Metals shine to keep markets in the green

Indian capital markets opened on positive note, but the day’s gains were erased at the close of Wednesday’s session. Nifty rose above the 8450 level but could not sustain it on intra-day basis. At closing bell, BSE Sensex and Nifty indices closed about 0.08 per cent and 0.23 per cent on the upside. Nifty rose 19 points to close at 8417 and BSE Sensex increased 21 points to close at 27257. On the NSE, 26 shares closed in the green, while 25 shares ended the day in the red.

All sectoral indices closed in the green, except oil and gas. The Metals index shined and rose 253 points. Bankex increased 116 points, while Consumer Durables and Capital Goods indices increased by more than 85 points each. The FMCG and Healthcare indices rose 30 points each, while Auto index increased just 9 points. However, oil & gas dropped 26 points.

The Asian markets closed on a mixed note. While Shanghai rose 0.14 per cent, Hang Seng 1.13 per cent and Nikkei 0.43 per cent, KOSPI and Taiwan declined 0.06 and 0.13 per cent, respectively.

The European markets showed a mixed trend.

Derivative Analysis

Nifty future closed on a positive note and closed at 8430. Going forward, 8488/8384 will be the immediate support levels.