Today the market saw a great recovery in the last hour. Nifty improved 232 points from the bottom and closed at 15,700 level. The Sensex also closed near 52,350 with a correction of 750 points from the bottom. Along with this, a correction of 650 points was recorded from the bottom in Nifty Bank. In today’s session, good selling was seen in metal, realty and auto stocks. While there was record buying in FMCG shares.
Midcap and smallcap stocks were also under pressure today. Metal, realty, auto stocks were selling. PSE and energy stocks declined. At the same time, there was buying in FMCG shares. Sensex climbed 21 points to close at 52,344. At the same time, Nifty fell 8 points to close at 15,683. Nifty Bank closed 47 points lower at 34,558. While the midcap fell 280 points to close at 26,496. 33 out of 50 Nifty stocks declined. At the same time, 20 out of 30 Sensex stocks fell. 10 out of 12 stocks of Nifty Bank declined.
Rupee also showed strength in today’s trade. The rupee today strengthened by 22 paise to close at 73.86 against 74.08 against the dollar. Today, except FMCG, all the indices closed in the red. Energy and PSU Bank indices have slipped 1-2 per cent.
Ashis Biswas of CapitalVia Global Research Giving his opinion on the market, said that the market saw a slowdown today and it tried to hold the support level of 15600 and got success in it. The market expects the 15,600 level to act as support for the Nifty. Technical indicators are also indicating sideways correction in the market. We may see a sideways correction in a few more trading sessions before the market turns upside down once again.
Talking about this whole week, Nifty and Sensex have seen a decline of 0.7 percent and 0.2 percent this week.
ONGC, Coal India, NTPC, UPL and JSW Steel were the biggest losers of Nifty today. At the same time, Adani Ports, HUL, Bajaj Auto, Bharti Airtel and Grasim Industries were the top gainers today.
Metal, power and oil & gas indices fell by 1.7-2.7 per cent on BSE today. At the same time, the FMCG index has closed in the green mark.
Talking about individual stocks, Nalco, Dr. Lal PathLabs and Divis Lab saw an increase of over 300 per cent in volumes.
There was a long buildup in Mphasis, Sun TV Network and Cadila Healthcare. At the same time, there was a short buildup in ONGC, Divis Lab and Nestle.
A new 52-week high was seen in more than 350 stocks on BSE today. This includes Parsvnath Developers, Infosys, Marico and Khadim India.
Chandan Tapdia of Moti Lala Oswal It says that Nifty has formed a bearish candle on the daily scale but the presence of long lower shadows indicates that buying has taken place on every downtrend. Nifty will have to stay above 15,600 to move into the 15,800 -15,900 zone. At the same time, on the downside, support is visible in the zone of 15,500 -15,450.
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