Research Reports

Markets end with modest gains

Indian markets erased half of its morning gains in afternoon trade to close with modest gains.

Statistics

While the BSE Sensex finally closed 61.18pts or 0.36% higher at 16,967.76, the Nifty gained 21.1pts or 0.41% to close at 5,141.9. Broad market indices too ended higher as the BSE Midcap and Small Cap indices gained 0.36% and 0.32% respectively. Market breadth was marginally positive as the A/D ratio was 1.11:1 on the BSE. NSE cash turnover was Rs.8,001crs. Vs. Rs.7,616crs. in the previous session.

Sectoral and Stock movers

The sectoral indices ended with a mixed bag. While the top gainers were the BSE Metal, Power, IT and Healthcare indices, the top losers were the BSE Auto, CD and Oil and Gas indices. The top gainers from the BSE 30 were Tata Steel, Tata Power, Sterlite, Sun Pharma and Hindalco. The top losers were Tata Motors, Bharti Airtel and Wipro.

Way forward

With the Nifty holding above the 5100 levels, the markets look set to remain range bound at least for the next few sessions. Our hypothesis would turn wrong if these supports are broken.