Nifty gains 36 points recoup morning losses

MUMBAI (Makemystocks): Indian stock markets gave moderate recovery after falling since last three days amid volatile trade. Market overlooked the weakness prevailing in Indian Rupee. The Indian rupee today touched a record low of 53.69.

Today market gave strong close after trading volatile for the whole day, some short covering may come from current level which may lift Nifty to the level of 4900.

The S&P CNX today gave gap gap down open at 4734 however market managed to recover and Nifty made high of 4782. Thereafter Nifty became range bound and traded in the range of 4748-4790. Short covering was seen in the last leg of trade which lifted Nifty to 4825 and Nifty settled at 4800 up by 36 points.

The European markets are trading in positive zone. The FTSE index is trading up by 28 points, DAX index is up by 40 points and CAC index is up by 2 points.

The market breadth, indicating the health of the market was negative. On NSE, 519 shares advanced while 906 shares declined. Total of 64 shares remained unchanged.

Out of 50-share S&P CNX Nifty pack, 40 scrips advanced while 10 scrips declined. Hindalco was up by 6.19%, Grasim was up by 4.7% and Sail was up by 4.01% were the top gainers from the Nifty pack.

RPower was down by 3.36% , LT was down by 1.77% and Relinfra was down by 1.4% were the top losers from the Nifty pack.

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