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Markets Flat, Energy Bounced Back

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We can see a lackluster movement in the markets where so far. Markets opened on a flat note saw some slight upside down and are continue to be flat. Nifty is still hovering around 8580-8590 levels while SENSEX is 28300 with 0.03% gains.

Asian markets again edged lower today tracking weekly losses and on the back of lower U.S. markets where the employment data was released that is likely to direct the decision of Federal Reserve on interest rate hike.

Broader markets again bounce back after a day’s breather where both Smallcap and Midcap outperform the benchmark indices with 0.36% and 0.27% losses. Market Breadth too is positive with 1389 Advances and 908 Declines.

PSU Bank is the top losers with 1.26% losses. Energy is the top gainer with 1.1% gains. All other sectors are either marginally up or down.

Vedanta, ONGC and Reliance are the top gainers while BOB, SBIN and Coal India are the top losers for the Nifty. Vedanta surges 2% plus on hopes of restarting its mining of iron ore in Goa.

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