Markets end flat amid volatility - BSE stocks market cap tops 300 lakh crore

View on Market Performance - Mr. Devarsh Vakil - Deputy Head Retail Research, HDFC Securities

Nifty rose for the seventh consecutive session to close with a gain of 9 points or 0.14% at 19415. It was a volatile trading session within a narrow range for Nifty and BankNifty. Nifty Midcap 100 and Nifty Small cap 100 Index outperformed the Nifty where they gained 0.71% and 0.74% respectively as against Nifty's rise of 0.05%. Advancing shares outnumbered the declining shares where advance decline ratio stood at 1.30 on BSE.

ICICI Bank Ltd. contributed the most to the index gain, increasing 1.4%. Bajaj Auto Ltd. had the largest increase, rising 5.7%.

Market valuation of all listed firms on the BSE hit a lifetime high of Rs 300 lakh crore for the first time today.

Markets in Europe and Asia declined across the board on Wednesday as investors await the release of private surveys on services activity in China and Japan.

US stock markets remained closed on Tuesday on the account of US Independence day.

NSE Cash market volumes were higher as compared to last ten day average. Amongst the sectoral Indices, Nifty FMCG, Auto and Media gained the most while Nifty financial services and Banks fell the most. Nifty has got support at 19300, below which weakness could emerge. The level of 19500 would continue to offer resistance in the short term for the Nifty. For the Bank Nifty - the level of 45000 should be watched closely for the support on the downside.

Source : Equity Bulls

Keywords

HDFCSecurities MarketPerformance Nifty BankNifty Sensex