Bulls Take Some Rest, Indices Close Mildly Positive
Suparna / 10 Mar 2014
The first day of the week traded in circles of volatility with indices closing the day on a mildly positive note. In the last couple of sessions markets witnessed a superb upward movement making a new life time high, with Sensex touching the 22,000 mark. Bankex and Capital goods sector were the biggest gainer of the day, both closing up by 259 points. At the end of the trading session Nifty was up by 10 points at 6537 and the Sensex closed up by 15 points at 21934.
The Indian markets witnessed a choppy movement till closing session today. However stocks like IndusInd Bank, Kotak Mahindra and L&T saw massive amount of buying to pull the indices on higher side. As a result, Nifty closed mildly positive by 10 points at 6537 and Sensex was 15 points higher by 21934.
The advance-decline ratio on NSE was on the positive side as the day ended with 1732 shares in green and 1645 shares in the red zone.
Top Nifty Gainers: IDFC gained 6.7% in today’s trade, followed by Kotak Mahindra, IndusInd Bank, JP Associates and Maruti Suzuki.
Top Nifty Losers: TCS closed the day lower by 3.8%, followed by Tata Motors, TCL Tech, NMDC and Sun Pharma.
Most of the sectoral indices closed on the positive side. Capital Goods remained the biggest gainer of the day, up by 259 points. Bankex and Oil & Gas also surged around 259 points and 101 points respectively. Mid-Caps and Small-Caps also witnessed positive trade up by 50 points and 30 points respectively. However, Healthcare and IT remained in stress, down by 230 points and 173 points respectively.
All the major Asian markets closed the day on a negative note. The Nikkei market closed down by 153 points, whereas Hang Seng closed down by 395 points. KOSPI and Shanghai Composite also closed in the negative territory.
Buzzer: IDFC was up more than 6% on the bourses today and closed near the technical level of Rs 110. If the stock opens above this level, it may touch the Rs 120 mark in the next few sessions.
Nifty Future continues to trade in the positive scenario and also closed above the technical level of 6550 level. This is indicating more strength ahead.
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