Bankex Brings Cheers To Street, Sensex closes at 21919
Suparna / 07 Mar 2014
Following the trend from the morning session the Indian markets witnessed a massive rally helped by Bankex stocks which closed higher by 5%. The 30 share Bombay Stock Exchange made a life time high during the intraday trade and closed up by 405 points at 21919, whereas the broader 50 share Nifty index crossed the 6500 mark closing up by 125 points to trade at 6526. On the losing side were Healthcare and IT indices which closed the last day of week on a negative note down by 210 and 191 points respectively.
The Indian markets continued with the bullish scenario and most of the rally was driven by Bankex which is up more than 5%.It was followed by Capital Goods and Oil & Gas which also witnessed a massive up-move in today’s session. Nifty closed up by 125 points at 6526 and Sensex was 405 points higher to trade at a life time high of 21919.
The advance-decline ratio on NSE was on the negative side as the day ended with 1619 shares in green and 1752 shares in the red zone.
Top Nifty Gainers: JP Associates gained 9.8% in today’s trade, followed by DLF, BHEL, ICICI Bank and Axis Bank.
Top Nifty Losers: Dr Reddy’s Labs closed the day lower by 3.60%, followed by Wipro, Infosys, Lupin and Sun Pharma.
Most of the sectoral indices closed on the positive side. Bankex remained the biggest gainer of the day, up by 689 points. Capital Goods and Oil & Gas also surged around 350 points. Metals, Consumer Durables, Auto and FMCG closed on the positive note as well. However Mid-Caps and Small-Caps also witnessed negative trade up by 80 points each. However, Healthcare and IT were in negative territory down by 210 points and 191 points respectively.
On the Asian markets front, the Nikkei market closed in the positive zone, up by 139 points. Hang Seng closed down by 42 points. KOSPI and Shanghai Composite also closed on negative note.
Buzzer: DLF was up more than 9% on the bourses today and closed near the technical level of Rs 160. If the stock opens above this level, it may touch the Rs 175 mark in the next few sessions.
From last few trading session we had mentioned in our update that Nifty Future, if given a bullish crossover has the possibility to makes new tops. Our predictions came true as we witnessed 6562 level on the higher side.
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