Indices Extremely Volatile, But Close On a Positive Note
Suparna / 06 Feb 2014
The markets today managed a pull back during the closing trade with Nifty closing 13 points higher at 6036 and Sensex up by 49 points closed at 20310. Auto was the top performer of the day up by 98 points, whereas Mid-cap and small-cap closed on a mixed note.
The Indian markets witnessed a nosedive trade after positive opening. However it managed to recover from lower ends. Auto, Consumer Durables, Metal and FMCG presented good support to the indices. As a result, the Nifty closed on positive note up by 13 points at 6036 and Sensex was 49 points higher at 20310.
The advance-decline ratio on NSE was negative as the day ended with 1584 shares in green and 1643 shares in the red zone.
Top Nifty Gainers: Coal India gained 4.7% in today’s trade, followed by Tata Power, HUL, NMDC and M&M.
Top Nifty Losers: JP Associates closed the day lower by 2.7%, followed by BHEL, DLF, PNB and Axis Bank.
The sectoral indices closed on mixed note. Auto was the outperformer of the day up by 98 points. Metals and FMCG indices witnessed pull back of around 85 points each. However Bankex, Capital Goods and IT were also up around 50 points each. However Mid-Cap and Small-Cap closed on mixed note.
On the Asian markets front, the Nikkei market closed in negative territory, down by 25 points. Hang Seng closed on positive note up by 153 points. Strait Times, Shanghai Composite and KOSPI closed on positive note as well.
Buzzer: Coal India gained more than 4.5% on the bourses today and closed above the technical level of Rs 265. If the stock remains above this level, it may touch the Rs 280 mark in the next few sessions.
Nifty Futures will look for major support around 5950 for further trade. If it sustains below this level we may see more pain, going ahead.
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