Indices struggle on higher ends due to short covering; Healthcare shines

In today’s session the Indian markets started on a pleasant note. However the benchmark indices struggled on the higher side. The stocks in consumer durable and healthcare were out-performers of the day, and both the indices ended higher by around 150 points. The Nifty closed up by 13 points at 7436 level; and the Sensex was up by 50 points at 24485 levels. Both the indices closed on a positive note, up around 0.2 percent each.

The advance-decline ratio was on the positive side in the closing session. On the NSE, 1734 shares closed in the green, while 924 shares ended the day in the red.

Top 5 Nifty Gainers: Cairn India closed the day as the top gainer on the NSE, up by 5.4%. It is followed by Tata Steel; Sun Pharma; Ambuja Cement; and Coal India, which were the others that closed the day on a positive note.

Top 5 Nifty Losers: GAIL was the top loser, down by 2.7%, followed by Hero Motocorp; L&T; Tata Motors; and M&M.

Most of the sectors saw a good amount of buying in the closing session. Consumer Durables and Healthcare were the top gainers for the day, up by 150 points each. It is followed by the Metals and Bankex indices, which were up by over 105 points and 63 points respectively. Also Mid-Caps and Small-Caps saw up moves around 99 points and 24 points respectively. However Capital Goods and Auto ended on a negative note.

On the Asian front, The Hang Seng ended the day up by 259 points. Followed by the Nikkei, which closed up by 152 points. The Taiwan and KOSPI too ended on a positive note.

Buzzers:- Cairn India

From last few sessions stock saw a heavy volatile trade and has recovered from the lower level of around Rs 110. In today's session scrip broke its major hurdle which was at Rs 115. Going ahead if stock sustains above this level, it may see Rs 125-130 in further trading session.

The Nifty Future is facing a major resistance of 7500 level. Above this level scenario may change towards the positive side.