The markets ended at record high closing where, Nifty made a new high of 8489.80 and Sensex at 28360.66. Sustained institutional participation and short covering ahead of the Parliament session which will convene on Monday in which government is confident in passing many bills. Fresh buying interest has emerged in the Banking sector after the merger announcement of Kotak Mahindra Bank and ING Vysya.
Nifty Friday closed at 8477 up around 75 points. But the market breadth stood negative as there were seen 1367 stocks advancing against 1645 stocks declining. The Nifty volatility index, India VIX stood at 13.8525 down around 2.20%.
Barring IT and Healthcare, which closed down around 0.72% and 0.33% all other sectors ended in green. The gainers on other end were Banking and Capital goods which closed up around 2.37% and 1.32% respectively.
In the stocks’ front, the gainers were Kotak Bank and BHEL which closed up around 3.70% and 2.93% respectively where as the losers was Jindal Steel and INFY which closed down around 2.56% and 1.93% respectively.
The FIIs were net sellers in the capital market segment, sold shares worth Rs 477.15 crore on Thursday, 20 November 2014. On the other hand the DIIs were net buyers on 20 November 2014, bought shares worth Rs 101.62 crore as per the provisional data from the stock exchanges.
The European markets rose on the news that the Chinese central bank injected funds on a short term basis. The US index futures were also trading with a positive note.
By Mr. Alex Mathews, Head Research, Geojit BNP Paribas Financial Services Ltd
