Benchmarks extended the pull-back rally and ended above psychological resistance levels taking support from positive Europe markets. Buying continued in the midcaps space and the broader markets outperformed frontline stocks.
Market turned choppy after a positive start due to subdued Asian peers. It slipped in the red due lack of buying conviction amongst investors. However, the European markets triggered the upmove and the rally was led by realty, metals and power stocks.
Bombay Stock Exchange’s Sensex closed at 19691.78, up 182.89 points or 0.94 per cent. The index touched a high of 19710.57 and low of 19321.41 in today’s trade.
National Stock Exchange’s Nifty ended at 5907.65, up 50.30 points or 0.86 per cent. The index touched a high of 5913.80 and low of 5795.90 intraday.
“At present, the weekly trend is still up and as long as 18955 / 5690 holds. The bias would be on the positive side. Further, the Piercing candlestick formation on the Daily charts suggests continuation of the up-side momentum that was seen on Friday.
The immediate resistance for the indices is at 19537 – 19771 / 5870 – 5930 levels. Any close above 19771 / 5930 levels could lead the indices to retest 19981 – 20131 / 6000 – 6050 levels,” said Angel Broking report.
BSE Midcap Index moved 1.77 per cent higher and BSE Smallcap Index advanced 2.05 per cent.
All the sectoral indices barring FMCG space ended in the green. BSE Realty Index was up 2.79 per cent, BSE Metal Index moved 2.10 per cent higher and BSE Power Index rose 2.09 per cent. BSE FMCG Index ended 0.13 per cent lower.
Reliance Infrastructure (3.88%), HDFC (3.60%), Hindalco (3.14%), DLF (2.81%) and BHEL (2.73%) were amongst the top Sensex gainers.
Reliance Infrastructure is in the process of consolidating its road projects assets, which involve an investment of Rs. 12,000 crore, into a holding company to pave way for a potential IPO or private equity investment in the entity in the future.
The company is consolidating 11 road projects, which the Anil Dhirubhai Ambani Group is setting up under the public-private partnership model, under subsidiary Reliance Roads.
ITC (-1.68%), M&M (-1.25%), Hero Honda (-0.67%), Wipro (-0.36%), and TCS (-0.04%) were amongst the major losers.
Market breadth was positive on the BSE with 1969 advances against 880 declines.
While the European markets were in the gree, stock futures indicated a flat start on the Wall Street. At 4:55 pm IST , Dow Jones futures was up 0.05 per cent, S&P 500 declined 0.02 per cent and Nasdaq moved 0.01 per cent higher.
Market turned choppy after a positive start due to subdued Asian peers. It slipped in the red due lack of buying conviction amongst investors. However, the European markets triggered the upmove and the rally was led by realty, metals and power stocks.
Bombay Stock Exchange’s Sensex closed at 19691.78, up 182.89 points or 0.94 per cent. The index touched a high of 19710.57 and low of 19321.41 in today’s trade.
National Stock Exchange’s Nifty ended at 5907.65, up 50.30 points or 0.86 per cent. The index touched a high of 5913.80 and low of 5795.90 intraday.
“At present, the weekly trend is still up and as long as 18955 / 5690 holds. The bias would be on the positive side. Further, the Piercing candlestick formation on the Daily charts suggests continuation of the up-side momentum that was seen on Friday.
The immediate resistance for the indices is at 19537 – 19771 / 5870 – 5930 levels. Any close above 19771 / 5930 levels could lead the indices to retest 19981 – 20131 / 6000 – 6050 levels,” said Angel Broking report.
BSE Midcap Index moved 1.77 per cent higher and BSE Smallcap Index advanced 2.05 per cent.
All the sectoral indices barring FMCG space ended in the green. BSE Realty Index was up 2.79 per cent, BSE Metal Index moved 2.10 per cent higher and BSE Power Index rose 2.09 per cent. BSE FMCG Index ended 0.13 per cent lower.
Reliance Infrastructure (3.88%), HDFC (3.60%), Hindalco (3.14%), DLF (2.81%) and BHEL (2.73%) were amongst the top Sensex gainers.
Reliance Infrastructure is in the process of consolidating its road projects assets, which involve an investment of Rs. 12,000 crore, into a holding company to pave way for a potential IPO or private equity investment in the entity in the future.
The company is consolidating 11 road projects, which the Anil Dhirubhai Ambani Group is setting up under the public-private partnership model, under subsidiary Reliance Roads.
ITC (-1.68%), M&M (-1.25%), Hero Honda (-0.67%), Wipro (-0.36%), and TCS (-0.04%) were amongst the major losers.
Market breadth was positive on the BSE with 1969 advances against 880 declines.
While the European markets were in the gree, stock futures indicated a flat start on the Wall Street. At 4:55 pm IST , Dow Jones futures was up 0.05 per cent, S&P 500 declined 0.02 per cent and Nasdaq moved 0.01 per cent higher.
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