Bulls Charge, Tata Steel Up By 5%
DSIJ Intelligence / 17 Dec 2015
The Indian markets witnessed some range bound movement in today’s trade. While after the mid-session indices saw an unexpected rally to give a fresh breakout, with Auto, Bankex, Metals and Healthcare leading the day. The Nifty ended higher by 93 points at 7844 and Sensex was up by 309 points at 25803. Both the indices ended higher by around 1.21 percent.
The Indian markets witnessed some range bound movement in today’s trade. While after the mid-session indices saw an unexpected rally to give a fresh breakout, with Auto, Bankex, Metals and Healthcare leading the day. The Nifty ended higher by 93 points at 7844 and Sensex was up by 309 points at 25803. Both the indices ended higher by around 1.21 percent.
The market breadth remained positive till closing hour, with 1944 advances and 751 declines on NSE.
Top 5 Nifty Gainers: Tata Steel was the top gainer for today’s session, closing higher by 5.07%. Among the other gainers were Tata Power, Vedanta, Hindalco and Yes Bank.
Top 5 Nifty Losers: Bosch ended lower by 2.1% today, followed by Cairn India, Idea Cellular, ONGC and Axis Bank.
Auto index gained a total of 240 points in today’s trade, Healthcare was up by 227 points, Bankex, Metals, IT and Capital Goods indices were higher in the range of 150. Mid-Caps and Small-Caps also saw positive trades, both higher around 180 points each in the closing session.
In Asia, the Nikkei was the top gainer and saw an appreciation of 303 points and Hang Seng ended higher by 170 points. Shanghai Composite, KOSPI and Taiwan Weighted closed with a nominal positive bias.
Buzzers: Tata Steel the scrip rose by 5.1% and closed above the technical level of Rs 255. If it holds these gains, it may reach a level of upto Rs 270 in the next few trading sessions.
Nifty Futures saw a handsome up-move and closed above 7850, indicating more strength ahead.
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