Markets Extend Gains, Nifty Above 5900
DSIJ Intelligence / 26 Dec 2012
The markets started on a weak note but gained momentum as the day passed by. All eyes now will be on tomorrow’s expiry.
The Indian market gained momentum in the afternoon trading session wherein the Nifty saw a healthy upward move. Thereafter, towards the end of the day, the markets consolidated in a range of 10-20 points. However, the Nifty managed to close above 5900, which is a crucial level. The Nifty closed up by 50 points at 5906 and the Sensex closed up by 166 points at 19421. With this, both the Nifty and the Sensex ended the day higher by 0.86%.
The overall market breadth remained positive throughout the day and managed to close on a strong note. On the NSE, 782 shares advanced and 640 declined.
Top 5 Gainers on NSE: The top gainers list was led by Bharti Airtel, managed to gain 2.85%, closing at Rs 317.40 per share followed by Jaiprakash Associates, ICICI Bank, L&T and Jindal Steel and Power.
Top 5 Losers on NSE: Hindustan Unilever continued to remain under pressure the entire day and closed as the top loser on NSE, down by 1.56%. It was followed by Hero MotoCorp, TCS, HCL Technologies and Infosys.
Among the sectoral indices, 12 out of 13 sectors closed in the green. Capital Goods emerged as the top gaining sector with an upward move of 1.84%. It was followed by BANKEX and REALTY, which closed up by 1.31% and 1.14% respectively. The IT sector remained under strain and closed in the negative zone, lower by 0.23%.
Most of the Asian markets closed higher today. The NIKKEI 225 closed up by 1.47% at 10.230.36 followed by STRAITS TIMES and SHANGHAI which closed up in the range of 0.38%-0.25%. The HANG SENG ended with marginal gains of 0.15% and the TAIWAN Weighted closed flat, with a negative bias at 7634.
Buzzers: The stock prices of RCF jumped up by 3.50% and managed to close at Rs 57.70 per share. The stock hit an intraday high of Rs 59 per share. The stock jumped on the news of the government selling stake. RCF is one of the leading producers of urea in India. The government of India holds a 92.5% stake in the company as per the share holding pattern on 30th September, 2012.
Cairn India hit a high of Rs 320.35 per share on NSE accompanied by a rise in volumes. The stock had underperformed in the market over the last 2-3 weeks. The stock closed up by 1.86% having given an upward stimulus by a rise in crude oil prices.
All in all, the Nifty closed above its hurdle of 5900 and now all eyes would be on tomorrow’s expiry session.
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