Equity benchmark indices Sensex and Nifty settled on a high note, while the indices closed at fresh lifetime highs on Friday following gains in banking, financial and capital goods stocks amid a firm trend in the global market.
Equity benchmark indices Sensex and Nifty settled on a high note, while the indices closed at fresh lifetime highs on Friday following gains in banking, financial and capital goods stocks amid a firm trend in the global market.
On Friday, Sensex and Nifty hit their intraday highs of 63,520.36 and 18,864.70 respectively. Sensex closed 467 points, or 0.74 per cent, higher at 63,384.58 while the Nifty ended the day with a gain of 138 points, or 0.74 per cent, at 18,826.
On Friday, Sensex and Nifty hit their intraday highs of 63,520.36 and 18,864.70 respectively. Sensex closed 467 points, or 0.74 per cent, higher at 63,384.58 while the Nifty ended the day with a gain of 138 points, or 0.74 per cent, at 18,826.
Extending their gains into the sixth consecutive session, BSE Midcap and Smallcap indices hit their fresh all-time highs of 28,381.54 and 32,362.35 in intraday trade. The Midcap index eventually closed 0.71 per cent higher at 28,331.32 while the Smallcap index ended with a gain of 0.76 per cent at 32,292.19.
Extending their gains into the sixth consecutive session, BSE Midcap and Smallcap indices hit their fresh all-time highs of 28,381.54 and 32,362.35 in intraday trade. The Midcap index eventually closed 0.71 per cent higher at 28,331.32 while the Smallcap index ended with a gain of 0.76 per cent at 32,292.19.
On a weekly basis, the BSE benchmark jumped 758.95 points or 1.21 per cent, and the Nifty climbed 262.6 points or 1.41 per cent.
On a weekly basis, the BSE benchmark jumped 758.95 points or 1.21 per cent, and the Nifty climbed 262.6 points or 1.41 per cent.
What to expect in the week ahead?
The Nifty regained 18800 levels once again and inched closer to lifetime highs amid broad market outperformance. During the week, the Nifty gained almost 1.5 per cent while small cap and midcap indices gained almost 3 per cent each. Relative underperformance from financials and technology heavyweights restricted the gains for the Nifty.
What to expect in the week ahead?
The Nifty regained 18800 levels once again and inched closer to lifetime highs amid broad market outperformance. During the week, the Nifty gained almost 1.5 per cent while small cap and midcap indices gained almost 3 per cent each. Relative underperformance from financials and technology heavyweights restricted the gains for the Nifty.
Domestic brokerage Emkay noted that Nifty has support at 18,736 followed by 18,646 and 18,582. If the index moves up, the key resistance levels to watch out for are 18,890 followed by 18,955.
Domestic brokerage Emkay noted that Nifty has support at 18,736 followed by 18,646 and 18,582. If the index moves up, the key resistance levels to watch out for are 18,890 followed by 18,955.
ICICI Securities noted that the current momentum to continue with immediate support at 18600 in the short-term, below which only some weakness should be expected.
ICICI Securities noted that the current momentum to continue with immediate support at 18600 in the short-term, below which only some weakness should be expected.
The Bank Nifty found support near 43500 levels and reverted back to 44000 levels once again. The Bank Nifty has been hovering near 44000 levels for the last five weeks amid relative underperformance from private sector heavyweights.
The Bank Nifty found support near 43500 levels and reverted back to 44000 levels once again. The Bank Nifty has been hovering near 44000 levels for the last five weeks amid relative underperformance from private sector heavyweights.
While for Bank Nifty, the important pivot level, which will act as a support, is at 43,622 followed by 43,306 and 43,076. On the upside, key resistance levels are 44,169 followed by 44,399, it said,
While for Bank Nifty, the important pivot level, which will act as a support, is at 43,622 followed by…
Read More: Stock market triggers: Global cues, macro data among factors that may drive