Nifty Closes Above 16,700, Sensex Gains 175 Points

Nifty Closes Above 16,700, Sensex Gains 175 Points

Nifty and Sensex closed in green, Midcap and Smallcap indices outperformed.

At close, the Sensex was up 175.61 points or 0.31 per cent at 56,124.72 and the Nifty was up 68.30 points or 0.41 per cent at 16,705.20.

About 1861 shares had advanced and 1260 shares had declined.

On the Nifty 50 index, Ultratech Cement (3.54 per cent), Hindalco (3.25 per cent), SBI Life Insurance (2.80 per cent), Larsen (2.65 per cent) and Dr. Reddy’s Labs (2.15 per cent) were the top gainers for the day, while IndusInd Bank (-1.13 per cent), Infosys (-1.09 per cent), M&M (-0.80 per cent), Tata Consumer Products (-0.63 per cent), Nestle (-0.48 per cent) were the top losers for the day.

On the sectoral front, all the sectoral indices ended in green.

The BSE Midcap and Smallcap indices gained 1.04 per cent and 0.93 per cent respectively.

Author’s View: Nifty should continue to hold above 16,700 to extend the move towards new lifetime high territory of 16,800 and 17,000. On the downside, support is seen at 16,500 and 16,380 levels.

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.

MumbaiLive would like to send you latest news updates