BSE Sensex and Nifty 50 ended larger on Monday, led by a healthful obtaining in index heavyweights such as RIL, ICICI Bank, Bharti Airtel and HDFC Bank. The 30-share Sensex surged to an more than 3-month higher and ended at 51,937. During intraday, the index zoomed 590 points and hit a higher of 52,013. Nifty 50 clocked a record peak of 15,606 in the intra-day session. It, having said that, pared some gains and settled at 15,582.80. Market breadth was positive as 1,744 stocks sophisticated even though 1,492 declined. A total of 191 shares remained unchanged. The broader marketplace was also positive. S&P BSE Midcap index gained .45 per cent or 96 points to finish at 21,758, even though S&P BSE Smallcap index ended at 23,474, up .5 per cent or 117 points.
Deepak Jasani, Head of Retail Research, HDFC Securities
Indian benchmark equity indices continued their uptrend on May 31 with Nifty hitting fresh record higher ahead of the Q4 GDP information due for release this evening. Nifty opened reduced and made an intra day low at 0930 Hrs. From there, it began to rise producing larger tops larger bottoms and ended the day pretty much at the intra day higher. At close, the Nifty was up 147.10 points or .95% at 15582.80. Nifty rose for the seventh consecutive session reaching and closing at fresh record highs. It has closed the month of May with a 6.5% obtain pretty much matching the February gains. The contribution to this rise was broad-based on May 31. Overall advance decline ratio was also mildly positive. 15635 is the next resistance for the Nifty even though 15470 is the help.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
We have effectively accomplished the 15600 target and the index is all set to method its next target of 15900. There could be a pause or bouts of profit booking in the interim but that should really be utilized to accumulate lengthy positions for larger targets. As lengthy as the marketplace closes above the 15300 level, the trend remains bullish and possibilities to acquire on corrections should really be maximized.
Rohit Singre, Senior Technical Analyst at LKP Securities
Fresh breakouts, fresh highs and fresh closing seen in today’s session as index managed to closed a day at 15575 with gains of almost one per cent and formed a bullish candle on every day chart. Index decisively closed above 15500 zone which strength the all round structure now any dip will be once again obtaining chance as lengthy as we are sustaining above 15500 zone which is instant and robust help on the downside followed by 15400 zone, instant hurdle 15600-15700 zone fresh move can be achievable if managed to trade above 15600 on the instant basis.
S Ranganathan, Head of Research at LKP Securities
With European markets closing at record highs, we had a robust opening today and the Bulls stepped up the accelerator for the duration of trade led by the Oil & Gas sector as heavyweight Reliance stole the show assisting Indices notch up a percentage obtain. Corporate Profits to GDP ratio at a decade higher last fiscal lent steam to the rally. The broader markets exhibited buoyancy with segments like NBFC’s, Metal Stocks & Pathology Labs witnessing investor interest.