Markets closed at all time high lead by financial and index heavy weights. :: HDFC Securities

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Statistics

India's benchmark share indices Sensex and the Nifty ended at fresh record closing highs. The 30-share Sensex ended 523 points higher at 28,785 after hitting fresh all-time high level of 28,829.29  and the 50-share Nifty closed up 145 points at 8,695 after touching life-time high level of 8,707.90. In the broader market, both the BSE Midcap and Smallcap indices underperformed the front-liners with gains of around 0.4% each. Market breadth in BSE ended positive with 1,556 advances against 1,417 declines.  NSE cash turnover was at Rs. 18112.

Sectors & Stocks

BSE Metal index, ended up over 3% was the lead gainer following better-than-expected fourth quarter Chinese GDP data. BSE Bankex gained 1.8%, BSE FMCG index gained around 1.7% and BSE Oil & Gas ended higher by 1.3%.  Sesa Sterlite and Tata Steel gained around 5.4% and 4.5% each while Hindalco ended up 2.8%. Axis Bank gained over 4%, SBI gained around 1.5%, ICICI Bank gained around 2% and HDFC Bank gained over 1%.

Way forward

Nifty ended up 1.69%. Nifty is making higher top higher bottom formation from last 4 sessions. Today Nifty opened with up gap which is a bullish indication. If  in coming session Nifty sustains above 8680 level then traders could expect  Nifty to trade up to 8795. If Nifty trades below 8680 level and sustains for 15 mins then traders could expect down move up to 8625  followed by 8600 level.