Markets Recover, Small Caps Outperforms

The Indian markets saw superb recovery in today’s session. The Capital Goods and Bankex stocks pulled the benchmark indices on the higher side. Mid-Caps and Small-Caps also outperformed and closed up by 199 points and 354 points respectively. All the scetoral indices closed on positive mark. As a result the Nifty ended today’s session with a gain of 150 points and closed at 8492 whereas Sensex closed 517 points up and closed at 27975.

The advance-decline ratio on NSE was on the positive side as the day ended with 2046 shares in green and 755 shares in the red zone.

Top Nifty Gainers: Idea Cellullar gained 6.21% in today’s trade, followed by UltraTech Cement, Asian Paints, HDFC and Bharti Airtel.

Top Nifty Losers: Tech Mahindra closed the day lower by 2.93%, followed by Hindalco, Cairn India, Tata Power and Reliance Industries.

All the sectoral indices closed on a positive note. Capital Goods stocks rallied in today’s session, and were up by 476 points. Bankex and Auto Index also closed in the positive territory and were up around by 300 points each. Mid-Caps and Small-Caps also surged well, and were up by 496 points and 199 points respectively. Metals, IT and Oil & Gas struggled, but ended on positive note with a gain of 100 points each.     

All the major Asian markets also closed the day on a positive note. The Hang Seng index closed up by 368 points from its previous close. Nikkei and Shanghai Composite closed in the green territory, up around 100 points each. Taiwan Index and KOSPI market closed nominally positive in today’s session.

Buzzer: Idea Celluler was up by more than 6.2% on the bourses today and closed near the technical level of Rs 180. If the stock opens above this level, it may touch the Rs 192/210 mark in the next few sessions.

Nifty Future closed in shown handsome rally and closed below 8550 mark. Indicating good strength around the lower level of 8490/8460 marks.