BSE Sensex and Nifty 50 settled more than half a per cent up on Thursday, supported by positive F&O month-to-month roll-more than and powerful worldwide cues. BSE Sensex ends 258 points or .51 per cent greater at 51,039, when the Nifty 50 index settled close to 15,one hundred, up 115.35 points or .77 per cent. Index heavyweights such as Reliance Industries Ltd (RIL), Axis Bank, Tata Consultancy Services (TCS), NTPC, and IndusInd Bank contributed the most to the indices’ obtain today. The broader markets outperformed the equity benchmarks, with S&P BSE MidCap index increasing 1.09 per cent or 220 points to finish at 20,334. While S&P BSE SmallCap index gained 1.42 per cent or 285 points to settle at 20,305. The modest-cap index hit a new 52-week higher of 20,321 in intra-day trade and surpassed its earlier higher of 20,183.
Rohit Singre, Senior Technical Analyst at LKP Securities
One more positive session and index managed to close at 15093 with gains of almost one per cent & formed a gravestone Doji sort of candle pattern on the everyday chart. On the quick basis, the index has very good help close to the 15k mark if the index managed to sustain above the 15k mark then-existing positive move can extend additional towards the 15200-15250 zone which are the hurdle zone on the greater side and if fails to sustain then powerful profit booking can be a witness.
Vinod Nair, Head of Research at Geojit Financial Services
Domestic marketplace added strength on yesterday’s rally supported by positive F&O month-to-month roll-more than and robust worldwide marketplace. Small and mid-cap stocks continued its outperformance more than the benchmark indices. World equity marketplace rebound soon after receiving assurance from central banks, importantly FED, that very good liquidity will be maintained, in spite of getting below stress of increasing inflation, considering that the economy is nevertheless effectively under the pre-covid standpoint.
Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited
The marketplace witnessed some swift recovery from its quick-term help about the Nifty50 Index level of 14650-14850. The expectation is that the level need to variety in between 15250 and 15000 in days to come. Technical pieces of proof are not supporting any important momentum from a quick-term point of view, and the marketplace is probably to keep in this variety. The momentum indicators like RSI, MACD to poised neutrally supporting.
S Ranganathan, Head of Research at LKP Securities
The day clearly belonged to the NIFTY PSE Index which rose 4% today soon after the program announced yesterday to privatise and monetise assets of PSE. The broader marketplace also witnessed keen investor interest in Power stocks.