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FII & DII Sold But Retailers brought at lower levels

The market saw a smart recovery in late trade and closed in the positive with huge volumes. The recovery was led by outperformance in FMCG and metal stocks while the telecom stocks tanked (Bharti and RCom almost 10%) today. Sensex shut shop at 16958, up 92 points and Nifty at 5027, up 24 points from the previous close. CNX Midcap index was up 0.25% and BSE Smallcap index was down 0.72%. The market breadth was negative with advances at 419 against declines of 848 on the NSE. Top Nifty gainers included Hindalco, ITC and HUL while losers were Bharti Airtel, Idea Cellular and Reliance Communications.