Volatile Day Ends Positive
Vinaya Patil / 11 Apr 2013
The Indian markets saw a sell-off in the mid session of trades but managed to recover all the losses and finally ended in the green. The Nifty closed higher at 5594 and Sensex was at 18,540.
The Indian markets saw a sell-off in the mid session of trades but managed to recover all the losses and finally ended in the green. The Nifty closed higher at 5594 and Sensex was at 18,540.
The Indian markets saw a sell-off in the mid session of trades but managed to recover all the losses and finally ended in the green. The Nifty closed higher by 35 points at 5594 and Sensex was up by 127 points at 18,540. Both the indices ended with gains of 0.64%-0.69%.
The advance-decline ratio was fairly balanced. On the NSE, 675 shares closed in the green and 611 shares closed in red.
Top 5 NSE Gainers: DLF ended as the top gainer on the NSE, up by 5%, followed by Tata Motors, IndusInd Bank, Infosys and ICICI Bank.
Top 5 NSE Losers: NMDC ended the day down by 4.37%, followed by ITC, NTPC, HDFC, and IDFC.
Most of the sectors ended in positives, with only Metals and Oil & Gas lower. Banks were up 1.5%, IT gained 2%, Realty gained 2% and Capital Goods and TECk were both up 1.5%. Metals were down by 0.7% and Oil & Gas dropped 0.4%.
The Asian markets closed in the positive zone. Japan’s Nikkei 255 was the top gainer and closed up by 261 points at 13,550. Hang Seng was up by 66 points. KOSPI, China’s Shanghai Composite all closed flat, positive.
Buzzers: DLF was the top gainer today, up by 5%. The stock made a high near its major hurdle at Rs 250 and closed at Rs 246.70. DLF has managed to close above the resistance level of Rs 242, and if it closes above these levels, we can see a good move in the next few trading sessions.
IT stocks saw many winners. Infosys gained 3% and closed at Rs 2916, TCS was up 0.5% at Rs 1536 and HCL Tech was up 3%, closing at Rs 789. The markets are expecting frontline tech majors Infosys and TCS to surprise with better-than-expected revenue numbers for the March quarter, while HCL Tech is expected to come up with good operating margins. Infosys will be announcing its fourth quarter numbers on Friday (April 12).
The Nifty has broken a stiff resistance around the levels of 5600. If it sustains below these levels, it will see a further up-move.
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