The Indian benchmarks ended the day on a positive note on December 6, 2013 .Overall activity again went dry in a big way after action full day yesterday. Volumes took a dive ahead of the election results on Sunday as most players waited on sidelines. Nonetheless the positive bias in markets was visible today also as Nifty witnessed buying at every slide. Some big buying emerged towards close on better volumes as some players were seen taking positions home to play the event. Despite such large outperformance yesterday, Bank Nifty continued the trend today also. Bank Nifty closed at the highest level in 5 months with this time PSU banks taking the lead. OBC moved above 200DMA after breaking down in Mar'13. Similarly beta flavor across board remained intact & defensives were continued to be shunned. Yesterdays main market buying started percolating to side markets today with BSE Midcap & smallcap outperforming Nifty. Nifty volatility inched up marginally to 24% from 23% ahead of election results. Axis Bank continued momentum after having broken above200DMA yesterday. The sensex closed up 38.72 points at 20996.53 while Nifty closed at 6259.90 up 18.80 points.
Further, the market breadth closed positive as nine stocks were seen advancing against eight declining stocks.
Further, the market breadth closed positive as nine stocks were seen advancing against eight declining stocks.
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