Indices bounce back: Nifty ends above 8000 mark
DSIJ Intelligence / 22 Nov 2016
The Indian markets witnessed a good recovery after a cold shower from last few sessions. The short covering and positive cues globally have brought healthy buying, specifically in Auto and Metal sectors. The Sensex ended 195 points higher at 25960 and Nifty was up 73 points at 8002. Both the indices closed with a positive bias around 0.76-0.92 per cent.
The Indian markets witnessed a good recovery after a cold shower from last few sessions. The short covering and positive cues globally have brought healthy buying, specifically in Auto and Metal sectors. The Sensex ended 195 points higher at 25960 and Nifty was up 73 points at 8002. Both the indices closed with a positive bias around 0.76-0.92 per cent.
The advance-decline ratio ended positive in the closing session. On the NSE, 43 shares closed in green, while 8 shares ended the day in red.
The Auto and Metals index witnessed massive recovery, closed up by 362 points and 266 points, respectivley. Banks, Healthcare, Mid-caps and Small-Caps also were up more than 100 points each. While IT and Oil & Gas also closed in positive territory. However Capital Goods closed in negative territory, down by 93 points.
In the Asian markets, the Nikkei closed up by 56 points. The Hang Seng index ended up by 320 points. While the Taiwan and Shanghai Composite also ended on a positive note.
European markets were also trading in positive scenario.
Derivative Analysis
Nifty future closed above 8000 mark. Going ahead 7980/7940 will be the vital supports.
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