Markets Rebound To End Higher

The Indian market saw a whipsaw movement in the last hour of trade. After registering a low of 6021, the Nifty went on to close with modest gains of 5 points at 6054, and the Sensex closed up by 66 points at 20,048.10. Both indices ended down in the range of 0.10%-0.33%.

The advance-decline ratio ended on the negative side at the end of the day. On the NSE, 1059 shares have declined and 389 shares have advanced.

Top 5 NSE Gainers: Bharti Airtel maintained its position as the top gainer, up by 4.46%. Tata Power, ITC, Hero MotoCorp and ICICI Bank were the others in the gainers list.

Top 5 NSE Losers: Hindustan Unilever was the top loser on the NSE, down by 4.34%, followed by HCL Technologies, Jaiprakash Associates, IDFC and Bharat Petroleum.

Only 3 out of the 13 sectors ended positive by day's end. TECk, BANKEX and CG saw gains of 0.16%-0.68%. Selling was witnessed in Realty, CD and Auto, which ended down betwee 0.71%-1.90%.

In the Asian markets, Shanghai Composite and Straits Times closed higher with gains of 0.25%-0.35%. Nikkei 225, Kospi and Hang Seng were in the red.

The European markets are trading on a mixed note. DAX is currently trading up by 0.21%, followed by FTSE 100 higher by 0.17% and CAC 40 is down by 0.10%.

Buzzers: HDIL has drifted down by more than 14% at Rs 96.25 on the back of heavy volumes on the NSE. The promoter of the Mumbai-based real estate developer has sold a part of its holding via open market transaction in today’s trade.

Syndicate Bank slipped down by more than 5% at Rs 132.25 on the back of heavy volumes. Traders and investors booked profits after the bank announced its Q3FY13 results.

The market rebounded from the lower levels to end in the positive zone. The bulls held the 6050 level, which is a positive signal. Going ahead, resistance for the index stands at 6090.