Indices Bounce Back

The Indian markets witnessed a good upswing in today’s session. The Capital Goods and Bankex were the outperformers and liftedthe benchmarks on the higher side. All the sectoral indices closed on positive note. As a result, the Sensex ended up 359 points higher at 26840 and Nifty up by 102 points at 8124. Both the indices closed with a positive bias of around 1.3 per cent.

The advance-decline ratio ended positive atthe closing session. On the NSE, 1579 shares closed in green, while 687 shares ended the day in red.

Top 5 Nifty Gainers: Cairn India saw the highest gains of 5.03%. BHEL, L&T, Reliance and Indusind Bank were the others trading higher.

Top 5 Nifty Losers: Ambuja Cement closed down by 0.89%, followed by NMDC, Power Grid, Lupin and HUL.

13 of the 13 sectors ended in the green. The Capital Goods index was the top gainer, up by 350 points. Bankex and Auto also ended in the green, up by 250 points each. Mid-Caps and Small-Caps were both up more than 100 points.

The Asian markets closed on a mixed note. The Nikkei market closed in negative territory, down by 3 points. However, the Hang Seng was higher by 56 points, and Shanghai and Taiwan also ended on a positive note.

Buzzer: BHEL stock surged around 3.2 per cent and hovers around its technical level of 250. If the stock sustains above this level, then it may touch Rs 262/270 in the next few sessions.

Nifty future heldand took vital support around 8000 mark. Going ahead if index sustains above 8150 level then we willsee more upward movement.