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Stock Market Highlights: Sensex surges 975 points, Nifty ends above 15,150 led by banks, financials

Stock Market Highlights: Indian equity indices, Sensex and Nifty ended with strong gains Friday led by broad-based buying across sectors amid positive global cues. All sectoral indices closed in the green with Nifty Bank surging over 3 percent followed by financial services, IT, auto and realty indices. Midcap and smallcap indices also supported the rally.

The Sensex ended 975 points higher at 50,540 while the Nifty rose 269 points to settle at 15,175.Get latest Market online at

Market At Close | Here are the highlights from last market session

– Market Snaps 2-day Losing Streak; Midcap Index At Record High

– Financials Lift Market With Nifty Bank Surging Nearly 4%

– Healthy Q4 Earnings By SBI Lead To An All-round Gain In Banks

– Nifty Rises 269 Points To 15,175 & Sensex 976 Points To 50,540

– Midcap Index Gains 202 Points To Post The Record Close Of 25,413

– Nifty Bank Surges 1,272 Points To 34,607; All Constituents Higher

– Fresh Slippages Of `5,473 Cr In Q4 Leads To A Gain Of 5% In SBI

– Top 7 Nifty Gainers Are From Financial Space; HDFC Bank Top Gainer

– Natco, BoB, NCC, Shriram Trans, Torrent Power Top Midcap Gainers

– Market Breadth Favours Advances With Advance-Decline Ratio At 3:2

Market This Week | Here are the highlights of the market performance this week

– Market Records Biggest Weekly Gain Since Budget Week

– Nifty Rises 3.4%, Sensex 4%, Nifty Bank 7.6% & Midcap Index 4% This Week

– Nifty Pvt Bank & PSU Bank Rise Over 7% Each, Realty Index Up 7%

– IndusInd, SBI, M&M, HDFC Bk, ICICI, Bajaj Auto Top Nifty Gainers This Week

– Only 10 Nifty Stocks Give Negative Returns This Week; Bharti Top Loser

State Bank of India (SBI) and Bank of Baroda (BoB) stocks will be in the limelight in the short term

Markets rebound sharply on Friday and gained nearly 2 percent, tracking firm global markets and supportive local cues. We feel global cues will continue to dictate the trend in near future. The recent buoyancy in the banking and financial is certainly encouraging and participation of other sectors on a rotational basis would further fuel the recovery. We suggest continuing with a positive yet cautious approach and reiterate our immediate target of 15,300 for Nifty.

Indian benchmark equity indices posted a strong rise on May 21 led by the bank stocks. Hopes of a fresh stimulus and the transfer of surplus of Rs 99,122 crore by the Central Bank to the GOI, boosted sentiments on the street. Also encouraging PMI data from across the globe and falling Covid cases locally helped lift trader spirits. Nifty closed the week higher by 3.4%, its best weekly gain since February. Now the Nifty is on the way to reach/breach the earlier high. 14,928-14,984 is the new support band for the Nifty while 15,336-15,432 is the resistance.

Market This Week | IndusInd, SBI, M&M, HDFC Bank, ICICI, Bajaj Auto top Nifty gainers this week. Only 10 Nifty stocks gave negative returns this week; Bharti top loser.

We have successfully closed above the 15,150 levels. We should be heading higher to 15,300 as the next pit stop. The support continues to be at 14,700 and this will get upgraded on Monday. As long as this is holding, we are in bullish terrain and can continue buying the dips for higher targets.

Nifty closed the week sharply higher by 2.23 per cent as compared to the close of the previous week. The quality of the candle was very bullish. Nifty is nicely poised to rally and break above the resistance at 15,400-15,500 over the next couple of weeks. As we head into May expiry Nifty will try to trade beyond 15,200. Possibly aided by a sharp recovery in Bank Nifty. Price and pattern break out for the week are very significant from a view of next 6-8 weeks and the upside potential in Nifty is towards 16,000-16,200. The price action during the course of the week is very bullish and traders should be prepared for a firm rally over next 6-8 weeks.

Overall the sentiments are quite risk-on amid economic revival and reopening of the Western countries. Also, in India, the improving trend of moderation in daily new COVID cases is boosting risk sentiments. While, the dollar index has continued the downtrend, despite Fed minutes spooked the market on the prospect of Fed tapering and there are fewer signs of DXY bouncing at least in the short term. So fx traders will monitor the COVID situation and trend in the dollar, and keep the spot within 72.50-73.50 with a negative bias.

Rupee At Close | The Indian rupee has ended at the day’s high at 72.83 per dollar, amid buying in the domestic equity market. The local currency opened higher at 72.97 per dollar against the previous close of 73.10 and traded in the range of 72.83-73.08.

Market At Close | Market breadth favours advances with advance-decline ratio at 3:2

Market At Close | Nifty Bank surges 1,272 points to 34,607; All constituents higher.

Market At Close | Market snaps 2-day losing streak; Midcap index at record high.

Closing Bell | The Indian equity benchmark indices ended with strong gains Friday led by broad-based buying across sectors amid positive global cues. The Sensex jumped 975.62 points, or 1.97 percent to 50,540.48, while the Nifty ended at 15,175.30, up 269.25 points, or 1.81 percent. Gains in midcap and smallcap indices also supported the rally.

All sectoral indices closed in the green with Nifty Bank surging over 3 percent followed by financial services, IT, auto and realty indices. On the Nifty50 index, the top 5 gainers were from the banking space. SBI, HDFC Bank, IndusInd Bank, ICICI Bank and Axis Bank were the top gainers, up 3-5 percent while Grasim, PowerGrid Corporation, IOC, Dr Reddy’s Laboratories and Eicher Motors led the losses.

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