Closing market podcast for April 16, 2018

India markets climbed the wall of worries for yet another day on Monday on expectations that the weekend’s missile attacks on Syria would not mark the start of the greater conflict between Russia and US.

The United States, Britain, and France said the missile strikes targeted Syria’s chemical weapons capabilities and were not aimed at toppling Assad or intervening in the civil war, said a Reuters report.

U.S. President Donald Trump tweeted “mission accomplished” after the attack, underlining expectations that Western action would be limited, it said.

The S&P BSE Sensex and Nifty50 gain for the 8th straight day outperforming global peers. The S&P BSE Sensex recovers 406 points from lows to close 113 points in the green. The Nifty recovered 132 points from the lows to close above 100 & 50-days moving average (DMAs).

The S&P BSE Sensex closed 112 points higher or 0.3 percent at 34,305. The Nifty50 rose above its crucial psychological resistance level of 10500. It finally closed 47 points higher or 0.46 percent at 10,528.

The Nifty Midcap index and the Nifty bank gain more than 100 points each. The market breadth was in favour of declines despite gains. The advance-decline ratio stood at 1:1.

Top Sensex gainers include Kotak Bank (up 1.8%), followed by Hero MotoCorp (up 1.84%), Bajaj Auto (up 1.81%), M&M (up 1.6%), HDFC (up 1.6%), NTPC (up 1.5%), and Adani Ports (up 1.5%).

Top Sensex losers include names like Tata Motors (down 4.9%), followed by Tata Motors DVR (down 4.5%), Infosys (down 3.1%), Wipro (down 1.1%), and SBI (down 0.7%).

Sectorally, S&P BSE Realty index rose 1.8%, followed by the Healthcare index which gained 1.1 percent, and the FMCG index which rose 0.9%. The BSE It index lost 0.78%, and the S&P BSE Telecom index dropped 0.5%.

The S&P BSE Smallcap index rose 0.55, and the S&P BSE Midcap index gained 0.3%.