Market Recovers, Auto & Banks Outperforms

The benchmark indices witnessed a massive recovery in today’s trading session. Auto and Banking indices pulled the index on the higher sides that were up by more than 400 points each. Capital Goods and Healthcare stocks also surged and their indices were up by 280 points each. Mid-caps and Small-Caps also closed in positive territory. The Nifty reclaimed and closed around the technical level of 8200 mark, up by 134 points at 8191 while Sensex was up by 506 point and closed at 27150. 

The advance-decline ratio on NSE was on the positive side, as the day ended with 1865 shares in green and 835 shares in the red zone.

Top Nifty Gainers: Tata Motors closed the day higher by 5.24%, followed by Cipla, ICICI Bank, Yes Bank and Hindalco.

Top Nifty Losers: PNB closed the day lower by 6.57%, followed by Bank Of Baroda, Hero Motocorp, Idea Cellular and ONGC.

Most of the sectoral indices witnessed good recovery. Auto and Banking stocks witnessed handsome rally and broke all the technical hurdles and were up by more than 400 points. This was followed by Capital Goods and Healthcare index that were up by around 280 points each. While Mid-Caps and Small-Caps also closed in green territory. However Consumer Durables index remained in stress and its index was down by 162 points.

The Asian markets continued with some positive scenario. The Nikkei market saw up moves by 87 points, followed by Hang Seng market that was up by 287 points. While the Straits Times and Shanghai Composite market saw nominal positive trades.    

Buzzer: Tata Motors was up by more than 5.24% on the bourses today and closed up at the technical level around Rs 500. If the stock opens above this level, it may touch Rs 530/550 mark in the next few sessions.

The Nifty Future holds and closed above 8150 mark, indicating vital support on lower levels.