MTECHTIPS

MTECHTIPS:Technical Snapshot:
The Nifty futures opened the day with small gains on global cues, but the index witnessed some buying interest in afternoon trades, which helped the markets to close at higher levels. Equity markets managed
to snap yet another session in the green territory with the frontline equity indices amassing over half a percent gains and extending the gaining streak for the fourth consecutive session. The frontline gauges showed side-ways movement since the start of trade and seesawed around the psychological 5,300 levels. However, the key gauges succeeded in coming out of their range bound trajectory in afternoon trades and trended northwards, thanks to the rally in Automobile and Healthcare counters.The rate sensitive Automobile counter rallied higher than all its peers in the space with over two percent gains. While the defensive pockets
like Healthcare and FMCG too witnessed hefty buying interests as they surged by around a percent each. But, the Capital Goods and Power sectors declined by over half a percent and remained top laggards as heavyweight BHEL got pounded by over three and half a percent amid reports that an US investment bank downgraded BHEL to Underweight citing slack demand led India from an undersupplied to an over-supplied market for power equipment.The markets gained on strong volumes of over Rs 1.44 lakh crore
while the turnover for NSE F&O segment remained on the higher side as compared to that on Wednesday at over Rs 1.09 lakh crore.