Sensex Reclaims 40,000, Nifty Firm Above 11,800: 10 Things To Know
- As of 1:32 pm, the Sensex traded 264 points or 0.66 per cent higher at 40,097Â and the Nifty 50 index was up 0.59 per cent or 69 points at 11,856.
- Five of 11 sector gauges compiled by National Stock Exchange were trading higher led by the Nifty PSU Bank index's 1.7 per cent gain.
- Nifty IT, Nifty FMCG, Nifty Financial Services and Nifty Bank indices also rose over 0.5 per cent each.
- On the other hand, Nifty Auto index was top loser, down 0.7 per cent.
- Mid- and small-cap shares were also witnessing buying interest as the Nifty Midcap 100 and Nifty Smallcap 100 indices rose around 0.6 per cent each.
- "Since last few days, the Nifty has been struggling to surpass the sturdy wall of 11,700 and yesterday finally, Nifty managed to see a decisive price action beyond this crucial hurdle. Undoubtedly, it was evident to have such intraday rally after crossing 11,700 and within no time, we hastened towards the next psychological junction of 11,800," Sameet Chavan, chief analyst- technical and derivatives at Angel Broking said in a note to clients.
- "Our recent anticipation of breaking above 11,700 has turned into a reality and hence we remain sanguine for the next immediate level of 11,900 first and then a march towards 12,000 is very much on cards now. In case of any dip towards 11,750 - 11,700, without hesitating much, one should construe this as a very good buying opportunity as we expect the previous resistance to now act as a sheet anchor for the index," Mr Chavan added.
- Bharti Infratel was top gainer in the Nifty 50 basket of shares, the stock rose 3.2 per cent to Rs 199.25. Bharti Airtel, Infosys, ITC, Zee Entertainment, Indian Oil, Larsen & Toubro, Wipro and Nestle India were also among the gainers.
- On the flipside, Coal India, ICICI Bank, Tata Motors, UPL, Cipla, Maruti Suzuki, Bajaj Finance and Tata Steel were among the losers.
- The overall market breadth was positive as 1,056 shares were advancing while 631 were declining on the National Stock Exchange.
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