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Indices Close Near Day's High, Backed By Metal, Auto And IT Counters


Indices Close Near Day's High, Backed By Metal, Auto And IT Counters
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The benchmark indices closed on a positive note on 06th May 2021 with Nifty scaling above 14,700 level and the Sensex shooting up over 250 points backed by gains in Metal, IT and Auto stocks.

At close, the Sensex was up 272.21 points or 0.56 per cent at 48,949.76 and the Nifty was up 106.90 points or 0.57 per cent at 14,724.80.

On the Nifty 50 index, Hindalco (5.13 per cent), Hero Motocorp (4.49 per cent), Wipro (4.42 per cent), Tata Motors (3.34 per cent) and Eicher Motors (2.99 per cent) were the top gainers for the day, while Power Grid Corp (-1.28 per cent), UPL (-1.20 per cent), NTPC (-0.82 per cent), Bajaj Finserv (-0.78 per cent) and ONGC (-0.77 per cent) were the top losers for the day.

On the sectoral front, except Nifty Pharma and Nifty PSU Bank indices all other sectoral indices ended in green. Nifty Metal (2.51 per cent), Nifty IT (1.83 per cent) and Nifty Auto (1.78 per cent) were the top performing sectors for the day.

The BSE Midcap and Smallcap indices gained 0.91 per cent and 0.59 per cent respectively.

Author’s View: Nifty is reaching its strong hurdle zone of 14,800 – 14,900. Once this level is breached and Nifty can scale up to 15,100 – 15,200.

Disclaimer: The view/s expressed above are only for educational/awareness purpose. Mumbailive.com or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.

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