Nifty snapped a 4-day winning streak to end marginally lower
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The Meanwhile, the Nifty ended 17 points lower to close at 8,544. Its Advance-Decline Ratio stood at 27:23 with Idea Cellular, Cairn India and Hero Motor being the top losers. Tata Steel, Bank of Baroda and Hindalco made up Nifty's top gainers list. State Bank of India was the most active counter on the Nifty, trading 2.88 crore shares.
While the frontline index was muted, traders shifted their attention to the middle rung counters. As a consequence, strong gains were seen on the CNX Nifty Junior, CNX Small Cap Index and the CNX Midcap Index respectively.
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The trend in the wider market favoured the bulls with 1,627 stocks rising versus 1,264 fell.
Overall trade was bearish in the derivatives space with Nifty Futures ending with modest losses. But Banking, Fertiliser, Metals and Textiles were the major gainers among 18 industries in both price and open interest. The Advance-Decline Ratio was a modest 89/72 in the futures and Options market.
Earnings from Britannia, Capital First and Nilkamal lit up the markets whereas those from Jay Shree Tea Industries disappointed investors.
Stocks that hit fresh 52 week highs were Amara Raja Batteries, Century Enka and Bharat Electronics.
(Image credits: Indiatimes)
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