Benchmark indices ended the day on a positive note, along with a rally in midcaps. The market breadth was positive, but narrow, as 1,813 shares advanced against a decline of 1,054 shares, while 174 shares were unchanged.
GAIL, Adani Ports, Grasim Industries and Bank of Baroda were top gainers on both the indices, while ICICI Bank, Axis Bank and Yes Bank were the top losers. The Bank Nifty closed lower by 0.30 percent at 21,491.Even as the market has largely been in consolidation mode, the Street gained some momentum on Thursday, with the Nifty snapping its five-day losing streak.
The Sensex was up 85.82 points at 29422.39, while the Nifty was up 32.90 points at 9136.40. The market breadth was positive as 1,823 shares advanced against a decline of 1,048 shares. Broader markets continued to outperform benchmarks as Midcap index gained almost a percent, but the Bank Nifty witnessed weak movements as it fell 0.30 percent at 21,491.40. “The action is shifting from large caps to small caps.
Large indexes are consolidating in line with global market while mid and small caps continue to rally. A decisive move will depend upon the outcome of Q4 results and stability in global market.