Markets End The Week On A High Note, Nifty Witnesses A Non-Stop Rally
Suparna / 28 Mar 2014
It was a week of ‘rallies’, as the Indian markets closed the last day of trading on yet another record high level. The 50 share Nifty index fell a tad short of touching the 6700 mark and closed the day up by 54 points at 6695, whereas the BSE 30 was positive by 125 points at 22339. Indian rupee is standing firm and trading at Rs 60 against one USD. Bankex and Metal sector were the top performers of the day.
The Indian markets witnessed a nonstop rally from the last 5 consecutive trading sessions. Indices continued to make new life time highs on daily basis. Bankex and Metals were the outperformer of the day. By viewing the currency sentiment, INR also saw a positive scenario to touch the level of Rs 60 against one USD. The Nifty closed in the positive zone up by 54 points at 6695 and Sensex was up by 125 points by 22339.
The advance-decline ratio on NSE was on the positive side as the day ended with 1983 shares in green and 1388 shares in the red zone.
Top Nifty Gainers: PNB gained 6.42% in today’s trade, followed by Bank of Baroda, Tata Power, Hindalco and UltraTech Cement.
Top Nifty Losers: Cairn India closed the day lower by 1.00% followed by Bajaj Auto, ONGC, ITC and Jindal Seel.
The sectoral indices closed on positive note. Bankex and Metals saw massive buying and were up by 171 points and 145 points respectively. Capital Goods and Healthcare were up by more than 80 points each. Mid-Caps and Small Caps also saw some up moves.
On the Asian markets front, the Nikkei market closed 73 points up. Hang Seng closed on positive note up by 231 points. Taiwan and KOSPI closed on mixed side as well.
Buzzer: Bank of Baroda was up more than 5% on the bourses today and closed above the technical level of Rs 730. If the stock opens above this level, it may touch Rs 745/750 mark in the next few sessions.
Nifty futures made a bullish move after it sustained above the level of 6650. Going ahead, 6750/6770 will be the major hurdle levels.
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