Stock Market Highlights: Sensex jumps 1,197.11 points, ends above 49K

The benchmark indices closed in green. Both Nifty and Sensex ended more than 2 per cent strong and Bank Nifty was up by 3 per cent.

At close, the Sensex was up 1,197.11 points or 2.46 per cent at 49,797.72 and the Nifty was up 366.70 points or 2.57 per cent at 14,647.90. About 1727 shares have advanced, 1165 shares declined and 170 shares remain unchanged.

On the Nifty 50 index, Tata Motors (15.16 per cent), Shree Cement (7.70 per cent), SBI (7.21 per cent) and UltraTech Cement (6.60 per cent) were the top gainers, HDFC Life (-2.57), Bajaj Finserv(-2.53 per cent), Hero Motocorp (-1.40 per cent), Titan Company (-1.07 per cent) were the top losers for the day.

On the sectoral front, bank, auto and infra ended with 3-4 per cent gain. The BSE Midcap and Smallcap indices rose 1-2 per cent.

Author’s View: 13,750 is an important resistance on Nifty. Breakout from this level will extend Nifty’s movement till 15,000 level. On the downside 14,100 will act as a strong support. Fresh long positions can be initiated around this level.

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