Nifty Closes Above 15,550, Sensex Jumps More Than 500 Points

Nifty Closes Above 15,550, Sensex Jumps More Than 500 Points

The benchmark indices traded with a positive momentum with Nifty hitting a fresh intraday high of 15,606.35 backed strong gains in metal, energy, realty and banking counters.

At close, the Sensex was up 514.56 points or 1 per cent at 51,937.44 and the Nifty was up 147.10 points or 0.95 per cent at 15,582.20.

About 1717 shares have advanced, 1449 shares declined and 187 shares remain unchanged.

On the Nifty 50 index, Reliance (3.13 per cent), ICICI Bank (3.06 per cent), JSW Steel (3.06 per cent), Dr. Reddy’s Labs (2.21 per cent) and Bharti Airtel (2.16 per cent) were the top gainers for the day, while M&M (-4.48 per cent), Adani Ports (-0.85 per cent), Infosys (-0.80 per cent), Larsen (-0.70 per cent) and IndusInd Bank (-0.62 per cent) were the top losers for the day.

On the sectoral front, except Nifty IT (-0.03 per cent), Nifty Auto (-0.18 per cent) and Nifty PSU Bank (-0.69 per cent) all the other sectoral indices ended in green. Nifty Metal (2.10 per cent), Nifty Energy (1.75 per cent) and Nifty Realty (1.37 per cent) were the top performing sectors for the day.

The BSE Midcap and Smallcap indices gained 0.45 per cent and 0.50 per cent respectively.

Author’s View: 15,375 – 15,300 is an important support zone for Nifty & till the time Nifty trades above this zone the trend for Nifty will remain bullish. Our next target on Nifty stands at 15,900 and any dip till 15,300 can be utilized as a buying opportunity.

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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