Buoyant Day Ends On A High

The Indian markets managed to hold their gains till the closing session on the first day of November. The indices closed near their lifetime highs, indicating good strength. Mid-Caps and Small-Caps also saw up-moves in the closing session. The Nifty ended 8 points higher at 6307 and Sensex was up by 32 points at 21196. Both the indices ended positive in the range of 0.13%-0.15%.

The advance-decline ratio on the NSE remained positive, with 1754 shares closing in the green and 1429 shares in the red.

Top 5 Nifty Gainers: IDFC closed with the highest gains on the index, up by 6.1%. PNB, SBI, Bank of Baroda and M&M were among the other stocks that ended the day higher.

Top 5 Nifty Losers: Power Grid Corporation closed lower by 3.3%, followed by ITC, ONGC, NTCP and BPCL.

Most of the sectoral indices closed the day in positives. Bankex gained 189 points, Auto was up by 155 points and Metals were 129 points higher. Mid-Caps have gained 70 points and Small-Caps moved up by 43 points. However, Consumer Durables, FMCG and IT closed in the red zone.

In the Asian markets, Nikkei closed 126 points lower and Taiwan was 61 points down. However Hang Seng ended on a positive note, up by 43 points.

Buzzer: PNB surged 5% after mid-session today. The stock made an intraday high of Rs 587 and closed above the technical level of Rs 570. If it holds this level ahead, it may touch Rs 600 in the next few trading sessions.

Nifty Futures has seen massive moves from the past few trading sessions. 6200 will be an important support level on the lower side. As long as the index trades above this level, it may continue with the positive scenario.