Sensex closed above 50,000 level and Nifty closed above 14,850 level. Metal stocks outperformed.
The Sensex closed the day at 50,029.83, up 520.68 points, or 1.05 per cent while the Nifty was at 14,867.35, up 176.65 points or 1.20 per cent.
On the Nifty 50 index, JSW Steel (8.60 per cent), Hindalco (7.16 per cent), Tata Steel (6.31 [per cent), Adani Ports (4.82 per cent) and Indusind Bank (4.07 per cent) were the top gainers for the day, while HUL (-1.33 per cent), HDFC Life (-0.75 per cent), Nestle (-0.48 per cent), HDFC Bank (-0.46), TCS (-0.40 per cent) were the top losers for the day.
On the sectoral front, other than Nifty FMCG (-0.16 per cent) all other sectoral indices ended in green. The Nifty Metal outperformed the benchmark indices by gaining more than 5.33 per cent.
The BSE Midcap and Smallcap indices were up 1.33 per cent and 2.05 per cent respectively.
Author’s View: Once again the Index has nudged closer to the important level of 14,950. If we can cross 14,950, we should be able to resume the uptrend and head towards 15,300.
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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