Markets End Flat Ahead Of Rail Budget

The Indian markets were volatile in the last hour of trade, ahead of the Rail budget which is due tomorrow. At the end of the day, Nifty closed with marginal gains of 4 points at 5854 and Sensex closed at 19,317.81, up by a point. 

The advance–decline ratio ended on a negative side at the end of the day. On the NSE, 1040 shares closed in red and 384 shares closed in green. 

Top 5 Gainers on NSE: Ranbaxy ended up by 4.90% as the top gainer on NSE, followed by Infosys, Power Grid Corporation, Tata Motors and HCL Technologies.

Top 5 losers on NSE: DLF ended the day as the top loser on NSE, down by 3.34%, followed by Jaiprakash Associates, Cipla, L&T and ONGC. 

Most of the sectors ended in red. Realty, Metal, PSU and Capital Goods were down in the range of 0.70%-2.35%. IT and Teck provided some relief to the markets and ended up in the range of 1.32%-1.95%.

The European markets advanced. DAX is trading with gains of 0.86%, followed by CAC 40 which is trading higher by 0.67% and FTSE 100 which is trading higher by 0.37%.

Meanwhile, the Asian markets closed mixed. Japan’s Nikkei 225 closed higher by 2.37% at 11,662, followed by Shanghai Composite, Hang Seng and Strait Times. Taiwan Weighted and KOSPI closed on a negative side, down in the range of 0.47%-0.49%. 

Buzzers: The stocks of Jet Airways continue its losing streak, as it closed down by 4% at 505.75. This is the airline’s lowest level since December, 2012 on reports that the Abu-Dhabi based Etihad airlines putting in a fresh condition to acquire a stake in the company. 

IT stocks continue to outperform in this sluggish market. Tata Consultancy Services register its fresh 52-week high along with a rise in volumes. The stock closed with gains of 1.28% at Rs 1473.

As we mentioned in our update, long traders hold a position with a stoploss of 5819 on spot Nifty. After registering a low of 5825 on spot, Nifty went on to hit a new high.