Nifty holds 8500, Tata Steel Surges by 4.5 %

The benchmark indices consolidated in a small range in Wednesday’s session. After a massive buying the sectorial indices like Auto, Capital Goods, Consumer Durables saw some profit booking on the higher side. However IT and Metals were outperformers of the day, up more than 100 points each. The Nifty ended nominally negative by 1.5 points at 8519 and Sensex was up by 7 points at 27815.

The advance decline ratio ended on the negative side at the closing buzz. 17 stocks closed with green mark whereas, 34 stocks closed in red.

Top 5 Nifty Gainers: Tata steel was top gainer with 4.2% gains, followed by GAIL, ONGC, Coal India and Idea. 

Top 5 Nifty Losers: Power Grid was top loser with loss of 3.09% followed by BPCL, IndusInd Bank, Ultratech Cement and Lupin. 

On the sectoral front, 10 out of the 13 sectors ended in the red. Auto and Capital Goods sectors were top losers and were down by 135 points and 94 points respectively. Whereas Mid-Caps and Small-Caps sector were down around 100 points each. Healthcare and Bankex also showed some profit booking on closing buzz. However Metals and IT closed in positive territory up by 166 points and 106 points respectively.   

The Asian markets were quoting positive; Nikkei was up by 135 points. While Hong Kong’s Hang-Seng was up by 97 points. Taiwan and Shanghai also closed in positive territory.

In Europe, FTSE opened up by 16 points, DAX opened 31 points higher, and CAC opened 25 points higher.

Derivative Analysis

The Nifty July futures hold 8500 mark in closing, indicating good support at lower level of 8460/8440 levels.  

Top 5 Gainers On NSE

Top 5 Losers On NSE