By Aditya Raghunath
Nifty is staying close to the 16,300 mark. The movements are similar to what the Nifty went through in June and July, consistently coming close to 16,000 but unable to cross it.
Massive buying in metal stocks got the markets up. Top Nifty gainers were Tata Steel Ltd (NS: TISC ) with 4%, JSW Steel Ltd (NS: JSTL ) at 3.48%, Indian Oil Corporation Ltd (NS: IOC ) at 2.49%, NTPC Ltd (NS: NTPC ) with 2.4% and Hindalco Industries Ltd. (NS: HALC ) that closed up 2.24%.
Banks took a hit today with Kotak Mahindra Bank Ltd. (NS: KTKM ) and ICICI Bank Ltd (NS: ICBK ) losing 1.86% and 1.01% respectively while Nifty Bank closed down 0.63%. Shree Cements Ltd. (NS: SHCM ) lost 2.09% and Sun Pharmaceutical Industries Ltd. (NS: SUN ) ended lower 1.78%.
US stocks are set to open marginally lower, falling back from record highs ahead of key inflation data and as the second-quarter earnings season continues.
Crude oil has fallen below $68 levels again.
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