Closing Bell: Nifty fails to sustain 11,600 levels - From RIL to ONGC, check top gainers of stock market today
Noteworthy, heavyweight stock Reliance Industries or RIL closed over 1.45 per cent in the intraday trade on TuesdayMajor gainers were ONGC, Zee Entertainment, Sun Pharma, Bajaj Finance.
Stock Market Closing Bell: The BSE Sensex lost 80 points after closing at 38,564 levels while the 50-stock Nifty plunged 18 points and closed at 11,576 levels. Noteworthy, heavyweight stock Reliance Industries or RIL closed over 1.45 per cent in the intraday trade on TuesdayMajor gainers were ONGC, Zee Entertainment, Sun Pharma, Bajaj Finance. While major losers at the end of the day were Maruti Suzuki, Tata Steel, Hero Motocorp, Yes Bank and IndusInd Bank. However, Auto sector remained the losing sector with a correction of around 1.5 per cent on Tuesday.
Talking about the markets Naveen Kulkarni, Head of Research, Reliance Securities told Zee Business Online, ''NIFTY (11594) near-term metrics in sell mode. while BankNifty four days gain wiped out in two sessions, near-term measures indicate more pain. The market breadth of Indian equities remained negative for the second day on the NSE cash segment. FIIs continued as net buyers for the 10th day in a row, while DIIs remained net sellers for the 2nd day on the equity cash segment. The market internals of global equities remains positive across all timeframes. However, breadth negative yesterday. 4% (previous 4%) of the global equities scaled to 52-week highs, while 1% (previous 2%) of them hit fresh 52-week lows."
On global front, while German investor sentiments improved to the best in 11 months and China Q1 GDP and Industrial production numbers surprised positively, the global equity markets were not moved majorly by these events over Wednesday/Thursday. While FIIs continue to be bullish on India. Eventually in this move Nifty could reach 12,100 in the next 1-2 weeks. Banks Auto and Oil & Gas stocks could do well.
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Meanwhile, European DAX corrected 0.2 per cent and traded around 12,196 levels. While Asian stocks had a upside session today with Japan's Nikkei going up by 41 points or 0.19 per cent. The Shanghai index went off near 0.5 per cent during market closing.
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