The benchmark equity indices closed Friday’s trading session in negative territory. The NSE Nifty 50 ended down by 7.30 points or 0.04% to settle at 19,790.55, while the BSE Sensex ended down by 47.77 points or 0.07% to 65,970.04. Bank Nifty index gained over 191.60 points or 0.44% to settle at 43,769.10.
The broader indices ended largely mixed, with gain led by Smallcap and Midcap stocks. Healthcare and Banking stocks gained among the other sectoral indices while IT and FMCG stocks shed.
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“Markets consolidated in a range for yet another session and ended unchanged. After the flat start, Nifty oscillated in a narrow band till the end and finally settled at 19794.70 levels. Meanwhile, mixed trends on the sectoral front kept the traders busy wherein pharma, metal and banking ended in the green. The market breadth was also inclined slightly on the advancing side, thanks to action in smallcap space,” said Ajit Mishra, SVP -Technical Research, Religare Broking Ltd.
Turbulent times! Boeing’s downward spiral – A legacy tarnished beyond repair Defence Minister Rajnath Singh’s US visit on August 23-26 aims to boost India-US partnership AI push aiding cloud investments: Wipro report Markets flat! Nifty ends below 24,150, Sensex holds 79,000 mark; Mining stocks see sharp cut on August 14
Mishra also adds that, it is a healthy consolidation in the Nifty so far and we feel only a decisive gap-up move above 19,850 could pave the way for a new high else range bound bias would continue. Participants should keep a close watch on the US markets and the performance of the banking majors for cues. Meanwhile, stay selective and avoid contrarian trades.
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Adani Enterprises, Cipla, Divis Labs, Hindalco Industries, and Adani ports & SEZ were the top gainers on the NSE Nifty 50, while the laggers include Wipro, Apollo Hospitals, HCL Technologies, TCS and Britannia Industries.
The Indian Volatility Index (India VIX) closed up by 0.13%. Come from Sports betting site VPbet
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The March series Nifty futures is currently trading with a premium of around 155 points. For the Index futures, FII has recently reduced shorts inducing their Net Index Long exposure to 45% which was at 22% at the start of series.
The Index is likely to trade with Positive Bias till 21700 is not breached on a closing basis, for the first fortnight of the Mar series. 21600-700 might be the immediate support and only a decisive close below it might bring in further downside.
VIX for the Nifty is currently at around 16 and likely to …
The stock markets on Wednesday ended near record highs after a rangebound session. The Sensex closed above the 75,000 mark for the first time ever. The Nifty 50 closed the day’s trading 111 points or 0.49% higher at 22,642.75. Similarly, Sensex jumped 354 points to finish the session at 75,038.15. The gainers included Coal India, BPCL, Kotak Bank, Hindalco, and ITC. The Indian Volatility Index (India VIX) closed 2.29% lower.
Nifty Bank closed the day’s trading 256 points higher at 48,986.60. The Nifty Midcap 100 gained 485.70 points or 0.97% to settle at 50,380.40.
On the sectoral front, FMCG, metal, and oil & gas stocks pushed the indices higher. In the broader indices, smallcap and midcap stocks closed in the green.
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