Bulls heave a sigh of relief: Nifty Crosses 7500
DSIJ Intelligence / 29 Jan 2016
The Indian markets saw an unexpected rally today, with Auto; Healthcare; Consumer Durable; and Bankex leading the way. All the sectoral indices closed on a positive note. The Nifty ended higher by 138 points at 7563; and Sensex was up by 401 points at 24870. Both the indices ended higher more than 1.5 percent each.
The Indian markets saw an unexpected rally today, with Auto; Healthcare; Consumer Durable; and Bankex leading the way. All the sectoral indices closed on a positive note. The Nifty ended higher by 138 points at 7563; and Sensex was up by 401 points at 24870. Both the indices ended higher more than 1.5 percent each.
The market breadth remained positive till closing hour, with 1558 advances and 1034 declines on the NSE.
Top 5 Nifty Gainers: Yes Bank was the top gainer for today’s session, closing higher by 11.1%. Among the other gainers were Vedanta, Hero MotoCorp, Sun Pharma and Coal India.
Top 5 Nifty Losers: Bank Of Baroda ended lower by 3.65% today, followed by SBI, Tata Steel, Idea Cellular and Cairn India.
All the sectoral indices closed on a positive note. Healthcare and Consumer Durables gained a total of 390 points for the day; Auto was up by 318 points; IT was 265 points higher; and Bankex moved up by122 points. Mid-Caps and Small-Caps also saw positive trades, both higher around 150 points in the closing session.
In Asia, the Hang Seng was the top gainer and saw an appreciation of 487 points; and Nikkei ended higher by 476 points. KOSPI and Taiwan Weighted closed with a nominal positive bias.
Buzzers: Yes Bank the stock surged as Q3 rose 25 percent to Rs 675 crore. The scrip jumped by 11.21% and closed above the technical level of Rs 740. If it holds these gains, it may reach a level of upto Rs 760/780 in the next few trading sessions.
Nifty Futures saw a handsome up-move and broke the major hurdle of technical level of 7500, indicating more strength ahead.
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