Markets closed in the positive on volatile session :: HDFC Securities

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Statistics

The 30-share Sensex ended higher by 128.23 points at 28,355.62 and the 50-share Nifty gained 39.20 points at 8,565.55. Among broader markets, BSE Midcap and Smallcap indices ended mixed. Market breadth was marginally weak with 1,400 losers and 1,330 gainers on the BSE. NSE cash turnover was at Rs. 19744 cr.

Sectors & Stocks

BSE Auto, Bankex, Consumer Durables and Metal indices surged by almost 2% each. However, BSE IT and Oil & Gas indices plunged by nearly 1%. SBI, Bank of India, ICICI Bank, Bank of Baroda, YES Bank, OBC, Union Bank of India and PNB were up 3-4% on the NSE. IndusInd Bank, Canara Bank, Kotak Mahindra Bank, HDFC Bank and Axis Bank were up 1-2%. Tata Motors was the top Sensex gainer, up over 4%. M&M gained over 3%. Hindalco gained by nearly 2%. TCS and HDFC declined by almost 3%. Sun Pharma, RIL, NTPC, HUL and Wipro slipped between 1-2%

Way forward

Nifty is making lower bottom formation from last 7 sessions and in today's session it reverse it trend and closed in the positive on a volatile session. Nifty closed in  the positive by 0.46 %. If  in coming session Nifty trade & sustains above  8520 level then traders may see bounce in the Nifty, which could lead Nifty to 8590 followed by 8660 level. If Nifty sustains below 8520 level then traders could expect  continuation of down move in Nifty which could lead up to 8440 level followed by 8400 level.