Bulls charge; Nifty crosses hurdle of 8000 mark
DSIJ Intelligence / 27 Dec 2016
The Indian markets saw an unexpected rally on December 27, 2016, with Auto, Banks and Metals leading the day. All the sectoral indices closed in the green territory. The Nifty ended higher by 125 points at 8032; and Sensex was up by 407 points at 26213. Both the indices ended higher by around 1.5 per cent each.
The Indian markets saw an unexpected rally on December 27, 2016, with Auto, Banks and Metals leading the day. All the sectoral indices closed in the green territory. The Nifty ended higher by 125 points at 8032; and Sensex was up by 407 points at 26213. Both the indices ended higher by around 1.5 per cent each.
The market breadth remained positive till closing hour, with 47 advances and 4 declines on the NSE.
The sectoral indices closed on a positive note. Auto gained a total of 302 points for the day, while Bankex, Healthcare and Metals were up more than 200 points each. Mid-Caps and Small-Caps also saw positive trades, both higher by 175 points in the closing session.
In the Asian markets, the Nikkei closed up by 6 points. While the Hang Seng index ended down by 61 points. The KOSPI and Shanghai also ended on a negative note.
European markets were trading in positive scenario.
Derivative Analysis
Nifty future took vital support at the lower level of 7880/7920 and crossed the technical level of 8000. If it sustains at this level, it may see more recovery.
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