The markets opened gap down tracking weak cues from global peers but buying across sectors led the markets into the positive zone in the morning session. Trading in the positive zone markets continued to move higher throughout the day ending the session with stellar gains. All the Sectoral indices ended in the green with Capital Goods Auto & Bankex being the major gainers. Among the Sensex stocks Jaiprakash Asso. (7.09%), Hero Honda (5.86%) and HDFC (3.92%) were amongst the gainers while Tata Power (0.51%), Sterlite Inds.
(0.40%) were the losers. The Sensex gained 434 points or 2.25% to close at 19,697 while Nifty gained 125 points or 2.17% to close at 5,912.
Total traded turnover stood at Rs 1,48,971 cr. In equities FIIs were net buyers (Rs 26 cr) while DIIs were net sellers (Rs 5 cr).On the derivatives side, FIIs were net sellers in Index Futures (Rs 77 cr) , Stock Futures (Rs 1,056 cr) and Stock Options (Rs 19 cr).while they were net buyers in Index Options (Rs 208 cr)
The US markets ended mixed amidst volatile session and thin volumes as investors remained cautious after an unexpected rise in new unemployment benefit claims. The Dow Jones gained 14 points or 0.12% to close at 12,285 while NASDAQ closed flat at 2,760.
The Asian markets are trading mixed. Nikkei is trading lower by 0.43% while Hang Seng is currently trading higher by 0.74%.
The markets ended on a firm note; buying was seen across sectors. The markets may open on a flat note. Infosys results and monthly inflation data due for March to be released today may set direction for the market.
The trend deciding level for the day is 5855, If NIFTY trades above this level then we may witness a further rally up to 5940‐5980‐6015 levels. However, if NIFTY spot trades below 5855 levels then we may see some profit booking to initiate in market, it may correct up to 5820‐5790‐5765.
Stocks to focus for intraday long: HCLTECH, Herohonda.
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