Nifty ends above 5300, gain over 2% this week

MUMBAI (Makemystocks): Indian equity markets opened flat amid mixed global cues. Indices remained choppy and lack luster most of the day. Pharma stocks witnessed buying While Metal stocks witnessed selling pressure in opening session.

Stock specific activity was seen in afternoon session. Realty and Power stocks recorded strong gain in afternoon session. Markets rallied in closeing session led by Reliance and Financial stocks. NSE Nifty index closed above 5300.

Markets breadth remained positive. Both Midcap and Smallcap indices closed with gain over 1% each. Benchmak indices closed with gain over 2% this week.

BSE Sensex closed at 17604.96 with the gain of 173.11 points and at NSE Nifty closed at 5325.85 with the gain of 55.95 points at the end of the day. BSE MIDCAP index closed at 6046.10 with the gain of 76.34 points and BSE SMALLCAP index closed at 6686.55 with the gain of 77.58 points.

In percentage terms key gainers were Industrial Development Finance Company Ltd (NSE:IDFC), Jaiprakash Associates Ltd (NSE: JPASSOCIAT) and NTPC Ltd (NSE: NTPC) while key losers were Hindalco Industries Ltd (NSE: HINDALCO), Reliance Communications Ltd (NSE: RCOM) and Jindal Steel & Power Ltd (NSE: JINDALSTEL).

On sectoral front almost all the sectoral indices closed in green barring Metal sector closed marginally in red. Major buying was seen in Realty, Pharma, FMCG, Banking & Financial and Oil & Gas sectors. Market breadth on BSE remained positive were 1714 advances against 1182 declines stocks.

From the perspective of weight in Nifty key gainers were ICICI Bank Ltd (NSE: ICICIBANK), Reliance Industries Ltd (NSE: RELIANCE), HDFC Bank Ltd (NSE: HDFCBANK) while key losers were Hindalco Industries Ltd (NSE: HINDALCO), Jindal Steel & Power Ltd (NSE: JINDALSTEL) and Tata Steel Ltd (NSE: TATASTEEL).

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