Sensex and Nifty settled higher in a volatile trade today.
New Delhi:
India’s equity benchmarks closed in the green but below their highs on Thursday. After starting the day on a strong note, domestic indexes gave up most of their gains in late trade, dragging in banking, consumer goods and pharmaceutical stocks.
The 30-stock BSE Sensex rose 33 points or 0.06% to close at 55,702, while the broader NSE Nifty rose 5 points or 0.03% higher to close at 16.683. Sensex scored 953 before hitting a little higher. However, both indexes fell for three consecutive days.
Mid- and small-cap stocks ended mixed as the Nifty Midcap 100 index inched up 0.10% and the small-cap group fell 0.75%.
Five of the 15 industry gauges – compiled by the National Stock Exchange – closed in the green. The Nifty IT, Nifty Metal, and Nifty Auto sub-stats outperformed this one by falling 2.07%, 0.62%, and 0.42%, respectively. Nifty PSU Bank, Nifty FMCG and Nifty Pharma underperform this index.
In terms of specific shares, Tech Mahindra is the top Nifty bully as the shares rose 4.22% to Rs 1,264. Hero MotoCorp, Infosys, HCL Tech and Tata Steel were also among the gainers.
Market breadth was low as 1,522 stocks gained while 1,817 stocks declined on BSE.
On the 30-stock BSE index, TechM, Infy, HCL Tech, Wipro, Tata Steel, Kotak Mahindra Bank, TCS and ITC are among the top gainers.
In contrast, IndusInd Bank, Nestle India, UltraTech Cement, Sun Pharma, Reliance Industries, PowerGrid, Bajaj Finserv, Titan and Asian Paints were in the red.
Technical view: “Nifty’s short-term sentiment remains negative. Resistance for Nifty50 is at 16,950, below it is still negative. Mid-term trend support for the index is at 15,500. Picking energy stocks trades with bias is positive while cement stocks are expected to remain under pressure,” said Sahaj Agrawal, Head of Research – Derivatives at Kotak Securities.
