Markets oscillates, but closes at 4-month high

Indian markets started a day with muted opening next day after the Budget. The markets were in a consolidation phase and Nifty failed to hold the level of 8750.

BSE Sensex and Nifty indices rose 0.3 per cent and 0.2 per cent, respectively. At the closing bell, Nifty increased 17 points to close at 8734 and the BSE Sensex rose 84 points to close at 28226. On the NSE, 25 shares closed in the green, while 26 shares ended the day in the red.

All sectoral indices closed in the green, except Auto and Capital Goods. Consumer Durables rose 277 points. Healthcare rose 264 points. IT index increased 168 points. However, Auto and Capital Goods dropped 241 points and 119 points, respectively. Mid-cap index increased 120 points and Small-cap rose 125 points.

Shanghai remain closed on Thursday on the account of Lunar holidays. Hang Seng dropped 0.57 per cent. KOSPI and Nikkei declined 0.46 per cent and 1.22 per cent, respectively. Taiwan’s TAIEX decreased 0.2 per cent.

European markets were also trading in mixed sentiment.

Derivative Analysis

Nifty Future closed on a weak note at 8731. Going ahead, 8802/8703 will be the immediate support levels.