Nifty above 5200, gain of 3% this week

MUMBAI (Makemystocks): Indian equity markets opened gap up amid positive global cues. Indices soon witnessed profit booking led by Financial and Realty stocks. On the other hand strong buying was witnessed in Metal, IT and Oil & Gas stocks.

Indices remained choppy and lackluster in afternoon session. Indices recovered in afternoon session led by Reliance. Recovery in European markets help indices to sustain gain. European markets opened in red but slowly recovered in positive territory.

Nse Nifty index closed above 5200. Capital Goods stocks witnessed buying in closing session. Market breadth remained positive on all round buying. Midcap and Smallcap indices closed with the gain of 0.6% and 1.3% respectively. Benchmark indices closed with gain 0.9% each.

BSE Sensex closed at 17233.98 with the gain of 156.80 points and at NSE Nifty closed at 5204.70 with the gain of 46.40 points at the end of the day. BSE MIDCAP index closed at 5872.36 with the gain of 38.32 points and BSE SMALLCAP index closed at 6491.69 with the gain of 83.24 points.

In percentage terms key gainers were Sesa Goa Ltd (NSE: SESAGOA), Steel Authority of India Ltd (NSE: SAIL) and Sterlite Industries (India) Ltd (NSE: STER) while key losers were Ranbaxy Laboratories Ltd (NSE: RANBAXY), DLF Ltd (NSE: DLF) and Bharat Heavy Electricals Ltd (NSE: BHEL).

On sectoral front major buying was seen in Oil & Gas, Metal, IT, Capital Goods and Auto sectors while key losers were Realty, FMCG and Banking & Financial sectors. Market breadth on BSE remained positive were 1800 advances against 1101 declines stocks.

From the perspective of weight in Nifty key gainers were Reliance Industries Ltd (NSE: RELIANCE), Inofsys Ltd (NSE: INFY) and Larsen & Toubro Ltd (NSE: LT) while key losers were ITC Ltd (NSE: ITC), Housing Development Finance Corporation Ltd (NSE: HDFC) and HDFC Bank Ltd (NSE: HDFCBANK).

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