Indices Bounce Back: WPI numbers weave magic
DSIJ Intelligence / 16 May 2016
The Indian markets witnessed a good up-move after mid-session on Monday. The positive WPI numbers brought in healthy buying, specifically in Auto, FMCG, Metals and IT sectors. The Sensex and Nifty closed above their technical levels of 25500 and 7800 respectively. The Sensex ended 163 points higher at 25653 and Nifty was up 45 points at 7860. Both the indices closed with a positive bias around 0.5 per cent.
The Indian markets witnessed a good up-move after mid-session on Monday. The positive WPI numbers brought in healthy buying, specifically in Auto, FMCG, Metals and IT sectors. The Sensex and Nifty closed above their technical levels of 25500 and 7800 respectively. The Sensex ended 163 points higher at 25653 and Nifty was up 45 points at 7860. Both the indices closed with a positive bias around 0.5 per cent.
The advance-decline ratio ended in the positive at the closing session. On the NSE, 1311 shares closed in green, while 1256 shares ended the day in red.
Top 5 Nifty Gainers: Bosch saw the highest gains of 3.3%. ITC, Yes Bank, Dr Reddy's Labs, and Bharti Infratel were the others trading higher.
Top 5 Nifty Losers: Bank Of Baroda closed down by 8.2%, followed by SBI, Cipla, Adani Ports and Idea Cellular.
10 of the 13 sectors ended in the green. The FMCG index was the top gainer, up by 121 points. Auto also pulled the index up by 102 points. Healthcare, IT and Metal also were up around 60-75 points each. Mid-caps and Small-caps closed nominally in the positive. Capital Goods, Consumer Durables and Oil & Gas closed in the negative territory.
The Asian markets closed on a positive note. The Hang Seng market was the top gainer, up by 164 points. The Nikkei was higher by 54 points, and Shanghai and Taiwan also ended on a positive note.
Buzzer: Bosch. The stock saw a swing move after it broke the technical level of 21000 and closed higher by 3.3% at Rs 213636. If it opens above this level, it may see more positive moves.
The Nifty index closed above the 7880 level, indicating a positive move ahead.
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