Indian stock markets remained in a tight range despite the December futures and options (F&O) expiry. The weak Nifty rollover figure is indicating lower participation of investors during the Christmas season. Fresh buying interest may emerge only after New Year. But buying was seen in both mid cap and small cap sectors, which closed up around 0.41% and 1.23% respectively, and pulled the markets into positive terrain.
NSE Nifty closed at 6278 up around 10 points. But the market breadth remained positive as there were seen 1630 stocks advancing against 898 stocks declining.
The Volatility index (India VIX) closed at 14.88 down around 4.49%.
Power and consumer durables were the sectoral gainers for the day, closed up around 1.12% and 0.85% respectively. The loser sectors were auto and healthcare sector which closed down around 0.69% and 0.44%.
Tata Power and Oil & Natural Gas Corp (ONGC) were the gainers in the stockís front, ended up around 4.64% and 2.38% respectively. The losers on the other end were Bajaj Auto and Hero MotoCorp closed down around 2.23% and 1.86% respectively.
The FIIs were net buyers in the cash segment, bought shares worth Rs 40.67 crore on 24, Tuesday December 2013. On the other hand the DIIs were net sellers on 24 December 2013, sold shares worth Rs 43.90 crore as per the provisional data from the stock exchanges.
The markets in Germany, Australia and UK may remain closed today. The US index futures were trading higher.
- By Alex Mathews
(The author is Head of Research, Geojit BNP Paribas Financial Services Ltd. The views expressed in this article are author's own)