The S&P BSE Sensex ended 689.76 points higher at 71,060.31, while the NSE Nifty50 rose 215.15 points at 21,453.95. The broader market indices also ended the session on a positive note, supported by the overall sentiments on Dalal Street.
Benchmark stock market indices ended the trading session on a positive note after starting the day on a weak note. This was supported by strong gains across heavyweight stocks.
The S&P BSE Sensex ended 689.76 points higher at 71,060.31, while the NSE Nifty50 rose 215.15 points at 21,453.95. The broader market indices also ended the session on a positive note, supported by the overall sentiments on Dalal Street.
All the Nifty sectoral indices ended the day in positive territory, with high-weightage IT stocks rising 1.5 per cent. However, Nifty Metal rose nearly 3 per cent and was the top gainer among the sectoral indices.
he top five gainers on the Nifty50 were Hindalco, Dr Reddy’s, IndusInd Bank, Tata Steel and HCLTech. On the other hand, the top five losers were ICICI Bank, Axis Bank, Asian Paints, Adani Ports and Hero MotoCorp.
Deven Mehata, research analyst at Choice Broking, said, “After a gap down opening, the Nifty traded erratic today, but managed to close near the day’s high above the strong support of 21,300 levels at 21,453.95 levels.”
Aditya Gaggar, Director of Progressive Shares, said, “Select heavyweight counters took the lead and helped the Nifty50 to recover from the lower levels, and in the last hour of trade, a sharp uptick across the board pushed the Index further higher to end the session at 21,453.95 with gains of 215.15 points.”
“Nifty50 has formed a piercing candlestick pattern which is bullish and as mentioned earlier, the Index has confirmed a reversal with a bullish cypher pattern coupled with a hidden bullish divergence in RSI. The immediate resistance is placed at 21,500 followed by 21,700 while the level of 21,200 will be considered as support,” he added.
Also read about India’s first automatic CNG vehicle is introduced by Tata Motors, with reservations starting at low Rs!
This article was originally published on Indiatoday
Reader Interactions