Closing Bell- Nifty reclaims 19800 levels, Sensex settles above 66590; Realty, Bank stocks surge
时间:2024-06-26 12:33:15 阅读(143)
The benchmark equity indices ended the week’s last trading session in the green with the help of Realty and Bank stocks. The NSE Nifty 50 gained 0.47% to settle at 19,819.95, while the BSE Sensex added 333.35 points to settle at 66,598.91. Bank Nifty added 0.62% to 45,156.40. The broader indices traded in green. Among the other sectors, the Nifty Realty index led the gains with a 2.12% surge, while Financial Services, Auto, and Bank stocks were other contributors to the gains, whereas FMCG, IT, Media, Metal, and Pharma stocks saw correction.
NTPC, Coal India, BPCL, Tata Motors, and Larsen & Toubro led the gains on the NSE Nifty 50 while the laggards included UPL, Eicher Motors, Apollo Hospitals, Ultratech Cement and SBI Life Insurance.
Commenting on today’s session, Vinod Nair, Head of Research, Geojit Financial Services said that, “The domestic market, however, showcased its resilience once more by rallying, seemingly unfazed by global distress signals. Although selling was seen in IT and pharma stocks due to weak global cues, the gains in infra, industrial, and capital goods stocks due to improved order inflows coupled with the persistent preference for mid- and small-cap stocks contributed to the ongoing rally.
Weekly RoundupFor the week, the Nifty closed with 1.97% gains and the Sensex saw 1.85% gain.
“Mid and small-cap indices continue to outperform the large-cap index. Macro sentiments remained volatile as frailties in European and US banks were under focus. Indian equity markets remained concerned about growth slowdown, higher interest rates and valuation even as inflation (especially food inflation) remains elevated both globally and domestically. FPI/FIIs were net sellers and DIIs were net buyer during the week. On the economy front, GST collections for July (collected in August) were 10.8% yYoY higher at Rs 159k crore (June: Rs 165k crore), ” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.
Nifty 50 technical ViewThe Nifty is just 200 points short of 20,000 mark. Can it breach the crucial level before the onset of the festivals season? Experts see scope for immediate rally to 19,900.
“Technically, after a promising reversal formation the Nifty has been holding a higher bottom formation and is comfortably trading above 50- and 20-day SMA (Simple Moving Average) which is largely positive. It has also formed a long bullish candle on weekly charts, which supports further uptrend from the current levels. For the trend following traders, 19,700 – 19,650 would be the key support levels and above the same it could rally till 19,900. Further upside may lift the market till 20,000. On the flip side, below 19,650, the uptrend would be vulnerable and could see a short term correction till the 50 day SMA or 19,550 – 19,500 levels,” said Amol Athawale, Vice President – Technical Research, Kotak Securities.
Bank Nifty outlookThe Bank Nifty has crossed the 50-day SMA (Simple Moving Average) after a long time which is largely positive.
Athawale added that, “It has also formed a higher bottom formation, which supports further uptrend. For the positional traders, 44,700 or 50 day SMA would be the sacrosanct support zone, above which, it could rally till 45,600 – 45,900. On the flip side, below 44,700 it could retest the level of 20 day SMA or 44,300 – 44,000.”
上一篇:Dalal Street ends in red on weekly F&O expiry session, Nifty support in 15600-15650 range
下一篇:Year-Ender 2023- AI applications to look out for, now and beyond
猜你喜欢
- Delhi simmers! Hot weather disrupts normal life in national capital – See in pics
- Share Market Highlights- Nifty settles above 19650, Sensex above 66000; Bank Nifty adds over 150 points
- Gold Price Today, 21 June 2022- MCX Gold may trade at Rs 50000-52000 for few sessions; support at Rs 50500
- Govt assures onion farmers there won’t be export ban impact; will buy 2 lakh tonne for buffer stock
- Delisting norms to become simpler- SEBI
- Gold Price Today, 9 September 2022- Gold gets costlier on fall in US Dollar; check MCX support, resistance
- Gold Price Today, 19 Sep’22- Gold falls despite positive global cues; US FOMC eyed, check support, resistance
- Gold Price Today, 3 Feb- Gold may be volatile, prices hit by profit-taking; traders eye US jobs data
- Share Market Highlights- Nifty closes below 18,570, Sensex tanks 200 pts; Bank Nifty ends flat, just shy of 44,000