Nifty & Sensex Close Near Day's High, PSU Stocks Outperform

Nifty & Sensex Close Near Day's High, PSU Stocks Outperform

After a gap down opening backed by weak global cues the benchmark indices eared all losses to close in green. PSU banking stocks outperformed.

At close, the BSE Sensex gained 230 points or 0.44 per cent to end at 52,574.46, while the Nifty rose 63 points or 0.40 per cent to settle at 15,746.50.

About 1987 shares advanced and 1242 shares declined.

On the Nifty 50 index, Adani Ports (5.29 per cent), NTPC (3.92 per cent), Titan Company (1.84 per cent), SBI (1.66 per cent) and HDFC Life (1.35 per cent) were the top gainers for the day, while UPL (-4.43 per cent), Wipro (-1.39 per cent), Hindalco (-1.01 per cent), Tata Motors (-0.92 per cent) and Maruti Suzuki (-0.85 per cent) were the top losers for the day.

On the sectoral front, except Nifty IT (-0.28 per cent) and Nifty Auto (-0.41 per cent) all other sectoral indices ended in green. Nifty PSU Bank (4.11 per cent), Nifty Realty (2.33 per cent) and Nifty Metal (1.12 per cent) were the top performing sectors for the day.

The BSE Midcap and Smallcap indices were up 0.82 per cent and 0.83 per cent respectively.

Author’s View: We have seen a sharp rally in Nifty which has gone past 15,650 – 15,700 on a closing basis. This rally has negated the short term weakness of the market and might take Nifty to 16,000 – 16,100 level. Traders should look for buying opportunities.

Disclaimer:  The view/s expressed above are only for educational/awareness purpose. 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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