Markets Take A Leap, Axis Bank Soars

The Indian markets witnessed a good amount of buying in the last few trading sessions. All the sectors, banking in particular, pulled the markets up. The Nifty broke all its intraday hurdles and closed up 64 points at 6038. The Sensex closed at 20,120, up by 179 points. Both the indices ended in green by 1.08% and 0.90% respectively.

The advance–decline ratio was balanced on both sides. On the NSE, 1626 shares closed in green, while 1672 shares ended the day in red.

Top Nifty Gainers: Reliance Infra closed the day up by 4.6%, followed by ONGC, Asian Paints, Axis Bank and BHEL.

Top Nifty Losers: M&M closed the day down by 2.06%, followed by HCL Tech, TCS, Sesa Goa and UltraTech Cement.

All the sectors ended in a green zone this evening. Bankex was the top gainer, up by 255 points, followed by Capital Goods and Oil & Gas, which were up by 139 points and 117 points respectively. Consumer Durables was also up by 108 points, while Mid-Caps and Small-Caps ended with good numbers, up by 44 points and 13 points respectively.
The Asian markets closed on a mixed note. The Nikkei market was the top gainer, up by 193 points. Hang Seng is down by 26 points, followed by Taiwan Weighted, China’s Shanghai Composite and KOSPI which ended on a negative note.

Buzzers: Axis Bank announced a 22% rise in its first quarter (April-June) net profit to Rs 1409 crore, and other income to Rs 1,781 crore adding to the profit margin. The stock suddenly moved up by 3.7% and made a new high at Rs 1247.

Reliance Infrastructure announced that it has tied up with the US-based Innovari Inc for the pilot implementation of the Automatic Demand Response (ADR) programmer in its licensed distribution area. The stock surged 4.5% and made a new high at Rs 391.

The Nifty broke its major resistance and managed to close above the 6050 level. It may see a bullish trade above this level.