BSE Sensex and Nifty 50 but once again ended at record higher levels on Thursday, taking the total industry capitalisation of the BSE listed organizations to a lifetime higher of Rs 200 lakh crore. Meanwhile Nifty April future also touched a record higher of 15,000 in intraday bargains. At close, BSE Sensex ended above 50,600 for the initially time ever, when the Nifty 50 index settled just shy of 14,900 mark. Market breadth after once again favored bulls, as 1,857 shares sophisticated, when 1,124 scrips declined. However, 147 shares remained unchanged. The broader industry outgunned the equity benchmarks for the second consecutive day. S&P BSE Sensex surged 1.45 per cent or 281 points to 19,595 when S&P BSE SmallCap index jumped 229 points or 1.21 per cent to finish at 19,149. Both the broader industry indices hit a fresh 52-week higher in intraday trade. The Nifty Bank index also crossed the vital 35,000 level for the initially time ever, extending the rally into the sixth straight day.
Vinod Nair, Head of Research at Geojit Financial Services
The industry turned positive from its weak begin and traded close to lifetime highs following a recovery in banking stocks. Driven by the hope of privatization & NPA restructuring, PSU banks have been at the forefront. FMCG, Media and Metal have been also in concentrate with broad-based rally. We can’t count on more from the on-going Monetary Policy Committee meeting, taking into consideration the encouraging financial outlook than to sustain a status quo and accommodative stance. While they will work on measures to normalize the gap in between the repo price and industry yield.
S Ranganathan, Head of Research at LKP Securities
Markets exhibited sturdy momentum by means of the day regardless of volatility as Capex associated stocks also participated collectively with PSU banks and Consumer stocks. The sheer array of sectors and stocks that have been sought soon after in the broader industry showed the mood of investors as the NIFTY crossed the 14900 mark today.
Rohit Singre, Senior Technical Analyst at LKP Securities
One more positive session with index touched fresh higher and closed a day on fresh highs at 14888 with a get of practically one per cent forming a bullish candle on the each day chart. Going forward 14750 has come to be a sturdy base in nifty also one can contemplate this as a make or break level any break beneath mentioned levels can see some more profit booking but holding above mentioned levels we could see the index to march towards the 15k mark.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Characterised by low volumes, the movement of the index was rather tepid in the initially half of trade today. Post 12 noon we saw some strength coming in which pushed the Nifty larger to cross 14900. We are nevertheless in a position to count on 15000-15100 on the index and therefore any dip or intra day correction can be utilised to enter the markets.
Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited
The industry is most likely to hold the momentum and most likely to attain the level of 14950-15000. The level 14730-14750 to act as a assistance zone from the quick-term point of view. The momentum indicators like RSI, MACD to keep positive. Buy on dips will be a excellent chance in the industry.