After hitting new all-time highs on Friday morning, Sensex and Nifty reduced some lead but managed to close the day’s trade in positive territory. S&P BSE Sensex was at 52,474 at the close while the Nifty 50 Index was at 15,799 – the highest closing levels for both indices. Among the main winners were Dr Reddy’s, Power Grid, TCS, HCL Tech and Infosys. Among the late arrivals were Larsen & Toubro, IndusInd Bank, Bajaj Finserv, Bharti Airtel and ICICI Bank. The Nifty Bank index closed in the red. The volatility index continued to decline, ending the day down 6%. The larger markets mirrored the uptrend and closed in green.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities –
“After showing a lasting upward rebound on Thursday, Nifty moved into a follow-up bullish move on Friday amid beach-related action and closed the day 61 points higher. The short-term uptrend s The market continued after a day of recent lows. Although the bullish momentum has slowed down, the scale of the market remains intact and there is no indication of profit taking or reversals emerging from the highs. next bullish levels to watch around 16000 and immediate support is placed at 15690. “
Vinod Nair, Research Manager at Geojit Financial Services –
“Following positive global market indices, Indian stocks remained in the green zone during today’s session. US CPI data released yesterday eased inflation concerns, because the current surge is temporary and insufficient for the Fed to reduce its bond purchasing policy. Global sentiments have been further strengthened by the European Central Bank, which has raised its growth estimates and pledged its liquidity support. “
S Ranganathan, Head of Research at LKP Securities –
“Markets held firm in today’s trading despite a series of new public issues lined up this month. IT and metals were in the spotlight with the support of certain pharmaceutical actions. With several small caps having rebounded several times during CY2021, there was a feeling of caution as investors resorted to profit taking. The timely onset of the monsoon kept the mood going, however, as several Midcaps were seen buzzing.
Paras Bothra, President of Equity Research at Ashika Group –
“National markets remained firm on expectations of improving consumer and business confidence, reflecting a gradual easing of blockages and a faster pace of vaccinations against a backdrop of a drop in new cases of covid- 19. The government also does not expect the economic impact of the second wave of the COVID-19 pandemic to be as severe as the first. Meanwhile, the RBI remains supportive of the government. Momentum was seen in metals and information technology stocks, as banks and FMCGs were under pressure. At the close, Nifty 50 was up 0.39% and BSE Sensex was up 0.33% to 15,799.40 and 52,474.76 respectively.
Mohit Nigam, Head, PMS – Hem Securities –
“The benchmarks closed on a positive note with Sensex closing at 52,474.76 (+ 0.69%) and Nifty 50 closing at 15,799.35 (+ 0.39%), both indices closed at new highs Nifty 50 has shown some resistance in the 15,800-15,850 area, we believe a convincing close above the 15,850 levels will open the doors for 16,000 in Nifty 50. Large buys are seen in the Nifty 50s. metals and information technology stocks, while selling pressure is seen in some FMCGs and banks. Tata Steel and Coal India were the main winners while L&T and HDFC Life were the main losers in Nifty 50 The immediate resistance levels for Nifty 50 are 15850 and 16000 while the key support levels for Nifty 50 are 15500 and 15300.