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| Edited By: Sachin Mampatta |Source: DNA |Updated: Mar 16, 2018, 05:03 AM IST
The markets exhibited some strength after a gap-down opening. The previous close was at 14,326.22 on the Sensex. The index opened on Tuesday with a gap down opening of nearly 180 points.
During the day’s climb, the Sensex had a high of 14,394.19 and finally ended only two points below its previous close, finishing at 14,324.01.
“There is some amount of positional unwinding which is happening ahead of the expiry on Thursday. The markets are likely to continue being influenced by it for the next couple of days,” said Manish Bandi, Vice-President at India Infoline.
Oil and Gas, Power and PSU were the sectoral indices to exhibit gains. Oil and Gas rose by 2.62%. The PSU and Power indices went up 2.11% and 1.31% respectively.
The Midcap index also ended mildly higher, rising by 0.24%.
The Nifty rose to 4247, a gain of eleven points.
Grasim, ONGC and Reliance were the top gainers of the day. Reliance was up 3.22%, ONGC was up 3.31% while Grasim headed the topper’s table with gains of 4.29%.
National Aluminium and ICICI Bank capped the other end of the spectrum. They lost 6.36% and 4.62% respectively. There were 20 advances compared to 30 declines.
The markets might not be done corrected yet, considering the run up it has already had.
“There might be some downside pressure in the markets which could continue for the next couple of months. But there is still a lot of money sitting on the sidelines,” said Manish Bandi.
