Markets Have A Positive Day

The Indian markets continued trading higher for the entire trading day, and finally closed at the highest point of the day. Both the markets closed higher by more than 1.65%. All the sectors closed in the green zone, with Realty and Capital Goods higher by more than 3%. Other indices like Oil & Gas, Consumer Durables, Healthcare, etc. closed the session marginally in the green zone.

On the other hand, the Asian markets closed in a mixed bag, with Shanghai closing marginally in the green zone and Hang Seng and Nikkei closed in the red.

The European markets are currently trading in the positive territory, with the 3 major indices, CAC, DAX and FTSE, trading up in the range of 0.20%-0.42%.

Dow Jones Futures is currently trading 26 points or 0.19% up at 13134, indicating a positive sentiment in the US markets.

Back home, Capital Goods heavyweight L&T is up 4.46% to Rs 1348. Other stocks like DLF and Tata Steel closed the session 4% higher. Stocks like TCS, ICICI Bank, BHEL, SBI, GAIL India, etc. closed the session higher in the range of 2%-4%. Other stocks like Wipro, Maruti Suzuki, Jindal Steel, etc. closed marginally in the green zone. The losers list was very small, with only 5 index stocks closing the trade in the negative territory. Hindalco was the leading index loser, down 1.01% to Rs 137.25. Other stocks like ONGC, ITC, Sun Pharma and Hero MotoCorp closed lower, marginally in the red zone.

Century Textiles & Industries closed 10.82% higher at Rs 346.75, on the back of speculations that the company is restructuring its cement business. Essar Oil is up 4.66% to Rs 57.25 after the news that it has commissioned 2 units at the Vadinar Refinery.

The market breadth, which indicates the overall health of the market, was positive. Out of the 3350 stocks traded on the BSE, 2045 advanced, 1176 declined and 129 remained unchanged.

In conclusion, we expect the markets to remain volatile as investors are jittery about investing in markets that fail to provide any concrete direction.