March 31: mid-session report
DSIJ Intelligence / 31 Mar 2016
The Indian market was holding 7750 levels in trade ahead of the F&O Expiry. After surging more than 1.5 per cent in trade in the previous trading session. The markets were trading in a range. CNX Pharma and Bank Nifty were the biggest gainer in trade today.
The Indian market was holding 7750 levels in trade ahead of the F&O Expiry. After surging more than 1.5 per cent in trade in the previous trading session. The markets were trading in a range. CNX Pharma and Bank Nifty were the biggest gainer in trade today.
Nifty was trading up by 25 points at 7760; and Sensex by 81 points at 25418. Both the leading indicators were trading with gains of 0.32 per cent each.
The advance-decline ratio showed a similar trend as majority of the counters traded in green. As many as 1123 scrips were trading in the positive territory; 1019 scrips were trading in the negative zone; however, 181 stocks remained unchanged on the NSE.
Top Nifty Gainers: Tata Power is leading the gainers' list as it was trading up by close to 3.5 per cent followed by Sun Pharma, Tech Mahindra, UltraTech Cement and Zee Entertainment which were up 1.62; 1.39; 1.38; and 1.33 per cent respectively.
Top Nifty Losers: Cairn India is leading the losers' list down by close to 3.51 per cent, followed by GAIL India, Tata Steel, ONGC and BOSCH which are down anywhere between 1.50 per cent to 1.20 per cent.
All the major sectoral indices were trading in green except for BSE Consumer Durables and BSE Oil & Gas. However, leader of the pack was clearly BSE Healthcare and BSE Bankex Index which were up by 0.80 and 0.51 per cent respectively. BSE Metals was a laggard in today’s trading session. However, BSE Small-Caps was trading up by 0.41 per cent, whereas BSE Mid-Caps Index was up by 0.18 per cent.
All the other major Asian markets were trading on a four month high. Chinese CSI300 closed the day up by 1.81 per cent. Hong Kong’s Hang Seng Index was down by 0.40 per cent. The trend remained bullish in other markets too as New Zealand’s NZX20 and Taiwan’s Taiex Index all closed with gains.
In commodities, Oil futures fell in Asian trade on Thursday, with U.S. crude hitting its lowest level in more than two weeks, amid renewed worries of global oversupply after inventories in the United States rose to a record high.
Buzzer: - Jindal Steel & Power was buzzing in trade as it was up by close to 4 per cent in trade with high volumes.
In the second half of the day market is likely to be volatile given expiry day. European markets are likely to open with slight gains.
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