Indices Bounce Back, Close With Minor Losses

The Indian markets saw a whipsaw movement in the post afternoon session. The Nifty touched an intraday low of 5853.90 and the went on to touch a high of 5899.95, closing down by 9 points at 5887. The Sensex closed down by 61 points at 19,435. Both the indices ended lower in the range of 0.16%-0.32%.

The advance-decline ratio ended on the negative side by the end of the day. On the NSE, 842 shares closed in the red and 593 ended positive.

Top 5 NSE Gainers: Tata Motors ended with gains of 2.34%, followed by IDFC, Bharti Airtel, Tata Power and GAIL.

Top 5 NSE Losers: Dr Reddy’s Labs ended as the top loser for the day, down by 3.11%. Cairn India, DLF, Bharat Petroleum and Bajaj Auto also figured in the losers list.

Most of the sectors closed in the red. Oil & Gas and IT ended as the highest losers, down in the range of 0.81%-1.00%. Auto and Bankex remained in gains.

On the global front, the Hang Seng ended marginally up by 6 points. Japan’s Nikkei 225 was down by 133 points and Straits Times lost 12 points.

The European markets are in the red. DAX is trading down by 0.25%, CAC 40 is trading lower by 0.06% and FTSE 100 is down 13 points at 6314.

Buzzers: Great Eastern Shipping has surged by around 6% on the back of heavy volumes. The stock’s volumes were about 22,000 in the last trading session, whereas it saw volumes of more than 1.5 lakh today. It touched an intraday high of Rs 261 and closed at Rs 256.

Bharti Infratel dipped 2.41% to Rs 188. The stock touched a new 52-week low on the back of heavy volumes in today’s trade. It has underperformed the market by falling more than 10% in the past two weeks as against a 2% fall in the benchmark indices.

After a gap-down opening, the Nifty has once again managed to hold on to the 5880 level on a closing basis. It seems that the bulls are giving the bears a tough time.