Bulls In The Driving Seat, Nifty Touches 6300
Suparna / 04 Mar 2014
Most of the sectoral indices rallied to close the day on a higher note. Nifty closed the day up by 74 points at 6298 and the Sensex closed up by 270 points at 21217. Easing tensions between Russia and Ukraine helped Asian market to close the day in positive territory
The Indian markets witnessed superb rally after mid-session. Bankex made a resilience move to cross all the hurdles. It was followed by Metal and Capital Goods which also provided good support to the indices. As a result, Nifty closed up by 74 points at 6298 and Sensex was 270 points higher at 21217.
The advance-decline ratio on NSE was on the positive side as the day ended with 1870 shares in green and 1406 shares in the red zone.
Top Nifty Gainers: Hindalco gained 7.95% in today’s trade, followed by Bank Of Baroda, IndusInd Bank, PNB and IDFC.
Top Nifty Losers: HCL Tech closed the day lower by 1.5%, followed by JP Associates, Sun Pharma, Dr Reddy’s Labs and TCS.
Most of the sectoral indices closed on the positive side. Bakex was the biggest gainer of the day, up by 297 points. Metal and Capital Goods also surged up by 293 points and 205 points respectively. Oil & Gas also closed on a positive note up more than 100 points. Mid-Caps and Small-Caps witnessed positive trade too. However, only Healthcare closed in some negative territory.
On the Asian markets front, the Nikkei market closed in the positive note, up by 69 points. Hang Seng closed up by 156 points. Strait Times and Taiwan closed on negative note as well.
Buzzer: InduInd Bank was up more than 5% on the bourses today and closed near the technical level of Rs 410. If the stock opens above this level, it may touch the Rs 425 mark in the next few sessions.
Nifty futures closed above the technical level of 6300. If it opens and sustains above this level, may see 6340/6370 level on tomorrow’s trading session.
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