Indian equity benchmark indices witnessed increasing volatility today in the market ahead of September series expiry. Both the flagship indices of India Inc. pared most of the intraday losses as traders covered some short positions ahead of the expiry of September F&O series. During the day, Nifty was seen as breaching the 5800 mark but pulled back successfully and managed to end the day up by 18.60 points by closing at 5873.85. Sensex also recovered from the day’s low and closed at 19856.24 up by 63.97 points.
The Nifty was extremely choppy towards close of the session after recouping losses and recovered nearly 75 points from day's low and the Sensex nearly 230 points from day's low. Bank Nifty, which caused the downward move in the market today, also recovered nearly 175 pts from day's low. According to dealers, the market may move higher to close in the positive territory. Power, pharmaceuticals, PSU banks and capital goods led the up-move while FMCG, oil & gas and rate sensitive stocks led the decline.
Among sectoral indices, CNX Media (2.60%) led the gainers and accompanied by CNX PSU Banks (1.76%), CNX Infra (1.59%), CNX Pharma (1.32%), CNX PSE (1.21%) and CNX Metal (1.12%). Among the losers, CNX FMCG plunged most (-1.00%) and followed by CNX Finance (-0.99%), Bank Nifty (-0.93%) and CNX Energy (-0.91%).
Market breadth remained negative all day long on the NSE with 358 gainers against 502 losers and 40 remaining unchanged.
Out of 50 stocks of Nifty, 22 stocks advanced while 28 stocks declined.
Top 5 Nifty gainers: BHEL today took the baton and charged the rally at Nifty by gaining 8.91% and chased by Sesagoa (4.34%), Hindalco (3.75%), SBIN (2.86%) and NTPC (2.51%).
Top 5 Nifty losers: BPCL emerged as most losing stock on the Nifty plunging by (-3.28%) and followed by Reliance (-3.21%), HDFC Bank (-2.91%), M&M (-2.81%) and DLF (-2.64%).
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