Swing Trades End Positive
Suparna / 30 Aug 2013
The Indian markets saw a highly volatile session today, taking a dive and then recovering from the deep end, with most of the sectoral indices closing in the green. The Nifty ended 62 points higher at 5471 and the Sensex gained 218 points to trade at 18619.
The advance-decline ratio was balanced in the closing session. On the NSE, 1639 shares closed in green, while 1652 shares ended the day in red.
Top 5 Nifty Gainers: Bajaj Auto closed the day with the top gains on the NSE, up by 5.5%. Cipla, TCS, Asian Paints and Ambuja Cements were the others that ended higher.
Top 5 Nifty Losers: Jindal Steel was the top loser, down by 8.8%, followed by Ranbaxy Labs, Tata Motors, IDFC and Axis Bank.
Most of the sectoral indices closed in the green, barring two of them. Bankex gained 161 points by day’s end, Healthcare was up by 140 points and IT was 122 points higher. Consumer Durables was up by 104 points and FMGC moved up 95 points. Mid-Caps and Small-Caps were both higher in the range of 10 points. Metals remained lower, closing over 150 points down.
In the Asian markets, Hang Seng closed up by 26 points. Shanghai Composite and KOSPI also ended on a positive note. The Nikkei index ended lower by 70 points.
Buzzer: Bajaj Auto surged by over 5.5% today and made an intraday high of Rs 1850. The scrip crossed its technical level of Rs 1830 and closed around its major hurdle. Going ahead, if the stock breaks the Rs 1850 level, it may see more of an up-move in the next trading session.
The Rupee September contract appreciated by 29 paise and was trading around the 66.75 level.
Nifty Futures closed above the 5450 level. If it crosses 5500, it may see more of an up-move.
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