Mumbai: The Indian market has kept investors and traders guessing on its next move after a stellar rally of 20 per cent in 40 days. For Nifty, Monday's close was the sixth day of consolidation within the 5300-5400 range. While the rally appears to have lost its steam, it has refused to drift lower. This has baffled the market participants who cannot decided whether to hold long positions or create shorts.
Global cues will continue to make an impact on our market. On the domestic front, impending elections and anticipation of the wining party thereafter will influence market sentiments.
The Sensex shuts shop at 17772.84 up 24.15 points or 0.14 per cent and the Nifty closed at 5390.20 up 8.60 points or 0.16 per cent. About 1509 shares advanced, 1364 shares declined, and 526 shares remain unchanged.
Top gainers on the Nifty: Reliance Infra, Sesa Goa, Kotak Mahindra Bank, Sun Pharma and Hero Motocorp spiked 2-5 per cent.
Top losers on the Nifty: Wipro, SAIL, Tata Power, Cipla and SBI shed 2-3 per cent.
In the midcap space, Indiabulls, Balkrishna Industries, National Fertilisers, Amara Raja Batteries and Monsanto India gained 7-15 per cent. Hathway Cable, Suzlon Energy, Pantaloon Retail, Himadri Chem and Vaarad Ventures lost 5-8 per cent.
In the smallcap space, Jamna Auto, Honda Siel, Tilaknagar Industries, Minda Ind and NCC were up 8-20 per cent. Lovable Lingerie, KGN Enterprises, Gati, Garden Silk Mills and C & C Construct ended deep in red.
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