The Indian benchmarks ended the day on a firm note on October 29, 2013. Yesterday’s buying momentum continued with Banks again taking the lead in the opening session while Pharma helped. Bharti showed strong rally breaking to 10 months high on back of strong results. Nifty surged to highest level since Nov '10 however selling witnessed in Banks towards close dragged markets down. IT continued to remain a laggard since past few weeks. Wipro dropped to support of 50DMA. Marking a blockbuster rally, the Sensex ended up 104.96 points at 21033.97. The Nifty ended at 6251.70, up 30.80 points. Buying was seen in side markets too but midcap underperformed for forth day in row. Rolls came under small pressure today as some section started rolling shorts. Nifty rolls softened to +45 points from +53 points before again recovering to +50 points towards close. Nonetheless rolls continue to remain on higher end of historical range. Ranbaxy opened 6% lower on back of weak results but rallied 8% from lows on strong volumes again recovering back to 200DMA.
Further, the market breadth closed slightly positive as eleven stocks were seen advancing against ten declining stocks.
Further, the market breadth closed slightly positive as eleven stocks were seen advancing against ten declining stocks.
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