Nifty closes week on positive note - AXIS Direct

Tracking weak regional peers the markets opened on a soft note and slipped lower in the morning session. Nifty touched 4 ½ month lows on the day of F&O expiry and tepid expectations of India's quarterly current account and fiscal deficit data due to be released during the day. The markets gradually recovered in the afternoon session and witnessed a spike in the last half-hour leading the markets to close on a positive note. Among the sectoral indices Metals & Capital Goods gained more than 2 % each while Auto was the lone loser. In the Sensex stocks Gail (5.02%), Hindalco (3.98%) & ONGC (2.92%) were the gainers while Tata Motors (2.16%), Hero Motocorp (1.95%) and Bharti Airtel (1.77%) were among the losers. The Sensex gained 131 points or 0.70% to close at 18,836 and the Nifty gained 41 points or 0.73% to close at 5,683.

Total traded turnover stood at Rs 327,717 cr. In equities FIIs were net buyers of (Rs 574 cr) while DIIs were net sellers of (Rs 346 cr). On the derivatives side, FIIs were net sellers in Index Futures (Rs 141 cr) while they were net buyers in Index Options (Rs 214 cr) Stock Options (Rs 257 cr) Stock Futures (Rs 393 cr).

The US markets ended higher amidst lacklustre trade and lower than estimated economic data however sentiment was boosted by news that strict restrictions on transactions helped prevent panic on re-opening of banks in Cyprus. The Dow Jones gained 52 points or 0.36% to close at 14,579 while the NASDAQ gained 11 points or 0.34% to close at 3,268.

The Asian markets are currently trading lower. Nikkei is trading lower by 1.17% while Hang Seng is trading lower by 0.74%.

Asian markets slipped lower as China's factory output expanded at a lower than expected rate and survey in Japan indicated that business confidence among manufacturers improved less than estimated. Indian indices are expected to open on a flat note and global developments will be watched carefully for further direction.

Source : Equity Bulls

Keywords