Nifty Closes Flat, Ranbaxy Gains 5.9%
Suparna / 07 Oct 2013
The Indian markets recovered all the losses seen earlier in the day, with strength seen in IT and Health Care. Ranbaxy Labs closed the day with the highest gains on the index. Nifty ended the day down by 1 point at 5906 and Sensex was 20 points lower at 19895.
After mid-session, the Indian markets recovered all the losses seen earlier in the day. A good amount of buying was seen in IT and Health Care in the closing session. As a result, Nifty ended the day on a flat note, down by 1 point at the 5906 level. However, the Sensex ended 20 points lower at 19895. Both the indices ended negative in the range of -0.02%-0.10%.
The advance-decline ratio turned into the positives in the closing session. On the NSE, 1513 shares closed in green, while 1313 shares ended the day in red.
Top 5 Nifty Gainers: Ranbaxy Labs closed the day with the highest gains on the index, up by 5.9%. Tata Steel, BPCL, Hindalco and TCS were among the others that ended higher.
Top 5 Nifty Losers: Axis Bank was down by 1.8% today. ICICI Bank, Bharti Airtel, Larsen & Tubro and Maruti Suzuki also closed the day’s trades in negatives.
Among the sectoral indices, IT and Health Care were 97 points and 83 points higher respectively. Metals also saw gains of 79 points. Mid-Caps and Small-Caps ended in the green zone. On the other hand, Bankex and Capitals Goods saw some selling pressure, down by 135 points and 31 points respectively by day’s end.
In the Asian markets, the Nikkei market ended 170 points lower and Hang Seng was down by 164 points. Taiwan Weighted and KOSPI also closed in the red zone.
Buzzer: Hindalco moved up by 3.2%, making an intraday high of Rs 122.40, and closed above the technical level of Rs 120. If the stock will continues to trade with the current momentum, it may touch the Rs 127 in the next few trading sessions.
Nifty Futures recovered from the 5850 level and closed above 5900 today, indicating a major support at the lower level.
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