The benchmark indices ended near day’s high. Nifty closes above 14,900 and the Sensex gaining 848 points backed by Finance, Metal and Auto Stocks.
At close, the Sensex was up 848.18 points or 1.74 per cent at 49,580.73 and the Nifty was up 245.40 points or 1.67 per cent at 14,923.20.
About 2047 shares have advanced, 1024 shares declined and 215 shares remain unchanged.
On the Nifty 50 index, IndusInd Bank (7.36 per cent), SBI (6.28 per cent), ICICI Bank (4.40 per cent), HDFC Bank (3.85 per cent) and UPL (3.69 per cent) were the top gainers for the day, while Cipla (-2.53 per cent), Larsen (-2.03 per cent), Bharti Airtel (-1.92 per cent), SBI Life Insurance (-1.51 per cent) and Nestle (-1.08 per cent) were the top losers for the day.
On the sectoral front, except Nifty Pharma (-0.19 per cent) all other sectoral indices ended in green. Nifty Bank (4.01 per cent), Nifty Metal (2.29 per cent) and Nifty Auto (1.95 per cent) were the top performing sectors for the day.
The BSE Midcap and Smallcap indices gained 1.63 per cent and 1.61 per cent respectively.
Author’s View: Nifty broke and closed above its resistance at 14,850 level and this a bullish sign for the index. Strong support lies at 14,700 and index would turn bearish if we break this level on losing basis. If the current momentum remains intact we can see 15,000 and 15,200 levels on Nifty in one or two trading sessions.
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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