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The Benchmark Indices Close Near Day's High, Banking And Finance Stock Outperformed


The Benchmark Indices Close Near Day's High, Banking And Finance Stock Outperformed
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Benchmark indices ended higher for third consecutive session with Nifty above 14,850 and Sensex above 49,500. Banking and Financial stocks outperformed.

At close, the Sensex was up 789.70 points 1.61 per cent at 49,733.84 and the Nifty was up 211.50 points or 1.44 per cent at 14,864.50.

About 1730 shares have advanced, 1180 shares declined and 170 shares remain unchanged.

On the Nifty 50 index, Bajaj Finance (8.55 per cent), Eicher Motors (5.05 per cent), Indusind Bank (5.04 per cent), Bajaj Finserv (3.94 per cent) and ICICI Bank (3.77 per cent) were the top gainers for the day, while Britannia (-1.76 per cent), Hindalco (-1.00 per cent), HDFC Life (-0.91 per cent), Nestle (-0.87 per cent) and BPCL (0.68 per cent) were the top loser for the day.

On the sectoral front, other than Metal (-0.30 per cent), Pharma (-0.33 per cent) and Realty (-0.59 per cent) indices, all other sectoral indices ended in green. Nifty Bank (3.02 per cent) outperformed the benchmark indices to become the top performing sector for the day.

The BSE Midcap and Smallcap indices gained 0.99 per cent and 0.71 per cent respectively.

Author’s View: 14,900 will act as resistance for Nifty. If Nifty closes above 14,900 then we may see a continuation in the bull rally till 15,200 level. Fresh long position should only be initiated if Nifty successfully closes above 14,900.

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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