Indices Continue With Positive Momentum

The Indian stock markets maintained a positive momentum in today’s session. Some profit booking was seen in mid-session. The Capital Goods index was a bloomer, surges by 636 points and pulled benchmark on the higher side. Bankex and Healthcare index were up by 408 points and 296 points respectively. The Nifty index continued with it’s strength, was up by 54 points and closed at 8956 level, while Sensex was up by 97 points at 29459 level.

The advance-decline ratio on NSE was a positive side, as the day ended with 1529 shares in green and 1330 shares in the red zone.

Top Nifty Gainers: UltraTech Cement closed the day higher by 7.46 per cent, followed by Grasim, Axis Bank, IDFC and Cipla.

Top Nifty Losers: ITC closed the day lower by 5.01 per cent, followed by Bajaj Auto, Jindal Steel, Hero Motocorp and Bharti Airtel.

Most of the sectoral indices were positive in today’s session. Capital Goods stocks rallied, and was up by 636 points. While Bankex and Healthcare stocks were also appreciated, up by 408 points and 296 points respectively. Mid-Caps and Small-Caps index also shown handsome recovery, up more than 150 points each. However, FMCG and Consumer Durables index closed with some profit booking trade, down by 155 points and 120 points respectively.

Most of the Asian markets ended with marginal gains. The Hang Seng market saw upward momentum by 64 points. Nikkei and Shanghai Composite markets were up by 28 points and 25 points respectively.

Buzzer: Ultra tech Cement was up by more than 7.46 per cent on the bourses today, and closed up at the technical level of around Rs 3350. If the stock opens above this level, it may touch Rs 3390/3420 mark in the next few sessions.

Nifty Futures have staged a scintillating rally, and managed to close above the technical level of 9000. Above this level, the picture will remain positive.