Banking stocks saw a rise, realty stocks saw profit-booking
Mumbai, (IANS)| Positive global cues as well as expectations of a sharp economic recovery enthused major Indian stock markets during the afternoon trading session on Wednesday. Initially, India’s benchmark indices started positive along with global sentiments, completely ignoring the spread of the delta variant across the globe.
However, higher valuations limited the gains. In the process, the S&P BSE Sensex touched an intra-day record high of 54,440.8 points and Nifty 50 touched a new high of 16,290.2 points. Consequently, the Sensex was trading at 54,319.93 around 12.15 pm, up 496.57 points or 0.92 per cent from its previous close. Similarly, the Nifty 50 of the National Stock Exchange closed at 16,257.10, up 126.35 points or 0.78 per cent from its previous close.
“Positive signals from Wall Street and other Asian markets: All major sectors have shown positivity,” said Likita Chepa, Senior Research Analyst, Capital Via Global Research. “We have seen a breach of the 16,200 level, remains above 16,200, we expect the market to turn bullish, leading to an upside move towards the 16,450-16,500 level. Technical indicators also support the positives in the market We do.”
According to Deepak Jasani, Head of Retail Research, HDFC Securities, “Continuing from the previous day’s momentum, Nifty opened gap on 04 Aug and continued to move higher in the morning session. It moved into 1100 hours post taking some gains. Is.” “Asian markets edged higher on Chinese regulatory actions and concerns about the delta strain outbreak. In India, bank stocks edged up, while realty stocks booked profits.”
(Disclaimer: This news has been published directly from news agency’s Syndicate feed. It has not been edited by AnyTV News team.)