The benchmark indices closed in green led by PSU Bank and Auto shares on the first trading day of 2021.
At close, the BSE Sensex was up 117.65 points or 0.25 per cent at 47,868.98 and the Nifty was up 36.70 points or 0.26 per cent at 14,018.50. The BSE Midcap and Smallcap indices rose 0.90 per cent and 1.20 per cent respectively.
About 1998 shares have advanced, 940 shares declined and 163 shares remain unchanged.
On Nifty 50 index Adani Port (4.16 per cent), ITC (2.32 per cent), TCS (2.39 per cent) and M&M (1.64 per cent) were the top gainers for the day, whereas ICICI Bank (-1.41 per cent), SBI Life Insurance (-0.98 per cent), Hindalco (-0.91 per cent) and HDFC Bank (-0.78 per cent) were the top losers for the day.
On the sectoral front, all the major sectoral indices ended in green other than Nifty Bank.
Author’s View: Nifty successfully closed above 14,000 level. The index looks strong at this level and long positions can be initiated for the target of 14,075 – 14,100 level. Bank Nifty is currently trading below 31,500 level, fresh buy in Bank Nifty should be initiated after the index crosses 31,500 level.