Choppy trades end positive

The Indian markets saw a highly volatile session, taking a dive and then recovering from the deep end. Metals stocks like Tata Steel, Hindalco, SAIL, Jindal Steel and VEDL were the key gainers to pull the index on the higher side. At closing bell, the Nifty ended nominally up by 1 point at 7716 and the Sensex gained 7 points to trade at 25337.

The advance-decline ratio was negative in the closing session. On the NSE, 1267 shares closed in green, while 1328 shares ended the day in red.

Top 5 Nifty Gainers: Hindalco closed the day with the top gains on the NSE, up by 4.9%. Idea Cellular, Tata Steel, Bharti Airtel and Yes Bank were the others that ended higher.

Top 5 Nifty Losers: Reliance was the top loser, down by 1.7%, followed by Bank Of Baroda, Lupin, PNB and GAIL.

Most of the sectoral indices closed in the green. Metals gained 128 points by day’s end, Auto was up by 98 points and IT was 68 points higher. Mid-Caps and Small-Caps were both higher in the range of 25 points. However Consumer Durables and Oil & gas were closed in red territory , both were down more than 100 points.  

In the Asian markets, Hang Seng closed down by 51 points. Nikkei and Taiwan also ended on a negative note. However the Shanghai index ended higher by 11 points.

Buzzer: SAIL, the stock ended up by 4.7 percent above the technical level of Rs 45. If it sustains above this level , it may see up move above Rs 50.  

Nifty Futures closed at the 7729 level. If it crosses 7830, it may see more of an up-move.