Indices Witness A Scintillating Rally
Suparna / 20 Dec 2013
The markets witnessed a superb up-move in today’s session. Oil & Gas, Auto and Bankex saw good strength. Nifty closed up by 107 points at 6274 and Sensex was 371 points up at 21080. Reliance gained more than 4.8% on the bourses today.
The Indian markets witnessed a superb up-move in today’s session. The Oil & Gas, Auto and Bankex sectors saw good strength. Nifty ended at the day’s high, up by 107 points at 6274, and Sensex was 371 points up at 21080. Both indices saw gains in the range of 1.73%-1.79%.
The advance-decline ratio on the NSE remained positive. 1835 shares closed in the green and 1368 shares were in red.
Top Nifty Gainers: Reliance closed higher by 4.8% in today’s trades. Among the other stocks that closed in positives were ONGC, Wipro, Cairn India and HDFC.
Top Nifty Losers: The only stocks closing lower today were Sesa Sterlite, down by 1.1%, followed by Sun Pharma, Grasim and Jindal Steel.
Most of the sectoral indices recovered from the lower end. The Oil & Gas index led the rally, up by 323 points, and Auto and Bankex both closed by around 230 points. Capital Goods, FMCG, Healthcare and Metals were up in the range of 50 points. Mid-Caps and Small-Caps also ended on a positive note.
The Asian indices saw some sideways movement in today’s session. Straits Times and Nikkei were the strongest gainers, up by around 20 points. Taiwan Weighted and KOSPI both saw nominal up-moves. On the other hand, Shanghai Composite and Hang Seng ended lower by 76 points and 43 points respectively.
Buzzer: Reliance gained more than 4.8% on the bourses and closed at the technical level of Rs 880. If the stock continues to remain above this level, it may touch the Rs 920 mark in the next few sessions.
Nifty Futures closed above the psychological level of 6250. The index may see continue to move higher if it opens above this level next week.
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