Markets Steer Back Into Positives, Nifty Sees New High
Suparna / 04 Jan 2013
After seeing a low of 5981 in the afternoon session, the Nifty turned into the positives to notch up a new high of 6020.75 and closed at 6016.15. The Sensex closed at 19769.68.
The benchmark indices took a big u-turn in the post-afternoon session today. The Nifty registered a low of 5981 in the afternoon session and then turned into the positives to notch up a new high of 6020.75. Finally, the Nifty closed up by 6.65 points at 6016.15 and Sensex was up by 5 points at 19769.68. Both indices closed up in the range of 0.02%-0.11%.
The market breadth, though, closed in the negative zone. On the NSE, 712 shares advanced and 739 shares declined.
Top 5 NSE Gainers: Cairn India emerged as the top gainer on the NSE, closing up by 2.95%, followed by GAIL, Bharat Petroleum, ONGC and BHEL.
Top 5 NSE Losers: Among the top losers on the NSE were Tata Steel (down 1.99%), Jindal Steel and Power, Hindalco Industries, Sesa Goa and HDFC.
9 out of 13 sectoral indices ended in the positive zone. PSU, Oil & Gas and IT were the highest gainers and closed up between 0.90%-1%. Metals recovered a bit in the last hour of trade, ending lower by 0.92%.
The Asian markets saw some recovery in the last hour of trade. Nikkei 225 remained the top gainer and Shanghai Composite and Straits Times also ended in the green. Hang Seng closed down by 0.29%.
The European markets are trading in the negative zone. CAC 40 has lost 0.46% followed by DAX and FTSE 100, which were lower in the range of 0.08%-0.26%.
Buzzers: IFCI touched an intraday high of Rs 38.45 and a low of Rs 33.85. It surged up by more than 11% and closed at Rs 38.15. The stock zoomed on reports that the government has asked the company’s entire board to resign. The government, now the promoter, is reconstituting the board as part of a takeover process after becoming the largest shareholder with a 55.57% stake.
Hi-Tech Gears surged 15.99% closed at Rs 112.45. The stock’s 5-days’ average volumes stood at 7691, whereas today stock saw volumes of 483045, a spike of more than 6180%.
The Nifty has closed above its crucial resistance of 6015. The index may touch the levels of 6050 in coming trading sessions.
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