Indices shine: Bankex jumps by 1.6 %

The Indian markets not only opened on a positive note, but have ended up with good volumes. The markets were volatile after mid-session but again closed near day's highs. The banking stocks like IndusInd bank, ICICI Bank, Canara Bank and Kotak Mahindra Bank were in the lead and ended the session by around 2-3 per cent upsurge. The Nifty ended with gain of 49 points at 8673; and Sensex was up by 118 points at 28123.

The advance-decline ratio ended on the positive side in the closing session. On the NSE, 35 shares closed in green, while 16 shares ended the day in red.

Top 5 Nifty Gainers: ULTRACEMCO was the top gainer gain with 4.8% gains, followed by Power Grid, NTPC, IndusInd Bank and Grasim.

Top 5 Nifty Losers: Coal India was the top loser with loss of 2.5%, followed Tata Power, Tata Steel, Tech M and Infy.

In today’s trading session majority of the sectors closed in green; and Bankex was the top gainer by 358 points. While Mid-Caps and Small-Caps closed on a positive note, up by 56 points and 123 points respectively, followed by Auto and Oil & Gas, which also closed in green territory. However Capital Goods, Consumer Durables and Metals closed on a negative note.

The Asian markets were quoting in mixed. Japan’s Nikkei was down by 259 points.  Hong Kong’s Hang-Seng was up by 223 points, while China’s Shanghai Composite closed on the green mark.

European markets were trading in negative scenario.

Derivative Analysis

Nifty future is still facing major hurdles around 8720/8750 levels.