Indices Close Higher, FMCG Outperforms

The Indian markets saw some big gains in today’s trades. The indices moved gradually upwards since the morning, and closed on a higher note. The FMCG sector made for a surprise, pulling the markets up by 2.6 %. The Nifty closed up by 66 points at 5836 today and Sensex closed 233 points higher at 19410. The indices gained 1.48% and 1.22% respectively.

The advance-decline ratio ended in positives. On the NSE, 1715 shares closed in the green, while 1593 shares ended in red.

Top Nifty Gainers: HCL Tech closed as the top gainer on the NSE, up by 4.17%. ITC, Reliance Infra, Tata Power and TCS were among the other counters ending higher.

Top Nifty Losers: BHEL continued to trade down and ended lower by 2.4%, followed by Tata Steel, Sesa Goa, Axis Bank and Bajaj Auto.

12 of the 13 sectors ended in the green. FMCG moved up by 177 points, IT was up by 166 points and Oil & Gas gained 73 points. Heathcare and Bankex were also up by 49 points and 37 points respectively. Mid-Caps and Small-Caps wrapped up the day on a positive note.

The Asian markets saw mixed trades. Hang Seng was the top gainer, up by 321 points, while the Shanghai Composite and Straits Times also ended positive. The Nikkei market, though, closed down by 36 points.

Buzzers: Sun Pharmaceutical made a 52-week high today at Rs 1116. The company, which has a cash balance of USD 1.3 billion as of March 2013 (including its subsidiary Taro Pharmaceutical Industries), was in talks with banks to raise funds for the acquisition of Swedish firm Meda Pharmaceuticals for upto USD 6 billion in June.

The largest cigarette manufacture ITC has announced a hike on the Gold Flake brand. The stock lead today’s rally, moving up by 3.1%. The stock made a new high of Rs 339 in the closing session.

The Nifty has managed to hold the 5800 level today. This level will be an important support for tomorrow’s opening session.