Indian markets celebrate Valentine's Day in style Backed by strong
Indian markets celebrate Valentine's Day in style Backed by strong positive global cues, the markets opened with an upgap this morning. Thereafter, there was no looking back and the markets closed the day with hefty gains. While the Sensex was up 817.49 points or 4.82% at 17,766.63, the Nifty gained 272.55 points or 5.53% to close at 5202.0. Broadmarket indices also participated in the celebrations as the BSE Midcap and Smallcap indices were up 5.33% and 3.96% respectively. The market breadth was healthy as A/D ratio was 3:1 on the BSE.
All the BSE Sectoral indices ended with decent gains. The outperformers included the BSE Capital Goods, Metals, Oil & Gas, Realty, PSU and Power indices. Gainers from the index pivotals included BHEL, Rel Energy, Rel Comm, Hindalco and ONGC. Infosys was the only loser amongst the BSE-30.
The markets have now closed with healthy gains for two days in a row. The main indices are also trading above the 200 day EMA which is a healthy sign. We recommend taking a small exposure with respect to fresh positions in order to get your legs into the door. More positions can be added once the uptrend is confirmed.
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