Volatile day ends on a higher note

The Indian markets saw profit booking trades, especially after mid-session. However, the indices shrugged off this negative scenario and ended at the higher levels. The Nifty ended 17 points higher at 8592; and Sensex was up by 84 points at 27859.

The market breadth came in positive till closing hour, with 27 advances and 24 declines on the NSE.

Top 5 Nifty Gainers: Eicher Motors was the top gainer with 2.8% gains, followed by Idea, BPCL, Lupin and ITC.

Top 5 Nifty Losers: Bank of Baroda was top loose with loss of 9.2%, followed by Grasim, ZEEL, Infratel and Hindalco. 

In today’s trading session, majority of the sectors closed on the red mark; and Auto and Metals were the top losers, down by 95 points and 66 points respectively. Capital Goods and Consumer Durables also closed on a negative note, in the range of 20 to 30 points, followed by Bankex, which also closed in red territory. However, FMCG, Healthcare and IT closed in green territory.  

The Asian markets were quoting in the mix. Japan’s Nikkei was negative, closing down by 29 points.  Hong Kong’s Hang-Seng was up by 88 points, and China’s Shanghai Composite also closed on the green mark.

European markets were also trading in a mixed scenario.

Derivative Analysis

Nifty future has sustained above 8550 level at closing, indicating good strength on lower levels.