Markets End On A Flat Note

The Indian markets saw a sell-off in the evening session. It made a new low but saw some profit booking and finally closed with some gains. The Nifty was up by 4 points to close the day at 5923 and Sensex closed at 19,565, up by 22 points. Both the indices ended in green by 0.07% and 0.11% respectively.

The advance–decline ratio ended on a negative side at the end of day. On the NSE, 682 shares closed in green, while 717 shares ended the day in red.

Top 5 NSE Gainers: Reliance closed the day with gains of 2.8% as the top gainer on the NSE, followed by DLF, Hindalco, ONGC and Sun Pharma.

Top 5 NSE Losers: Ambuja Cement ended the day as the top loser on the NSE, down by 1.5%, followed by HDFC, Infosys, ACC and HCL Tech.

Nine out of the 13 sectors ended the day on a positive note. Oil & Gas is the top gainer for the day, up by 149 points; Capital Goods and Mid-Cap were also up by 29 points and 24 points respectively. IT and Consumer Durables were the top losers, down by 46 points and 32 points respectively.

The Asian markets closed on a negative note. Japan’s Nikkei was the top loser, down by 518 points. Hang Seng ended in red, declining by 216 points, while China’s Shanghai Composite, Straits Times, and Taiwan indices ended on a negative note.

Buzzers: Bharti Airtel, today, approved the sale of around 5% stake in the company to Doha-based Qatar Foundation Endowment for around Rs 6,796 crore.

Oil & gas producers Reliance Industries and ONGC are up by around 2.5%. Reliance Industries has gained momentum (up 2.6%), just ahead of the annual general meeting scheduled tomorrow.

The Nifty has a strong support at 5885 level and a resistance at 5940 level. Once it breaks this resistance, a further move can be witnessed.