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Market ends session with minor gains, Reliance, TCS among top gainers

Market ends session with minor gains, Reliance, TCS among top gainers

Market ends session with minor gains, Reliance, TCS among top gainers
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By Sudarshan Kumar  Jul 6, 2018 4:15:19 PM IST (Published)

For the week, the Nifty gained 0.5%, the Sensex gained 0.7%, the Nifty Bank index gained 0.5% and the Nifty Midcap index gained 0.2%. 

The Indian market slipped from highs to close mildly in the green. The Nifty advanced 23 points to close at 10,773 with Reliance, TCS and L&T ending the session as the top gainers.

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Reliance reversed Thursday's  losses to close above its 50-day moving average of Rs 967 per share. Gains were checked by HDFC twins, Infosys and ICICI Bank.
The benchmark Sensex advanced 83 points to 35,658. In broader markets, the Nifty Midcap index edged higher by 94 points to end the session at 18,222 while the Nifty Bank index closed flat at 26,494 points.
Most auto stocks also closed higher. Ashok Leyland gained nearly 6% after Kotak securities upgraded the stock to a "buy" rating. Tata Motors and Tata Motors reversed yesterday’s losses to end with a jump of 2-4%. Bajaj Auto slipped from highs in the last hour of trade, but managed to close 1.5% higher.
Broad-based gains kept market breadth in favour of advances with advance-decline ratio at 4:3, meaning four stocks saw gains against three stocks declining.
For the week, the Nifty gained 0.5%, the Sensex gained 0.7%, the Nifty Bank index gained 0.5% and the Nifty Midcap index gained 0.2%.
In the futures market, Nifty 10,700 Put call added a little more than six lakh shares in the open interest with premium slipping 11%. Amongst call options, Nifty 10,800 saw a major traction, with the option adding more than three lakh shares in the open interest with premium surging 6%. Nifty July Futures premium closed with a premium one point against Thursday’s level of 2 points.
On the global front, Asian stocks bounced back to recover on the last trading day of the week, with most markets finishing the session higher.
After losses earlier in the day, China markets sprung back slightly, with the benchmark Shanghai composite up 0.5% to close at 2,746. The smaller Shenzhen composite also recovered slightly, rising 0.5%, while Hong Kong's Hang Seng Index was up 0.5% to close at 28,314.
The Nikkei 225 rose 1.1% to close at 21,788 as most sectors rebounded after the benchmark's three consecutive sessions of declines.
South Korea's Kospi rose 0.7% and in Australia, the S&P/ASX 200 added 0.9% to close at 6,272, owing in part to convincing gains in the materials and telecommunications sectors.
 
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