Indices Remain Strong, Consumer Durables Up 4%

The Indian markets saw choppy movement in the middle session, remained firm in the last hour of trades. Nifty closed with gains of 51 points at 5834 and Sensex closed up by 153 points at 19170. Both the indices ended with gains of 0.89%-0.81%.

The advance-decline ratio was on the positive side at day’s end. On the NSE, 834 shares closed in the green and 500 shares were in the red.

Top 5 NSE Gainers: Reliance Infra closed the day 4.85% higher. Coal India, L&T, HDFC Bank and IndusInd Bank were among the other gainers.

Top 5 NSE Losers: UltraTech Cement ended as the highest loser, down by 2.91%, followed by Infosys, HCL Tech, TCS and ONGC.

Among the sectoral indices, only IT ended in the red, down by 2.4%. Consumer Durables was 4% higher, Capital Goods and Realty were up by 3.2%, while Banks went up by 2.35%,. Auto, FMCG, Power, Healthcare and Metals ended with minor gains.

The Asian markets ended the day higher. Japan’s Nikkei was the top gainer, and closed 161 points higher at 13,560. Hang Seng rose 30 points, while KOSPI and Shanghai Composite closed flat, positive.

Buzzers: Reliance Communications was the top gainer for the day. The telecom operator surged 16% in late trades today to touch a new 52-week high of Rs 100.05 on news that the company is in talks with a PE consortium to sell Reliance Globalcom. After that, the stock saw a high of Rs 100.05 and ended above its major hurdle at Rs 97.

HDIL, Unitech and Engineers India were the other notable performers, climbing between 8%-12%.

The Nifty has given a fresh breakout for the week. If it manages to sustain above these levels, it can see a further move up to 5900.