While commenting on the market performance on Thursday, Alex Mathew head, research centre – Geojit BNP Paribas Financial Services stated that the stock markets opened positively owing to strong and supporting signs coming in from the worldwide markets but slipped into the volatile zone immediately and remained the same throughout the day with the stock indices moving up during the second half and ended the day on a high note. 

Mr. Mathew said that the major indication, which assisted the US markets to rally the other day, was the media statement that the stress test undergone by the banking institutions have come up with outcomes that the capital sufficiency is not as much as projected. 

The European markets remained in the positive terrain as it was anticipating the ECB to slash interest rates and BoE to leave the interest rate unaltered. 

This aided Sensex to rally during the second half even though it declined during the morning session after the opening surge. 

At last, the stock markets came to a close with Sensex up 1.37% and Nifty closing after making a gain of 1.62%. 

On the sectorial front, Metal was the major gainer, which gained 8.22%, Consumer Durable increased 3.72%, Realty surged 1.9%, Bankex increased 1.85% and Healthcare was up by 1.74%.

On the other hand, the major Nifty gainers included Sterlite, which gained 13.27%, Hindalco up 10.89%, TISCO up 8.74%, SAIL up 7.54% and Cairn up 6.79% while those on the losers` side were Ambuja down 3%, M&M down 2.86%, ACC down 2.75%, BPCL down 1.86% and HUL down 1.68%. 

Mr. Alex suggested that Nifty has a major support at 3,615 where the resistance is at 3,700 and 3,720 levels.

He added that if there is a rally, then investors may witness good movement in Maruti, Siemens, Reliance Infra and L&T.