Markets influenced by the Bull as Bears stay away
DSIJ Intelligence / 16 Mar 2016
Indian stock markets witnessed a good upwards move after mid-session on Wednesday. The Sensex recovered almost 300 points from the lower side and ended 131 points higher at 24682 while Nifty recovered 90 points and ended 38 points higher at 7498. Both the indices closed with a positive bias of 0.51 percent each.
Indian stock markets witnessed a good upwards move after mid-session on Wednesday. Banking stocks were seen rally steadily, especially stocks of ICICI Bank, Axis Bank and SBI. The Sensex recovered almost 300 points from the lower side and ended 131 points higher at 24682 while Nifty recovered 90 points and ended 38 points higher at 7498. Both the indices closed with a positive bias of 0.51 percent each.
The advance-decline ratio ended negative in the closing session. On the NSE, 1161 shares closed in green, while 1404 shares ended the day in red.
Top 5 Nifty Gainers: ICICI Bank saw the highest gain of 2.2%. Kotak Mahindra, ITC, Infosys and Lupin were the others trading higher.
Top 5 Nifty Losers: Hindalco closed down by 2.8%, followed by Asian Paints, Vedanta, Bharti Airtel and Bajaj Auto.
As many as 5 of the 13 sectors ended in the green. The Bank index was the top gainer, up by 153 points. IT and FMCG also ended in the green, up by 92 points and 60 points respectively. Healthcare was also closed in green up by 46 points. However consumer durables and auto sectors closed in red territory down by 418 points and 88 points respectively. While mid-caps and small-caps both were down by 41 points and 17 points.
The Asian markets closed on a mixed note. The Nikkei market was the top loser, down by 142 points. The Hang Seng was lower by 31 points. While Taiwan and Shanghai composite ended on a positive note, up by 87 points and 6 points respectively.
Buzzer: ICICI Bank witnessed massive upmove in the last trade and gained 2.2 percent to make high of Rs 227. If it opens above 230 mark, it may see more upward moves.
The Nifty index closed above the 7500 level, Going ahead 7610-7650 will be the immediate hurdle.
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