Bulls Charge, Indices end on higher note
DSIJ Intelligence / 18 Apr 2016
The Indian market has been continuing with its upward momentum on Monday also. The benchmark indices opened with the positive sentiment of Infy Q4 results and the stock has shown a superb move. While the Mid-caps and Small-caps indices are seemingly providing support to indices. The Nifty ended higher by 64 points at 7914 and Sensex was up by 189 points at 25816. Both the indices ended higher by around 3.80% each.
The Indian market has been continuing with its upward momentum on Monday also. The benchmark indices opened with the positive sentiment of Infy Q4 results and the stock has shown a superb move. While the Mid-caps and Small-caps indices are seemingly providing support to indices. The Nifty ended higher by 64 points at 7914 and Sensex was up by 189 points at 25816. Both the indices ended higher by around 3.80% each.
The market breadth remained positive till closing hour, with 1438 advances and 1175 declines on the NSE.
Top 5 Nifty Gainers: INFY was the top gainer for today’s session, closing higher by 5.6%. Among the other gainers were Idea Cellular, BPCL, Ultratech Cement and Bharti Airtel.
Top 5 Nifty Losers: Hero MotoCorp ended lower by 2.9% today, followed by Bank of Baroda, GAIL, ONGC and SBI.
IT sector gained a total of 349 points for the day, Consumer Durables was up by 201 points, Capital Goods and FMCG were 120 points and 83 points higher, respectively. Mid-Caps and Small-Caps also saw positive trades, both higher more than 100 points in the closing session. However Auto and Bankex closed on a negative note by 50 points and 96 points, respectively.In Asia, the Nikkei was the top loser and saw profit booking of 572 points and Hang Seng ended on a lower note by 154 points. KOSPI and Taiwan Weighted closed with a nominal negative bias.
Buzzers: INFY surged by 5.6 percent after announcement of superb numbers in Q4. The stock closed above the technical level of Rs 1200. If it holds these gains, it may reach a level of upto Rs 1300/1350 in the next few trading sessions.
Nifty Futures saw a handsome up-move and closed above 7900, indicating more strength to touch the technical level of 8000 mark.
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