BSE Sensex and Nifty 50 ended greater on Monday in a broad-based obtaining just after the Indian stock market place witnessed the most significant single-day drop in the earlier session. BSE Sensex ended 750 points or 1.53 per cent greater at 49,850, though the broader Nifty 50 index settled 232 points or 1.60 per cent greater at 14,762. Index heavyweights such as Housing Development Finance Corporation (HDFC), HDFC Bank, Kotak Mahindra Banka and ICICI Bank, contributed the most to the indices’ up move. Sensex hit a day’s higher of 50,058 though the Nifty 50 index crossed 14,800 in the course of the trade. The broader market place performed in-line with equity benchmarks. S&P BSE MidCap index jumped 1.46 per cent or 292 points to finish at 20,270, though the S&P BSE SmallCap index gained 1.61 per cent or 324 points to finish at 20,479.
Vinod Nair, Head of Research at Geojit Financial Services
Domestic markets kick-began the month on a powerful footing with enhanced optimism led by GDP reaching positive numbers, enhancing auto numbers and steady PMI manufacturing information. The auto sector was in concentrate today as the sales numbers for February had been in favour of producers. Global markets had been on its upward rally owing to the a lot-anticipated US stimulus package becoming authorized and reports with regards to the progress in the vaccines.
Shrikant Chouhan, Executive Vice President (Equity Technical Research), Kotak Securities
Today, the market place remained volatile moving in a narrow variety of one hundred points, in between 14680 and 14780. It came down from the anticipated highs but managed to survive at a reduced level. It could be due to the enormous trading activity on Friday. The market place remained bullish in the earlier day’s trading variety and developed a bullish “harami pattern” on the everyday chart. Tomorrow could be an crucial day for the market place as the dismissal of 14830 would be incredibly positive for the market place and the dismissal of 14600 would be adverse. Today, unexpectedly, all stocks in the Nifty 50 basket except Bharti Airtel closed in positive territory. Companies in HDFC, HDFC Bank, ICICI Bank and Reliance Industries performed far better than anticipated. Be a level based trader on Tuesday.
S Ranganathan, Head of Research at LKP Securities
Positive international cues and US yields retreating from highs led to a powerful opening today with Indices sustaining gains all through the day. The broader markets saw energetic obtaining momentum across PSU basket and sectors like Paints & Speciality Chemicals.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
14820-14950 is a resistance zone for the index. Until we do not get previous this, the quick term downtrend continues. If we resist and turn about from right here, the markets can go down to test 14350-14400. This is a essential location and stops are wide. Traders are advised caution.