Today, there is a tremendous rise in the stock market. The Sensex rose 746 points to close at 80,604. The Nifty rose 221 points to close at 24,585. Bank Nifty rose 505 points to close at 55,510. The rupee closed at $ 87.66/. Talking about the sectoral index, today the fastest was seen in PSU bank and realty sector. It had a jump of more than one percent. Zomato also closed 2 percent strongly.
Nifty in 50 profit
Adani Entertainment 5%
Tata Motors +3.1%
Internal 2.1%
Apollo Hospital 2.6%
Nifty 50 in loss
Hero MotoCorp -0.7%
Tech mahindra
Bell
Sins
PG Electroplast -15%
Home First Finance +5.9%
Shilpa Medicare +5%
Brigade Hotel +3%
Result
Doms 8.1%
TVS Supply Chain +6.7%
Garwar High Tech Films -9.6%
Voltas -4.5%
In top profit
HBL Engineering 13.4%
Website Energy 10%
Transformer and rectifier 7.6%
Paytm 5.6%
Maximum loss
Technocraft -8.4%
Antaro Healthcare -7.9%
IndiGo Paints -6.2%
Amber Paints -6.1%
The stock market saw fast in the morning
The stock market saw lethargy when the market opened in the morning. The Sensex opened 28 points to 79,885. The Nifty 8 points opened up to 24,371. Bank Nifty fell 5 points to open at 54,999. The rupee opened at 87.53 as compared to 87.48. This was followed by the most decline in the shares of the Consumer Durable Sector. Its Nifty index was seen trading with a decline of more than one percent. However, Nifty Auto, IT, Metal and PSU banks were seen trading with an edge. The good thing in today’s business session was that the market was seen trading at the highest level of the day around 1 pm. The Sensex was seen trading with a gain of over 400 points. In this, the shares of the government bank and the realty sector played an important role.
What is the major reason for this recovery?
– Nifty has been continuously negative for the last 6 weeks
– Bank Nifty is also weak for two weeks
– FII index futures long position around 8%, lowest level after 12 March 2023
– For the first time since 2012, FII Index Long Position remained below 10% for 7 days
How sustainable is this recovery?
– 24300-24375 is strong support for Nifty
– New weakness will come only when 24300 breaks, which is less likely
– 24550-24675 is the next target of recovery for Nifty
– 54900-55000 banks have strong support for Nifty
– 55425-55625 is the next target of recovery for bank Nifty
– New weakness will come below 54900, which is less likely
– Mid-multicap will increase only when the Nifty is closed above the critical level.
