nifty broke all the major hurdles and closed up by 57 points at 8901 while Sensex was up by 141 points at 29361 at the closing bell.
The advance-decline ratio on NSE was negative side, as the day ended with 1237 shares in green and 1496 shares in the red zone.
Top Nifty Gainers: Axis Bank closed the day higher by 8.01%, followed by IndusInd Bank, kotak Mahindra Bank, Sun Pharma and ICICI bank.
Top Nifty Losers: ITC closed the day lower by 8.22%, followed by BHEL, NMDC, NTPC and Hindalco.
The performance of sectoral indices were mixed in today’s trading session. Bankex stocks witnessed a surprisingly resilience move to pull the indices on the higher side, up by 714 points. This was followed by Healthcare and Auto stocks that were also up by 315 points and 213 points respectively. However FMCG and Consumer Durables stocks were hammered, down by 350 points and 217 points respectively. Mid-Caps and Small-Caps also closed in negative territory.
Buzzer: Axis Bank was up by more than 8.01% on the bourses today and closed up at the technical level around Rs 600. If the stock opens above this level, it may touch Rs 620/640 mark in the next few sessions.
Nifty Future witnessed a bullish kicking pattern in today’s intraday chart after broke 8950 level. Indicating more positive scenario ahead.
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