Index Range-Bound, IT Shines

The Indian markets witnessed trading in a tight range during today’s market session. The IT stocks have been seeing a gradual up move from last few trading sessions, with the index up by 186 points followed by Capital Goods, Consumer Durables and Auto index were up more than 100 points each. The Nifty ended down by 10 points at 8466 and the Sensex was down by 46 points at 27831. The indices are trading on a negative note between 0.13 and 0.46 percent.

The advance-decline ratio is on the positive side. On the NSE, 1635 shares are in the green and 1234 shares are in the red.

Top 5 Nifty Gainers: BPCL is leading the gainers list so far and is trading higher by 3.6 %. It is followed by Tata Steel, TCS, Infosys and Tech Mahindra are among other gainers.

Top 5 Nifty Losers: GAIL is leading the losers list so far and is trading lower by 4.4%. It is followed by Coal India, NMDC, Cipla and Cairn India.

In the closing-market session, 9 out of the 13 sectors are seen trading in the green zone. IT has seen the highest gains and closed higher by 186 points. Capital Goods, Consumer Durables and Auto were up more than 100 points each. Mid-caps and Small-caps also were both up by about 50 points each. However Metals, Healthcare and Bankex closed in negative territory.

All the Asian markets were closed on a negative note. Hang Seng is the top loser so far and has depreciated by 339 points. The Nikkei was lower by 65 points. The Straits Times and KOSPI also closed on a negative note.

Buzzer: BPCL surged by 3% because of the possibility of major short covering. The stock broke its first resistance of Rs 896 per share. If it sustains at current levels, we may see it at around Rs 910 per share soon.

The Nifty future was struggling to close above the 8500 level. Below this level it may touch 8440/8380 mark.