Range-Bound Indices Close Negative
Suparna / 24 Dec 2013
The Indian markets traded in a narrow range, with Nifty closing 16 points lower at 6268 and Sensex down 68 points at 21032. Most of the sectoral indices closed on a negative note. Ranbaxy Labs was the top gainer for the day, surging by over 2.6%
The Indian markets traded in a narrow range in today’s session. The street had expected to see directionless movement even before the market opened. Nifty ended 16 points lower at 6268 and Sensex was down 68 points at 21032. Both indices saw losses in the range of 0.26%-0.32%.
Top Nifty Losers: Tata Power ended the day lower by 3.1%. Among the other stocks that closed in negatives were Sesa Sterlite, Wipro, Bank of Baroda and IndusInd Bank.
Most of the sectoral indices closed on a negative note. Metals and Bankex indices lost 108 points and 55 points respectively. Oil & Gas and FMCG also ended negative in the range of 15 points. However, the Capital Goods, Mid-Cap and Small-Cap indices closed in the positive territory.
In the Asian markets, Hang-Seng was 257 points higher, and Nikkei and Straits Times were both up by around 20 points. KOSPI and Shanghai Composite also closed in the green zone.
Buzzer: Ranbaxy Labs was the top gainer for the day, surging by over 2.6%. The scrip closed above the technical level of Rs 465. If it continues to remain above this level, it may see more buying to touch the Rs 500 mark in the next few sessions.
Nifty Futures has been hovering around the 6300 level, indicating that the expiry may be seen in the range of 6280-6330.
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