Nifty Closes Above 16,550 & Sensex Gains 145 Points

Nifty Closes Above 16,550 & Sensex Gains 145 Points

Nifty and Sensex ended on a positive note supported by metal and oil & gas stocks.

At close, the Sensex was up 145.29 points or 0.26 per cent at 55,582.58 and Nifty was up 33.90 points or 0.21 per cent at 16,563.

About 1146 shares have advanced, 2068 shares declined and 136 shares remain unchanged.

On the Nifty 50 index, Tata Steel (3.95 per cent), Bajaj Finance (3.58 per cent), M&M (2.65 per cent), IOC (2.44 per cent) and Britannia (2.12 per cent) were the top gainers for the day, while Maruti Suzuki (-2.50 per cent), Shree Cements (-2.34 per cent), Power Grid Corp (-2.19 per cent), Bajaj Auto (-2.02 per cent) and Eicher Motors (-2.00 per cent) were the top losers for the day.

On the sectoral front, Nifty metal added over 1 percent, while selling was seen in the auto, bank, pharma and IT stocks.

The BSE Midcap and Smallcap indices lost 0.18 per cent and 0.57 per cent respectively.

Author’s View: The market shows that it is going to be crucial for the short-term market scenario to sustain above the 16500 level. Traders should refrain from building a new buying position until further improvement is seen in the market breadth.

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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