Bulls Have The Upper Hand As Indices Close On Life Time High
Suparna / 24 Mar 2014
Owing to a massive rally in almost the sectoral indices, the Indian markets closed on a life time high today. Bankex was the outperformer of the day gaining 376 points in today’s trade. The CNX Nifty closed higher by 88 points at 6583, whereas the Bombay Stock Exchange closed the day higher by a whopping 300 points at 22055. ICICI Bank was up by more than 3.6% on the bourses today.
The Indian markets witnessed a superb up move and held on to its gain on today’s closing session. Bankex and Oil & Gas were the leading gainers, followed by Auto, Metals and Capital Goods, which also closed on a positive note. The Nifty closed positive by 88 points at 6583 and Sensex was 300 points higher at 22055.
The advance-decline ratio on NSE was on the negative side as the day ended with 1509 shares in green and 1820 shares in the red zone.
Top Nifty Gainers: GAIL gained 4.92% in today’s trade, followed by ONGC, IndusInd Bank, ICICI Bank and NMDC.
Top Nifty Losers: HCL Tech closed the day lower by 1.67%, followed by Wipro, Dr. Reddy’s Labs, Cipla and Sun Pharma.
Most of the sectoral indices closed on a positive note. Bankex and Oil & Gas witnessed a good recovery by 376 points and 223 points respectively. Capital Good and Metals also recovered, around 95 points and 89 points. Mid-Caps and Small-Caps witnessed a nominal positive trade. However, Healthcare and Consumer Durables closed in the negative territory.
All the major Asian markets closed the day on a positive note. Nikkei closed up by 251 points, whereas Hang Seng closed up by 409 points. KOSPI and Shanghai Composite also closed in the positive territory.
Buzzer: ICICI Bank was up by more than 3.6% on the bourses today and closed near the technical level of Rs 1240. If the stock opens above this level, it may touch the Rs 1250 mark in the next few sessions.
Nifty Future closed around the technical level of 6600. If it opens above this level may see more positive trade.
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