Nifty Closes Above 5950 After 7 Sessions Of Consolidation
DSIJ Intelligence / 01 Jan 2013
The benchmark indices ended positive today. The Nifty closed at 5950, up by 46 points and the Sensex closed at 19580.81, up by 154 points. Gains were in the range of 0.77% and 0.79%.
There was inherent strength in the markets. The BSE midcap and smallcap indices too gained significantly, having risen by 1.19% and 0.99% respectively. The market breadth remained positive throughout the day. On the NSE, 1058 shares advanced and 378 shares declined.
On the sectoral front, all the indices ended the day with gains. METAL and REALTY were the top gainers and closed higher in between 2.20% and 2.91%.
Global indices have been closed today on account of New Year’s Day. The market thus saw no Asian and European opening bell related movement.
Top 5 Gainers on NSE: Reliance Infrastructure emerged as the top gainer on NSE. It closed higher by 4.53%. It was followed by Jindal Steel & Power, Hindalco Industries, Punjab National Bank and Tata Steel.
Top 5 Losers on NSE: Power Grid Corporation was the top loser on NSE today. Its stock price depreciated by 0.78% today. It was followed by NTPC, Infosys, Asian Paints and Hero Motocorp.
Buzzers: Bank Of Maharashtra touched an intraday high of Rs 62.27 per share and an intraday low of Rs 60.50 per share. The stock closed at Rs 62.20 per share, gaining 3.07% today. This marked the stock price’s new 52-week high.
Mahindra &Mahindra hit an intraday high and low of Rs 944 per share and Rs 934.90 per share respectively. The stock ended the day with gains of 1%. This gain was on the back of strong sales number announced by the company for the month of December 2012. The company’s domestic sales stood at 42307 units during December 2012 as against 39891 units during December 2011, a growth of 6%. The passenger vehicles segment registered a growth of 18%.
The Nifty saw consolidation for 7 consecutive trading sessions before today. With it closing above 5950, the overall scenario looks bullish.
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