0

0

0

0

0

0

0

0

0

This article is more than 11 month old.

Closing Bell: Sensex ends 143 points higher, Nifty above 11,650; banks outperform

Mini

The Indian benchmark equity indices, Sensex and Nifty ended Monday’s volatile session higher led by robust gains in banking and financial stocks. The Sensex ended 143.51 points or 0.36 percent higher at 39,757.58 while the Nifty gained 26.75 points or 0.23 percent to close at 11,669.15.

Closing Bell: Sensex ends 143 points higher, Nifty above 11,650; banks outperform
The Indian benchmark equity indices, Sensex and Nifty ended Monday’s volatile session higher led by robust gains in banking and financial stocks.
The Sensex ended 143.51 points or 0.36 percent higher at 39,757.58 while the Nifty gained 26.75 points or 0.23 percent to close at 11,669.15.
Broader indices ended mixed as the Nifty Smallcap100 slipped over 1 percent while the Nifty Midcap100 ending higher.
Among sectors, Nifty Private Bank gained the most over 4 percent followed by Nifty Realty, Nifty PSU Bank and Nifty Financial Services which rallied over 3 percent each while Nifty Pharma, Nifty IT, Nifty Metal and Nifty Auto ended in the red.
"11,700-11,750 should act as stiff resistance for the Nifty. If we can get past that, there is a chance we resume the upward trajectory of the market and nullify the downside target of 11,400. As long as we are below 11,700, the markets are in bearish terrain. On the upside, if we get past 11,750 on a closing basis, we cannot rule out the Nifty reclaiming the level of 12,000 and above, said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
IndusInd Bank, ICICI Bank, Axis Bank, HDFC and Bharti Airtel led gains among Nifty50 constituents while Reliance Industries, Divi's Labs, Eicher Motors, HCL Technologies and TCS were the top index losers.
Index heavyweight Reliance Industries recorded its biggest one-day fall in over 7 months, plunging 8 percent after the company reported its September quarter results.
IndusInd Bank share price surged 6 percent as most brokerages remained bullish and management gave a positive commentary on the lender despite its poor performance in the September quarter.
Globally, shares recovered from one-month lows on Monday as upbeat Chinese data offset new lockdowns in Europe, while investors prepared for more volatility arising from the US presidential election, Reuters reported.
MSCI world equity index, which tracks shares in 49 countries, rose 0.2 percent, following a strong performance in Asia after data showed Chinese factory activity expanded at its fastest pace in a decade.
(Disclosure:
Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
next story