A Flattish Closing To The Week

The Indian markets saw volatile trades till mid-session today, but remained in a range in the last couple of hours. The Nifty ended 2 points lower at 5847 and Sensex lost 50 points to trade at 19729. The global scenario too was not very different.

The advance-decline ratio remained positive. On the NSE, 1757 shares closed in green, while 1534 shares ended the day in red.

Top 5 Nifty Gainers: BHEL closed the day with the highest gains on the NSE, up by 5.7%. DLF, PNB, Reliance Infra and Axis Bank were among the counters that ended higher.

Top 5 Nifty Losers: HCL Tech was down by 2.69% by closing, followed by UltraTech Cement, ITC, Tata Steel and Infosys.

Among the sectoral indices, Capital Goods gained 183 points by day’s end, Auto was up by 90 points and Metals gained 33 points. Mid-Caps and Small-Caps were both higher in the range of 35 points. IT and Consumer Durables, on the other hand, showed some downtrend and ended lower by 107 points and 100 points respectively.

In the Asian markets, the Hang Seng closed down by 38 points and Shanghai Composite remained on a negative note. The Nikkei index, however, ended nominally higher by 17 points.

Buzzer: The stock of Punjab National Bank (PNB) has seen a good up-move over the past few days. The bank’s Chairman and Managing Director K R Kamath announced that PNB Housing Finance will receive Rs 1000 crore as capital from its promoters (including PNB) to reduce leverage level and support business growth. The stock made a high of Rs 521 today, and if it breaks this level, it may move up to Rs 535.

Nifty Futures traded in small range today but manage to close above the 5850 level. This will be a trend deciding level for next week’s opening.