Nifty Makes The 6K Mark

The benchmark Indian indices ended the day strongly higher. The Nifty closed above the prized 6000 mark for the first time since Jan 6, 2011, at 6009.50. The Sensex closed 51 points higher at 19,764.78. The indices closed up in the range of 0.26%-0.27%.

The market breadth was on the positive side for the day. On the NSE, 864 shares advanced and 581 shares declined.

Top 5 NSE Gainers: Dr Reddy’s Labs emerged as the top gainer, up by 2.43%. Cairn India, Bharti Airtel, ONGC and DLF followed.

Top 5 NSE Losers: Tata Power was the highest loser at the end of day’s trades, down by 1.65%. Other scrips in losses included Lupin, Punjab National Bank, Sun Pharma and Hero MotoCorp.

6 of out the 13 sectoral indices ended positive. TECk and IT were in the lead, up in the range of 1.29%-1.45%. CG and FMGC closed in the red.

The European markets are witnessing some profit booking, and all of them are trading negative. The CAC 40 is trading down by 0.52%, followed by DAX and FTSE 100.

Most of the Asian markets ended the day higher. Taiwan Weighted closed up by 0.74%, Straits Times was up 0.72% and Hang Seng was 0.37% higher. KOSPI ended down by 0.58%.

Buzzers: Jai Corp closed 14.88% higher at Rs 81.80. The stock rallied on heavy volumes seen after the Maharashtra cabinet cleared the new industrial policy that allows special economic zone (SEZ) developers to utilise 40% of the land in their possession as integrated industrial township projects.

Balaji Telefilms was higher by 9.01% at Rs 58.70. The counter witnessed a sharp jump in volumes. Its 5-days’ average volumes stand at 222915, whereas today’s trading volumes were at 1400785, marking a jump of 528%.

The Nifty overcame a psychological hurdle to close above the 6000 mark. The bulls have tightened their grip and the markets are heading towards a new high. There might be a minor correction till the levels of 5935-5875.