Closing market podcast for April 11, 2018

The momentum continued on D-Street for fifth consecutive day in a row on Wednesday as both Sensex and Nifty50 ended with gains of over 0.1 percent each. The S&P BSE Sensex closed just 60 points short of its crucial psychological level of 34000 while Nifty ended above 10400.

The Nifty50 closed above its crucial psychological level of 10400 for the second consecutive day in a row which is a bullish signs; however, the momentum seems to be slowing down. The index closed 0.14 percent higher at 10,417. It hit an intraday low of 10,355.

The S&P BSE Sensex which closed just 60 points shy of Mount 34K hit an intraday low of 33,750 before closing the day at 33,940 up 60 points. However, there was plenty of action in individual stocks.

Nearly 100 stocks on the BSE rose to fresh 52-week high which include names like Jubilat FoodWorks, SRF, HIL, Avenue Supermarts, HUL, Balkrishna Industries, Aarti Industries, Dilip Buildcon, Pidilite Industries, and Titan Company Ltd etc. among others.

Top Sensex gainers include names like TCS (up 2.8%), followed by Sun Pharma (up 2.5%), RIL (up 1.3%), HUL (up 1.29%), and Kotak Mahindra Bank (up 1.09%).

Top Sensex losers include names like Yes Bank (down 2.2%), followed by Adani Ports (down 2.26%), ICICI Bank (down 1.6%), Axis Bank (down 1.19%), and ITC (down 1%).

Sectorally, metal index rose 1.6%, followed by IT index rose 1.3%, consumer durables gained 1.02%, and auto index closed 0.5% in green.

On the other hand, oil & gas stocks closed 2.2% lower, followed by PSU which closed 1.7% down, and banking index ended 0.7% lower.

The S&P BSE Midcap index slipped 0.19 percent, and the S&P BSE Smallcap index rose 0.2% up.