Indices end positive; Bank of Baroda up by 4%

The Indian markets saw some sideways moves on September 14, 2016. However the indices of Banks, Mid-caps and Small-caps showed good strength at closing, and benchmark closed near the day’s high. At the closing bell, the Nifty ended higher by 11 points at 8726 and the Sensex gained 18 points to close at 28372.

At closing, the market breadth was positive. On the NSE, 31 shares closed in the green and 20 shares ended the day in red.

In today’s trading session, apart from IT sector the entire sectoral indices closed on the green mark. Banks, Consumer Durables, Mid-caps and Small-caps were top gainers that closed up more than 150 points. While Capital Goods, Healthcare and Metals also closed on a nominally positive note. However IT index closed nominally negative by 69 points.   

The Asian markets also were quoting in negative. Japan’s Nikkei closed negative by 114 points.  Hong Kong’s Hang-Seng was down by 25 points, while Taiwan and KOSPI closed on the negative mark.

European markets were also trading in positive scenario.

Derivative Analysis

Nifty future closed at vital support of 8750; if it opens below 8800 level it may see more recovery.