Market started the week on a positive note with Nifty closing near 14,500. Metal and Bank stocks outperform.
At close, the Sensex was up 508.06 points or 1.06 per cent at 48,386.51, and the Nifty was up 143.60 points or 1.00 per cent at 14,485.
About 1841 shares advanced, 1094 shares declined and 216 shares are unchanged.
On the Nifty 50 index, Axis Bank (4.33 per cent), ICICI Bank (3.71 per cent), Ultratech Cement (3.43 per cent), JSW Steel (3.21 per cent) and Grasim (2.68 per cent) were the top gainers for the day, while Cipla (-3.23 per cent), Britannia (-3.04 per cent), HCL Tech (-2.81 per cent), BPCL (-0.98 per cent) and HDFC Bank (-0.66 per cent) were the top losers for the day.
On the sectoral front, other that Nifty Pharma (-0.87 per cent), all the other sectoral indices ended in green led by Nifty Metal (2.01 per cent) and Nifty Bank (1.74 per cent).
The BSE Midcap and Smallcap indices gained (0.60 per cent) and (0.88 per cent) respectively.
Author’s View: The Nifty was unable to cross 14,500 – 14,700 zone. If Nifty break’s out above 14,700 the trend will turn to bullish. On the other hand 14,150 – 14,200 is strong support.
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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