Markets gained for 5th consecutive session & closed at all time high :: HDFC Securities

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Statistics

Benchmark shares indices gained for the fifth straight day and also ended at record highs for the second straight session. The 30-share Sensex ended at a fresh record closing high of 28,889 after hitting a record high of 28,958.10 and the 50-share Nifty ended at a fresh record closing high of 8,730 after touching a life time high of 8,741.85.  The broader markets underperformed the benchmark indices- BSE Midcap and Smallcap indices were down 0.2% each. Market breadth ended weak with 1,716 losers and 1,225 gainers on the BSE. NSE cash turnover was at Rs. 20392.

Sectors & Stocks

On the sectoral front, BSE Consumer Durables index emerged as the top gainer up 1.4% followed by BSE Capital Goods, IT and Teck indices gaining up to 1%. BSE Bankex was up 0.4%. However, BSE FMCG and Metal indices lost sheen and were down over 2% and 0.6%, respectively. Bharti Airtel gained up to 3.7%. HUL gained 5%. TCS and Infosys ended higher up to 2%. Sesa Sterlite, Tata Steel and Hindalco were down between 1- 2%. Cipla, Tata Motors and Wipro were among the top losers on the BSE and were down between 0.5-3%. 

The Nikkei ended 0.5% lower at 17,280.48. The broader Topix slipped 0.5% to 1,390.61 and the JPX-Nikkei Index 400 shed 0.5% to 12,641.38.

Way forward

Nifty ended up 0.90%. Nifty is making higher top higher bottom formation from last 5 sessions. Today Nifty opened with an up gap but in later sessions it filled. If  in coming session Nifty trades above 8740 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.