The 30-Share BSE Sensex Climbed 256.22 points or 0.31% to 82,445.21. Among Sensex Stocks, 21 Constituents Closed Higher and Nine Declined. Its nse counterpart, nifty 50, rallied 100.15 points or 0.40% to 25,103.20.
The positive us jobs data and renewed optimism over us-china trade talks lifted global sentiment. Domestically, even large-caps expressed renewed Momentum LED by Fiis’ Inflows.
The broader markets outperformed, with the bse midcap index rallying 1.03% and the bse smallcap index climbing 1.19%. In the sectorral landscape, barring nifty realty, all indices closed Higher. Nifty Bank Hit a Fresh High in INTRADAY TRADE, Crossing the 57,000 mark for the first time. The index ended 0.46% higher, while the nifty financials index closed 0.94% higher.
Financial stocks extended their rally, driven by the RBI’s support and aggressive policy of rate and crr cuts. These Actions have boosted investor confidence and are expected to enhance liquidity in the near to Medium Term, Especially in Midcaps, said Vinod Nair, Head of Research, Geojits Limited.
Stock market today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, BELIEVES NIFTY 50 and Bank Nifty Can Continue to RO RISE in the days ahead.
Speaking on the outlook of the nifty 50 today, vaishali parekh said, “nifty open on a positive note with a gap up Above the 25,100 zone and there, remained range with a very narrow movement for rest Part of the Session with Bias and Sentiment Remining Positive, Anticipating Further Rise in the Coming Days. can boost the further development of the market overall. “
Once the recent peak of 25116 zone is breeded decisively, one can expect fresh targets of 25600 and 26000 levels in the coming days for the index, parakh added.
Commenting on the outlook for nifty bank, the prabhudas lilladher analyst said, “Bank nifty, Once Again Hit New High High High High In the Opening Session Session Scaling 57000 Level and with Bias Mainted Strong Never the 56900 Zone and Can Expect for Further Upward Movement in the Coming Days With PSU Banks also Beginning to Gain Strength and Can Carry on with the Positive Move Furthere Ahead. Expect the index to Gain further for fresh UPSIDE TARGETS OF 57700 and 60000 Levels Achievable in the coming days with 55800 zone as the important support area. “
The support for the day is seen at 24900 levels while the resistance is seen at 25300 levels, parents, adding that adding that bank nifty would have the Daily Rang of 56500-57400-57400-57400-57400-57400-
Vaishali Parekh’s stock recommendations
Regarding Stocks to Buy Today, Vaishali Parekh Recommended Buying these Three Stocks: Utkarsh Small Finance Bank, Swan Energy and Tata Technologies.
1) Utkarsh small finance bank: Buy at 25.7, target price at 29, and stop loss at 24
2) Swan energy: Buy at 467, target price at 490, Stop Loss at 455
3) Tata Technologies: Buy at 775, target price at 800, Stop Loss at 765
Disclaimer: The views and recommendations made about individual analysts or broking companies, and not of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.
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