Closing market podcast for April 13, 2018

Not the Friday the 13th as some would have imagined as benchmark indices closed with gains of over 0.2 percent on Friday. The Nifty50 did retest its crucial resistance level of 10500 but failed to close above the same towards the end of the session.

The Nifty50 rose for the 7th consecutive day in a row to close 21 points higher at 10,480. It rose to an intraday high of 10519.90 and an intraday low of 10,415.45.

The NiftyBank springs off lows in the last hour to end just over the flat line. The midcaps outperformed after a subdued session on Thursday.

Reliance Industries, Kotak Mahindra Bank, and HDFC were among the top contributors to Nifty. However, the market breadth was in favour of declines for the third consecutive day in a row with the advance-decline ratio at 1:1.

Sectorally, metals index rose by about 1%, followed by BSE Healthcare index which gained 0.56%, and BSE IT index closed 0.5% higher. On the other hand, telecom closed 0.7% lower, followed by capital goods index which ended 0.3% down, and S&P BSE FMCG index was down by 0.3%.