Markets Recover Morning Loss; End On A Flat Note

The Indian markets saw a negative move in the mid session of trade but recovered the loss in the last one hour of trade. Nifty closed with gains of 2.5 points at 5834 and Sensex closed at 19,170, up by 10 points. Both the indices ended in green with gains between 0.04%-0.05%.

The advance–decline ratio ended on a negative side at the end of day. On the NSE, 630 shares closed in green and 748 shares closed in red. 

Top 5 NSE Gainers: Hero Motocorp ended up by 2.7% as the top gainer on the NSE, followed by Sun Pharma, Bajaj Auto, Kotak Mahindra and.

Top 5 NSE Losers: Jindal Steel ended the day as the top loser on the NSE, down by 3.4%, followed by L&T, IDFC, SBI and DLF. 

All the sectors ended on a negative note while Healthcare and IT ended in green by 0.07%. Banks ended on a negative note down by 0.35%, Consumer Durables down by 1.16%, Capital Goods and Realty down by 0.5%. Auto, FMCG, Power and Metals ended with minor losses.

The Asian markets closed on a negative note. Hang Seng, was the top loser among the Asian indices and closed at 21,800, down by 237 points. Nikkei was down by 38 points, KOSPI and China’s Shanghai Composite closed in negative too. 

Buzzers: HDFC Bank continued to maintain its pace of growth. It reported 30% YoY rise in its fourth quarter (January-March) net profit at about Rs 1,890 crore. Its stock made a high of Rs 700 and ended above the major hurdle at Rs 690.

In today’s session, Indiabulls Real Estate, National Fertilisers, Kirloskar Oil, Birla Corp, Amara Raja Batteries, Kesoram, Garware Poly, Bhansali Engineering, Mastek and Vesuvius India ended with hefty gains.

Nifty has closed on breakout level. If it manages to sustain above these levels, we can see a further upmove up to 5900.