Surprising Rally At Closing
Suparna / 22 Jan 2014
The Indian markets witnessed range bound trade till the mid-session. However, at the closing hours smart rally is seen in Healthcare, Metals and Oil & Gas indices. As a result indices closed at the top level of 2014. The Nifty closed the day up by 25 points at 6338 and Sensex was 86 points higher at 21337.
The Indian markets witnessed range bound trade till the mid-session. However, at the closing hours smart rally is seen in Healthcare, Metals and Oil & Gas indices. As a result indices closed at the top level of 2014. The Nifty closed the day up by 25 points at 6338 and Sensex was 86 points higher at 21337.
The advance-decline ratio on the NSE was in the positive by day’s end, with 1634 shares in green and 1520 shares in the red zone.
Top Nifty Gainers: Sun Pharma gained 2.95% in today’s trades, followed by Tata Steel, Lupin, BPCL and Hindalco.
Top Nifty Losers: Asian Paints closed the day lower by 1.39%, followed by SBI, Cairn India, ACC and Grasim.
Most of the sectoral indices closed on a positive note. Healthcare index was the top gainer for today’s session which surged by 133 points. Metals and Oil & Gas indices also witnessed buying up by 80 points each. Mid-Caps and Small-Caps also saw up-move by 18 points and 13 points respectively. Bankex, Auto and IT indices closed in positive territory. However Capital Goods saw some loss in today’s session.
The Asian markets closed on a positive note. Nikkei ended higher by 25 points. Hang Seng closed 49 points up. KOSPI and Taiwan were in positive territory.
Buzzer: Sun Pharma gained more than 2.5% on the bourses today and closed above the technical level of Rs 590. If the stock remains above this level, it may touch the Rs 620 mark in the next few sessions.
As per our expectation Nifty Futures rallied. By looking at the current scenario it can be said that the markets may cross the 6400 level soon.
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