Markets bounce back after two sessions of weakness It was a positive session for the markets as they ended higher despite giving up some gains in the last one hour of trade. Volatility was visible throughout the session ahead of F&O expiry.
The Sensex finally closed 80.5pts or 0.91% higher at 8,902.56. The Nifty gained 28.6pts or 1.05% to close at 2762.5. The broad market indices too ended higher as the BSE Midcap and Small Cap indices were up by 0.53% and 0.6% respectively. Market breadth was marginally positive as A/D ratio was 1.03:1 on the BSE.
Barring the BSE Realty and Capital goods indices, all the sectoral indices ended higher. The top gainers were the BSE Auto, IT, Metals and Oil and Gas indices. The top gainers from the BSE-30 were M&M, Tata Motors, Rel infra and Maruti. The top losers were Ranbaxy, HDFC, L&T, DLF and Rcom.
With the indices recovering, traders will need to see if further upsides can sustain. Important resistances to watch are at 2800-2850 on the Nifty. Tomorrow, being derivative expiry day markets are likely to be volatile. We recommend a cautious approach.