Local stocks closed on a positive note, NIFTY up 0.51%

The key domestic indices closed slightly higher. Nifty IT, Nifty Healthcare Index and Nifty Pharma shares rose, while Nifty Consumer Durables and Nifty Media shares fell.

As per provisional closing data, the barometer index, the S&P BSE Sensex, edged higher by 308.49 points or 0.42% to 74,459.53. The Nifty 50 index inched up 116.35 points or 0.51% to 23,053.10. In the past three trading sessions, the Nifty and Sensex inched up by 1.33% and 1.17%, respectively.

The broader market underperformed the frontline indices. The BSE 150 MidCap Index shed 0.90% and the BSE 250 SmallCap Index plunged 2.14%.

The market breadth was weak. On the BSE, 1665 shares advanced and 3547 shares retreated. A total of 211 shares were unchanged.

Eternal Ltd was the top traded stock in NIFTY50 index today, recording a quantity of 386.78 lakh shares and recorded a sharp decline of 8.17% compared to last one-week’s average daily volume. The stock has risen sharply by around 3.05% in last one-month and has gained modestly 2.24% over last one year.

HDFC Bank Ltd was the second highest traded stock in NIFTY50 index today, recording a quantity of 212.97 lakh shares and registered a sharp decline of 37.16% compared to last one-week’s average daily volume. The stock has dropped sharply 5.45% in last one-month and has lost significant ground 32.20% over last one year.

7 stocks in NSE500 index hit record high today.

Index action

The Nifty IT index moved up by 2.32% to 32606.9 today. The index is down 0.67% in last one week and has posted strong gains of 15.17% over last one month. It has retreated by 11.70% in last one year. Wipro Ltd (up 4.32%), Coforge Ltd (up 4.23%), LTM Ltd (up 3.39%), Infosys Ltd (up 3.36%) and Persistent Systems Ltd (up 2.86%) jumped.

The Nifty Healthcare Index index rose by 1.58% to 16449.55 today. The index has jumped by 4.37% in last one week and has slipped by 2.23% over last one month. It has edged higher by 8.46% in last one year. Laurus Labs Ltd (up 7.20%), Zydus Lifesciences Ltd (up 5.16%), Apollo Hospitals Enterprise Ltd (up 3.02%), Fortis Healthcare Ltd (up 1.76%) and Cipla Ltd (up 1.54%) rose.

The Nifty Consumer Durables index declined by 1.78% to 34525.15 today. The index is up 0.90% in last one week and has shed 5.33% over last one month. It is down around 9.74% in last one year. Amber Enterprises India Ltd (down 5.93%), Dixon Technologies (India) Ltd (down 4.25%), Crompton Greaves Consumer Electricals Ltd (down 4.22%), Thangamayil Jewellery Ltd (down 3.79%) and Kalyan Jewellers India Ltd (down 3.30%) moved lower.

The Nifty Media index eased by 1.46% to 1631.25 today. The index is sharply higher by 4.47% in last one week and has risen 7.42% over last one month. It edged up by 5.87% in last one year. Zee Entertainment Enterprises Ltd (down 5.83%), D B Corp Ltd (down 3.40%), Sun TV Network Ltd (down 1.99%), Nazara Technologies Ltd (down 1.63%) and Network 18 Media & Investments Ltd (down 1.57%) dropped.

The Nifty Healthcare Index index rose for a third session in a row today. Laurus Labs Ltd (up 7.20%), Zydus Lifesciences Ltd (up 5.16%), Apollo Hospitals Enterprise Ltd (up 3.02%), Fortis Healthcare Ltd (up 1.76%) and Cipla Ltd (up 1.54%) gained.

Global Markets

European markets lost slightly.

DOW futures are up 0.05% today.

MCX Crude oil futures are firmly higher by 1.99% at Rs 9700.0 per barrel.

NIFTY50 futures closed modestly higher by 0.23% at 23101 and are in a premium of 48 points compared to NIFTY50.