Day Ends In Nominal Gains, Consumer Durables Up 1.9%

After seeing selling pressure at opening, the Indian markets recovered all their losses in early noon trades and finally closed with nominal gains. The Nifty was up 17 points at 5983 and Sensex closed 30 points higher at 19704. Both the indices ended with gains of 0.28%-0.15%.

The advance-decline ratio ended on the positive side at the close of day. On the NSE, 712 shares closed in green and 663 shares were in the red.

Top 5 Nifty Gainers: Tata Steel ended up by 4.9% as the top gainer for the day. Tata Power, Lupin, ICICI Bank and L&T were among the other stocks that ended higher.

Top 5 Nifty Losers: Sun Pharma was down by 3.6%, followed by Hindalco, BHEL, TCS and Cipla.

Recovering from the start of the day when the majority of the sectors were in the red, 4 out of the 13 sectors remained in the negatives at closing. Consumer Durables was the leader for today’s session, up by 1.8%. Capital Goods and Metals were up 1.59%, and Banks were gained by 0.95%. Mid-Caps and Small Caps also ended on a positive note.

The Japanese Nikkei closed in the green zone, up by 128 points, while KOSPI and Shanghai Composite closed with nominal gains. Hang Seng ended down by 51 points.

Buzzers: Uttam Galva Steel was hit by a 23% decline in sales and reported a 29.52% fall in its standalone net profit, which came in at Rs 28.19 crore for the fourth quarter. After the morning session, the stock made a new low of Rs 69 and managed to close around Rs 72. From here, the stock has a hurdle of Rs 75 and if it closes above this level, it could see a further up-move.

eClerx has reported a 58% increase in its consolidated net profit for Q4, which stood at Rs 48.16 crore. The company’s consolidated net sales rose by 37% to Rs 174.33 crore in January-March quarter of 2012-13 fiscal from Rs 127.56 crore in the same quarter of 2011-12 fiscal. After the declaration, the stock went up by 4.8%, made a high at Rs 665 and managed to close around Rs 648.