Markets Take U-Turn, FMCG Shines

The Indian markets underwent a smart recovery in the last hour of trade today. At the end of the day, the Nifty closed at 5930, up by 26 points and Sensex closed at 19,489, up by 102 points. Both the Nifty and the Sensex closed up in the range of 0.44%-0.53%.

The market breadth closed on a negative zone. On the NSE, 680 shares have declined and 603 shares have advanced.

Top 5 NSE Gainers: Hindustan Unilever emerged as the top gainer on the NSE, closing up by 17.38%, followed by HCL Technologies, Mahindra and Mahindra, Lupin and Sesa Goa. 

Top 5 NSE Losers: IDFC is among the top loser on the NSE, trading lower by 2.49%, followed by Jaiprakash Associates, Punjab National Bank, IndusInd Bank and HDFC.  

Among the sectoral indices, 8 out of 13 sectoral indices ended in a positive zone. FMCG and Metals were the top gainers among the sectoral indices. Realty, Oil& Gas and Bankex were under a selling pressure. 

The European markets are trading flat. DAX is trading up by 0.45%. CAC40 and DAX is trading down in the range of 0.14%-0.31%. 

The Asian markets ended in green. KOSPI gained 1.18%, followed by Taiwan Weighted, Hang Seng and Straits Times. Japan’s Nikkei witnessed some profit booking and ended down by 0.17%. 

Buzzers: KPIT Cummins Infosystems has surged by 6.29% to Rs 103 in an otherwise volatile market after the company forecasted about 16-20% growth in its net profit for FY14.   

Aban Offshore surged more than 12% to Rs 310.50 in the last hour of trade. The stock opened at Rs 276 and made a high of Rs 325. It saw a good activity in the volumes as well.   

In our last write up, we had mentioned that Nifty has a strong support around the levels of 5865-5870 and it did recover smartly with the support. Nifty needs to sustain above the 5970-5980 levels for a fresh breakout.