Nifty playing hide and seek with bulls around 7500: Ends on nominal gains
DSIJ Intelligence / 11 Mar 2016
The Indian markets witnessed a choppy trade after mid-market session. Sectors like Heathcare and FMCG provided some strength, on the other hand Metals and Bankex ended on a negative note. The Nifty ended with gains of 24 points at 7510; and Sensex was up by 94 points at 24717.
The Indian markets witnessed a choppy trade after mid-market session. Sectors like Heathcare and FMCG provided some strength, on the other hand Metals and Bankex ended on a negative note. The Nifty ended with gains of 24 points at 7510; and Sensex was up by 94 points at 24717.
The advance-decline ratio ended on the negative side during the closing session. On the NSE, 1097 shares closed in green; while 1468 shares ended the day in red.
Top 5 Nifty Gainers: Cairn India closed the day with the top gains on the NSE, up by 4.5%. Adani Port, Lupin, Zee Entertain and HUL were the others that ended higher.
Top 5 Nifty Losers: Idea Cellular was the top loser, down by 2.3%, followed by Kotak Mahindra, Tech Mahindra, Power Grid and Vedanta.
Most of the indices ended in the red. Metal was the top loser for the day, down by 52 points, followed by Bankex and Consumer Durables, which were down by 31 points and 8 points, respectively. However FMCG and Healthcare also saw good strength, and were up more than 80 points. Mid-Caps and Small-Caps were nominally in the negative.
Amongst the Asian markets, the Hang Seng ended up by 215 points. On the other hand, the Nikkei closed up by 86 points. The Shanghai Composite, Taiwan and KOSPI ended on a nominally positive note.
Buzzers: Cairn India. The stock surged by 6.7% and touched a high at Rs 148.50. If it crosses Rs 150, it may see a further uptrend.
The Nifty Future closed near the pivotal level of 7500. Monday's opening will decide the further course that the market will be taking.
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