Indices Close Side-Ways, A Wait For The Big Trigger
Suparna / 19 Mar 2014
Markets closed on a flat note amid some directionless movement in today’s session. While metal sector was shining IT and Oil & Gas closed on a lower level. The Nifty index closed in positive zone up by 7 points at 6524 and Sensex closed up nominally higher at 21832. Tata Steel gained more than 4%, while TCS closed lower by 3.89%. Markets playing an anticipation game are waiting for the big trigger of the FOMC meet.
The Indian markets witnessed flattish and some directionless movement in today’s session. Markets are on a wait and watch position anticipating the FOMC meet. In today’s session IT and Oil & Gas closed on the lower end however Metal, Bankex and FMCG were seen to be shining. The Nifty closed positive by 7 points at 6524 and Sensex was nominally positive higher by 21832.
The advance-decline ratio on NSE was on the positive side as the day ended with 1714 shares in green and 1655 shares in the red zone.
Top Nifty Gainers: Tata Steel gained 4.67% in today’s trade, followed by Hindalco, Ambuja Cement, Axis Bank and Asian Paints.
Top Nifty Losers: TCS closed the day lower by 3.89%, followed by ONGC, M&M, Coal India and GAIL.
The sectoral indices closed on mixed note. Metal and Bankex were the out performer of the day up by 189 points and 83 points respectively. FMCG and Capital Goods also witnessed a pull up around 50 points each. Mid-Caps and Small Caps saw some positive trade. However IT and Oil & Gas were hammered well down by around 198 points and 45 points respectively.
On the Asian markets front, the Nikkei market closed in positive territory, up by 51 points. Hang Seng closed on negative note down by 14 points. Shanghai Composite and KOSPI closed on the negative side too.
Buzzer: Hindalco was up more than 4% on the bourses today and closed near the technical level of Rs 120. If the stock opens above this level, it may touch the Rs 122/125 mark in the next few sessions.
Nifty futures continue to close above 6500 level, indicating good strength around this level.
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