The benchmark indices closed at lifetime high as RBI keeps the Repo rate unchanged.
Sensex was up 446.90 points (1 per cent) and Nifty rose 124.60 points (0.95 per cent). The rally was led by Metal & Banking shares.
About 1483 shares have advanced, 1178 shares declined and 138 shares are unchanged.
On the sectoral front, Nifty Bank (2.05 per cent), Nifty Pharma (1.20 per cent) and Nifty Metal (1.13 per cent) outperformed, whereas Nifty Energy (-0.10 per cent) witnessed selling pressure and closed flat. All other sectors ended with minor gains.
On Nifty index Hindalco (4.42 per cent), ICICI Bank (4.19 per cent), Adani Ports (4.11 per cent) and UltraTech Cement (4.04 per cent) were the top gainers for the day, while Reliance (-0.88 per cent), HDFC Life (-0.73 per cent), Bajaj Finserv (-0.68 per cent) and HCL Tech (-0.43 per cent) were top losers for the day.
Author’s View: 30,000 level was a huge option barrier for Bank Nifty as it had an open interest of 7.5 lac shares. However, today Bank Nifty crossed & closed above the 30,000 level, as a result of which we might see a short-covering in the Bank Nifty. This may lead to a further upside in the Bank Nifty index towards the level of 30,500.
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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