BSE Sensex and Nifty 50 ended flat on Friday soon after witnessing a volatile trade. Sensex ended flat with just a acquire of 28 points at 48,832.03, even though the broader Nifty 50 index gained 36.4 points to settle at 14,618. During the day, Sensex surged to a day’s higher of 49,089.55, even though Nifty 50 index inched close to to 14,700 level. Market breadth remained in favor of bulls as 1,664 stocks sophisticated even though 1,238 scrips declined. A total of 158 stocks remained unchanged. Broader markets outperformed equity benchmarks. S&P BSE Midcap index gained 1.17 per cent or 233.78 points to finish at 20,157.36. While S&P BSE SmallCap jumped 1.05 per cent or 219 points to settle at 21,018.55.
Sumeet Bagadia, Executive Director, Choice Broking
After a positive opening, the Nifty index traded into the narrow variety for the day, but corrected throughout the final hours to close at 14617.85 levels. Bank Nifty has closed at 31977.45 levels with a loss of 135 points. On the sectoral front, pretty much all of the indices closed on a positive note with the typical gains of 1.5% whereas Nifty Pharma was the prime gainer for the day. Technically, the benchmark index has failed to sustain above 50 days Exponential Moving Averages, which acts as quick resistance zone. Moreover, an indicator MACD has also indicated adverse crossover, which suggests bearishness for the close to term. At present, the Nifty index has an quick help at 14250 levels, even though on the larger side it could locate resistance about 14700 levels.
S Ranganathan, Head of Research at LKP Securities
Despite US markets hitting new highs, Indices right here remained in a variety today as FII figures for the initial half of the month had been not pretty encouraging but we did see a lot of action in the broader market place with Pharma & Metals witnessing investor appetite. Despite a typical monsoon forecast today by the met dept, investors remained circumspect on account of increasing coronavirus circumstances.
Rohit Singre, Senior Technical Analyst at LKP Securities
Index closed a week at 14600 zone with loss of 1.50% on weekly basis and formed hammer sort of candle pattern on weekly chart. Again index has taken powerful resistance from 14700 zone which will be an quick hurdle for coming week as effectively followed by 14800 zone, supports are nonetheless placed at 14500-14400 zone if managed to hold above stated levels we could see positive move in coming sessions.
Vinod Nair, Head of Research at Geojit Financial Services
Strong positive cues from the international market place lent optimism to the Indian market place top to robust recovery even though volatility & underperformance had been noticed at the finish of the day due to issues more than lockdown. US treasury yield saw a sharp drop yesterday on reports of much better than anticipated retail sales and a fall in unemployment. It triggered a rally in the US which was also reflected in European and Asian markets. As quickly as India is in a position to show a drop in infection price, due to lockdown & vaccination, market place functionality will enhance