Indian market updates: Nifty50 above 9500, Bank Nifty gained 128 pts

 

The Indian stock market opened in the red today, as the global cues were negative in the morning. The Bank Nifty was volatile in a narrow range, profit booking was seen at higher levels in the morning. Some buying interest was seen in the market in the last hour and the market closed in the green.

The market sentiments were subdued as the traders remain concerned with the CARE rating. The report states that the country’s GDP growth is likely to be 3.6% in January-March 2020. This is because the economic activity came to a complete halt due to the countrywide lockdown imposed to contain the coronavirus outbreak in the mid of March 2020.

On the global front, Asian markets were closed marginally red today. The European markets are also trading lower as escalating tension between the US and China push back on the week’s positive sentiments amid the reopening of economies across the continent.

 

Indian market on spot levels: Sensex, Nifty50 & Bank Nifty

At close, Nifty50 gained 90.20 points or 0.96% and at 9580.30 while Sensex was up by 223.51 points or 0.70% and at 32424.10 levels. The Bank Nifty has also added 127.45 points or 0.67% and closed at 19297.25.

The Nifty midcap and smallcap 100 indexes also closed in the green today. The midcap index gained 143.05 points or 1.09% and closed at 12273 whereas the smallcap index was up by 34.30 points or 0.86% and closed at 4002.80 levels.

The top five gainers in the Nifty50 stocks for the day are IOC, Wipro, Coal India, ONGC and BPCL. The top five losers in the Nifty50 stocks are Adani ports, Infosys, Bharti Airtel, TCS, and Axis Bank.

On the sectoral front, Chemical, Real Estate, Metals and Mining, Insurance, and Banking & Finance are the gainers. Whereas the IT & Software, Telecom, Retail, and Aviation are the losers for the day.

 

Nifty50 & Bank Nifty futures share price today

The Nifty futures share price opened today at 9398.70, it was made a negative opening of 29.25 points today morning. It has touched an intraday high at 9509 and a day’s low at 9361.05

During the day Nifty futures share price has given a movement of 147.95 points. In the end, it was gained 54.3 points or 0.56% and closed at 9482.25 level

The Bank Nifty futures share price today opened at 18918, it was made a negative opening of 111.6 points. It has touched an intraday high at 19183.2 and a day’s low at 18655.8

During the day the Bank Nifty future share price has given a movement of 527.4 points. In the end, it gained 8.35 points or 0.04% and closed at 19037.95

 

Conclusions

Indian stock market closed in a positive note ahead of the GDP data announcement. The global markets were trading in the red due to the escalation of the US-China tension. The Nifty50 was trading sideways in most parts of the day but made a sharp recovery in the last hour. 

Traders can follow our key factors that will influence the market next week’s report on Sunday along with Technical levels of Nifty50 and Bank Nifty futures.

 

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