Indices End Losing Streak, Defensive Stocks Offer Support
Suparna / 26 Mar 2013
The Indian markets edged higher in the last hour today, led by buying in defensive sectors and positive cues from the Euro markets. The Nifty closed with marginal gains of 7 points at 5641 and Sensex was higher at 18,691.
The Indian markets edged higher in the last hour today, led by buying in defensive sectors and positive cues from the European markets. However, trading was lacklustre and there was no major trigger in the markets. At day’s end, the Nifty was in marginal gains of 7 points at 5641 and Sensex was up by 10 points at 18,691.
The advance-decline ratio remained on the negative side. On the NSE, 788 shares closed in the red and 623 shares were in gains.
Top 5 NSE Gainers: Bharti Airtel ended as the top gainer on the NSE, up by 2.88%, followed by Hindustan Unilever, HDFC, Ranbaxy Labs and Tata Motors.
Top 5 NSE Losers: Reliance Infrastructure ended the day lower by 6.10%. Siemens, GAIL, Reliance Industries and Hero MotoCorp also finished in losses.
Most of the sectors, though, ended positive. Consumer Durables and FMGC ended about 1% higher. Oil & Gas, Realty and Capital Goods ended as the top loser in the sectoral pack.
In the Asian markets, Straits Times, KOSPI and Hang Seng ended in gains. Shanghai Composite and Nikkei 225 were in the red.
The European markets are also trending up. The CAC 40 is trading with gains of 0.60%, followed by DAX gaining 0.22% and FTSE 100 trading higher by 0.10%.
Buzzers: Mahindra Satyam has moved 4% up to Rs 127.10. The stock rebounded from its intraday low of Rs 119.20 after the company’s board announced extending the validity of the scheme of amalgamation with Tech Mahindra by six months till September 30, 2013.
Pantaloon Retail has dropped more than 4% in today’s trades. The stock opened at Rs 147.30, registered a high of Rs 150.15 with heavy volumes, and closed at the Rs 140 levels.
A volatile trading session was seen ahead of the series expiry on Thursday, March 28. For the Nifty, the key level to watch out for is 5610.
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