Nifty will remain in an uptrend, as long as, it is above 8,545
We had mentioned in Wednesday’s closing report that the Nifty will remain in an uptrend as long as it closes above 8,500. The major indices in the Indian stock markets were range-bound and made marginal gains during the day’s trading.
The top gainers and losers in major indices are given in the table below:
A day after it gained over 150 points, a benchmark index of the Indian equity markets closed in the green and inched up to a nearly two-week high on Thursday.
The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) closed the day's trade 75 points up at more than 28,220 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed in the positive territory. It was up 20.70 points or 0.24 percent at 8,588.65 points.
The S&P BSE Sensex, which opened at 28,291.88 points, closed at 28,298.13 points, up 75.05 points or 0.27 percent from the previous day's close at 28,223.08 points.
The Sensex touched a high of 28,359.96 points and a low of 28,163.69 points in the intra-day trade.
According to analysts, Indian markets opened positively tracking the SGX Nifty and Wednesday's data which showed healthy growth in services PMI (purchasing managers' index). Sentiment was also helped by upbeat economic data from China.
Markets gained due to the positive response to the Reserve Bank of India (RBI) governor's comments on the economy. Positive sentiments surrounding Cognizant’s quarterly results supported the rally across information technology (IT) stocks.
The FIIs were net buyers in the cash market segment on Wednesday. They bought shares worth Rs.447.90 crore.
Sector-wise, healthy buying was observed in capital goods, consumer durables, healthcare, banking and automobile stocks. However, fast moving consumer goods (FMCG), metal and oil and gas sectors came under selling pressure.
The S&P BSE capital goods index zoomed by 306.14 points, followed by consumer durables index which augmented by 213.21 points, healthcare index gained 198.56 points, banking index edged higher by 120.30 points and automobile index rose by 110.80 points.
The S&P BSE FMCG index receded by 93.05 points, metal index fell by 48.51 points and the oil and gas index was lower by 25.29 points.
Major Sensex gainers during Thursday's trade were Larsen and Toubro (L&T), up 2.74 percent at Rs.1,827.30; Dr.Reddy, up 1.79 percent at Rs.4,270.10; Tata Motors, up 1.63 percent at Rs.382.90; Lupin, up 1.37 percent at Rs.1,703.15; and
Tata Consultancy Services (TCS), up 1.28 percent at Rs.2,574.30.
The major Sensex losers were: ITC, down 1.70 percent at Rs.326.05; Coal India, down 1.59 percent at Rs.431.10, Reliance Industries, down 0.84 percent at Rs.979.40; Vedanta, down 0.78 percent at Rs.126.90; and NTPC, down 0.62 percent at Rs.135.65.
Among the Asian markets, Japan's Nikkei was up 0.24 percent, while Hong Kong's Hang Seng declined by 0.57 percent. China's Shanghai Composite Index also was lower by 0.88 percent.
In Europe, the London FTSE 100 index inched up by 0.09 percent. Germany's DAX Index and French CAC 40 also gained 0.20 percent and 0.37 percent, respectively, at the closing bell here.
The closing values of major indices in the Asian stock markets are given in the table below:
Among European indices, FTSE 100 was at 6,736.28, down 0.24% and the DAX was at 11,644.23, up 0.07%. Athex Composite Share Price Index was at 666.63, up 3.64%.