Home Business Sensex, Nifty End Volatile Session On A Flat Note

Sensex, Nifty End Volatile Session On A Flat Note


Sensex, Nifty End Volatile Session On A Flat Note

The Indian equity benchmarks ended Monday’s volatile session on a flat note but managed to close higher after declining in the previous two sessions. The Sensex rose as much as 580 points at the day’s highest level and Nifty 50 index touched an intraday high of 15,111.15 and low of 14,919.90. Gains in Infosys, Larsen & Toubro, Reliance Industries, Axis Bank and State Bank of India were offset with losses in HDFC, HDFC Bank, Bajaj Finance and Hindustan Unilever.

The Sensex ended 36 points or 0.07 per cent higher at 50,441 and Nifty 50 index advanced 18 points or 0.12 per cent to close at 14,956.

“The market witnessed an attempt to break above the resistance level around the Nifty 50 Index level of 15,100. However, the market failed to hold on to that level and gave up its early gain to ended marginally positive for the day. The expected levels of the market are likely to be in the range of 14,900 and 15,250, and it’s going to be crucial for the short-term market scenario to sustain above the 14,900. The momentum indicators like RSI, MACD to further strengthen in favor of a positive outlook and advise the traders to consider a breakout above 15,250 as an opportunity to build fresh long positions,” Ashis Biswas, head of technical research at CapitalVia Global Research, said.

Six of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty PSU Bank index’s 1.6 per cent gain. Media, metal, IT, and pharma indexes also closed with a positive bias.

On the other hand, realty, FMCG, financial services and auto indexes closed lower.

Easy Trip Planners share sale via initial public offering (IPO) which opened for subscription at 10:00 am today was fully subscribed within couple of hours of opening. Easy Trip Planners shares were in huge demand among the retail investors as the portion reserved for them was subscribed over 4.5 times.

UPL was top Nifty gainer, the stock rose 7 per cent to Rs 633. GAIL India, Larsen & Toubro, ONGC, SBI Life, HCL Technologies, Indian Oil, Axis Bank, NTPC, State Bank of India, HDFC Life, Coal India and Infosys also rose 1.5-4.25 per cent.

On the flipside, IndusInd Bank, Shree Cements, Bajaj Finance, UltraTech Cement, Bajaj Auto, Bharti Airtel, Hindustan Unilever, Bajaj Finserv and Titan ended on a weak note.

The overall market breadth was positive as 1,731 shares ended higher while 1,413 ended lower on the BSE.

- Advertisment -

Most Popular