Indices Bounce Back ahead of BREXIT outcome
DSIJ Intelligence / 23 Jun 2016
The Indian markets witnessed a good up-move after mid-session on Thursday. The good European cues brought healthy buying specifically in Banking, Auto Capital Goods and IT sectors. The Sensex and Nifty touched their technical levels of 27000 and 8250 respectively and closed in the green. The Sensex ended 236 points higher at 27002; and Nifty was up 66 points at 8270. Both the indices closed with a positive bias around 0.8 per cent each.
The Indian markets witnessed a good up-move after mid-session on Thursday. The good European cues brought healthy buying specifically in Banking, Auto Capital Goods and IT sectors. The Sensex and Nifty touched their technical levels of 27000 and 8250 respectively and closed in the green. The Sensex ended 236 points higher at 27002; and Nifty was up 66 points at 8270. Both the indices closed with a positive bias around 0.8 per cent each.
The advance-decline ratio ended negative in the closing session. On the NSE, 1100 shares closed in green, while 1493 shares ended the day in red.
Top 5 Nifty Gainers: Tata Motors saw the highest gains of 3.2 percent. Yes Bank, Ambuja Cement, SBI and Dr. Reddy's Labs were the others trading higher.
Top 5 Nifty Losers: Bharti Airtel closed down by 5.01%, followed by NTPC, Cipla, TCS and Tata Power.
13 of the 13 sectors ended in the green. The Bankex index was the top gainer, up by 324 points. Auto and Healthcare also pulled the index up by 212 points and 108 points respectively. Capital Goods and Consumer Durables were up around 60 points each. Mid-Caps and Small-Caps both closed in positive territory.
The Asian markets closed on a mixed note. The Nikkei market was the top gainer, up by 172 points. The Hang Seng was higher by 73 points. However Shanghai and Taiwan ended on a negative note.
Buzzer: Yes Bank. The stock surged by 2.9 per cent to close above the technical level of Rs 1100. If it continues with current scenario, it may touch 1150/1200 levels soon.
For tomorrow’s session, if the Nifty index sustains above 8350 mark doors will be open for 8500 level. If not 8000 mark will be a vital support.
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