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Stock Market Highlights: Sensex surges 1,128 points, Nifty ends above 14,800


Stock Market Highlights: Sensex surges 1,128 points, Nifty ends above 14,800
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Nifty and Sensex jumped more than 2 per cent each to close above 14,800 and 50,000 level respectively on 30th March 2021. Metal and IT stocks outperformed.

At close, the Sensex was up 1,128 points or 2.30 per cent at 50,136.58 and Nifty was up 337.80 points or 2.33 per cent at 14,845.10.

About 1,529 shares have advanced, 1,386 shares declined and 197 shares remain unchanged.

On the Nifty 50 index, UPL (7.27 per cent), JSW Steel (5.00 per cent), Tata Steel (4.32 per cent), HDFC Bank (4.18 per cent), HCL Tech (3.89 per cent) were the top gainers for the day, while M&M (-0.54 per cent), Axis Bank (-0.41 per cent), Hindalco (-0.26 per cent), SBI Life Insurance (-0.21 per cent) and Bharti Airtel (-0.19 per cent) were the top and only losers for the day.

On the sectoral front, other than Nifty Realty (-0.03 per cent) all the other sectoral indices ended in the green. Nifty IT (2.90 per cent), Nifty Metal (2.79 per cent) and Nifty Pharma (2.72 per cent) were the top-performing sectors for the day.

The BSE Midcap and Smallcap indices gained 0.98 per cent and 1.30 per cent respectively.

Author’s View: According to the technical indicators the probability of Nifty breaking out above 14,900 is relatively high. Once this level is convincingly broken we may see a new lifetime high on Nifty.

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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