Indices end on day’s high; SBI surges
DSIJ Intelligence / 27 May 2016
In continuation of the scenario seen over the last few days, the Indian markets closed trades on a positive note. At the closing session, the indices saw an excellent up-move; as the stock of SBI moved northward, up by 6.9 per cent to touch Rs 200 mark. The Nifty ended higher by 87 points at 8156 and Sensex was up by 286 points at 26653. Both indices ended higher in the range of 1.08-1.10 per cent each.
In continuation of the scenario seen over the last few days, the Indian markets closed trades on a positive note. At the closing session, the indices saw an excellent up-move; as the stock of SBI moved northward, up by 6.9 per cent to touch Rs 200 mark. The Nifty ended higher by 87 points at 8156 and Sensex was up by 286 points at 26653. Both indices ended higher in the range of 1.08-1.10 per cent each.
The market breadth is positive today, with 1401 advances and 1173 declines on the NSE.Top 5 Nifty Gainers: BPCL was the top gainer for today’s session, up by 9.19%, followed by SBI, Sun Pharma, Adani Ports and Reliance.
Top 5 Nifty Losers: Tata Power ended lower by 1.4%. Among the other stocks closing lower were ONGC, Tech Mahindra, Axis Bank and ITC.
12 out of the 13 sectoral indices ended the day in positives. Healthcare was the top gainer and surged by 365 points. Oil & Gas was up by 244 points, Bankex gained 226 points and Auto gained 173 points. Mid-Caps and Small-Caps were both higher by 150 points and 62 points respectively.
In Asia, the Hang Seng was a nominal gainer and saw an appreciation of 179 points. KOSPI and Taiwan Weighted too ended with a positive bias. The Nikkei index maintained its mood and ended higher by 62 points.
Buzzer:The stock of SBIN surged after Q4 numbers came in. The scrip made top at Rs 202, and ended around 195. It has a strong resistance at its 200-day EMA level which is at Rs 208. If it crosses and sustains above this level, it may see more up moves.
Nifty Futures has given a bullish crossover on an intraday basis at the 8150 level and closed near 8175 level. This indicates positive moves ahead.
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