Nifty Struggles To Break 5560 Level

The NSE 50 and BSE 30 shares witnessed some amount of strength after mid-session today. Metals, Oil & Gas and Banking have done well. The Nifty ended up by 46 points at 5565 and Sensex closed 124 points higher at 18789. The indices ended higher by 0.84% and 0.67% respectively.

The advance-decline ratio ended on a positive note. On the NSE, 1851 shares closed in green and 1445 shares ended in red.

Top 5 Nifty Gainers: Ranbaxy Labs closed the day as the highest gainer, up by 27.6%. Hindalco, DLF, Tata Steel and Cipla were among the others that closed higher.

Top 5 Nifty Losers: Lupin closed lower by 3.2% today, followed by Sun Pharma, SBI, Dr Reddy’s Labs and Reliance.

11 out of the 13 sectors ended in the green. Metals was the top gainer, up by 174 points. Auto and Bankex ended the day higher by 139 points and 65 points respectively. Mid-Caps and Small-Caps also gained 71 points and 68 points respectively.

The Asian markets closed on a mixed note. The Hang Seng ended higher by 67 points and Straits Times and KOSPI were also in positives. Nikkei was the strongest loser, closing down by 219 points.

Buzzers: Hindalco’s stock has surged by 6% today and it made a high of Rs 91.70. The company is due to announce its Q1 results next week and the market is expecting it to come up with good numbers.

The pharma stocks shone today, and Cipla gave a good upward move. The stock moved up by 4.8% to Rs 410.

The Nifty Futures has not only crossed its first hurdle of 5580 but also managed to close above this level, indicating some positive sentiment for the next trading session.