MUMBAI: Indices ended a choppy session on a flat-to-positive note Wednesday, as traders squared positions ahead of June F&O expiry. Poor run from global indices also played spoilsport. Meanwhile, buying activity was seen in second tier stocks.
According to analysts, there is some upside left in the market and Nifty is likely to touch 5480 levels next month.
“Some short covering was seen in Nifty futures and the expiry is likely to be close to 5400 levels. We are expecting some profit booking next week which can pull the Nifty down to 5200 levels. Technically, the overall bias is positive and Nifty can scale 5480 levels in the month of July,” said Arun Mewawalla, Senior Derivative & Technical Analyst, Quantum Securities.
Bombay Stock Exchange’s Sensex closed at 17755.94, up 6.25 points or 0.04 per cent. The 30-share index touched intraday low of 17629.19 and high of 17782.41.
National Stock Exchange’s Nifty ended at 5323.15, up 6.60 points or 0.12 per cent. The broader index touched a low of 5288.15 and high of 5333.30 in today’s trade.
The BSE Midcap Index was up 0.84 per cent and BSE Smallcap Index moved higher by 0.70 per cent.
Amongst the sectoral indices, BSE Realty Index advanced 1.43 per cent, BSE Healthcare Index moved 1.42 per cent higher and BSE IT Index edged 0.73 per cent up.
Maruti Suzuki (3.18%), Unitech (2.96%), Sun Pharma (2.18%), ACC (2.12%) and Suzlon Energy (2.04%) were the top Nifty gainers.
Losers included L&T (-3.19%), HCL Tech (-1.86%), Sterlite Industries (-1.48%), NTPC (-1.43%) and Reliance Power (-1.38%).
Market breadth was positive on the BSE with 1901 advances against 1191 declines.
European markets were in the negative terrain while US futures suggested a firm start. At 4:45 pm IST, Dow Jones futures was up 0.44 per cent, Nasdaq gained 0.44 per cent and S&P 500 moved 0.46 per cent higher.
According to analysts, there is some upside left in the market and Nifty is likely to touch 5480 levels next month.
“Some short covering was seen in Nifty futures and the expiry is likely to be close to 5400 levels. We are expecting some profit booking next week which can pull the Nifty down to 5200 levels. Technically, the overall bias is positive and Nifty can scale 5480 levels in the month of July,” said Arun Mewawalla, Senior Derivative & Technical Analyst, Quantum Securities.
Bombay Stock Exchange’s Sensex closed at 17755.94, up 6.25 points or 0.04 per cent. The 30-share index touched intraday low of 17629.19 and high of 17782.41.
National Stock Exchange’s Nifty ended at 5323.15, up 6.60 points or 0.12 per cent. The broader index touched a low of 5288.15 and high of 5333.30 in today’s trade.
The BSE Midcap Index was up 0.84 per cent and BSE Smallcap Index moved higher by 0.70 per cent.
Amongst the sectoral indices, BSE Realty Index advanced 1.43 per cent, BSE Healthcare Index moved 1.42 per cent higher and BSE IT Index edged 0.73 per cent up.
Maruti Suzuki (3.18%), Unitech (2.96%), Sun Pharma (2.18%), ACC (2.12%) and Suzlon Energy (2.04%) were the top Nifty gainers.
Losers included L&T (-3.19%), HCL Tech (-1.86%), Sterlite Industries (-1.48%), NTPC (-1.43%) and Reliance Power (-1.38%).
Market breadth was positive on the BSE with 1901 advances against 1191 declines.
European markets were in the negative terrain while US futures suggested a firm start. At 4:45 pm IST, Dow Jones futures was up 0.44 per cent, Nasdaq gained 0.44 per cent and S&P 500 moved 0.46 per cent higher.
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