Nifty Pharma and IT Index Supported the Market today

November 15, 2021 admin

Nifty Pharma and IT Index supported the markets today

Indian stock markets opened higher on Monday amid positive cues from the Asian markets. The Nifty opened at 18140.95, up by 38.2 points while Sensex made a positive opening of 150.71 points at 60837.40 levels. The Bank Nifty also opened positive at 38849.45 levels up by 116.1 points from the previous close in the spot levels.

Stock Market News Today

Indian equity benchmark indices erased all their early gains and traded below their neutral levels in the afternoon trading session on the back of selling in Metals, PSU Banking, and Media sectors. The market sentiments also got hit after the announcement of the Wholesale Price Index (WPI Inflation) numbers. India’s WPI based inflation stood at 12.54% in October 2021 as compared with 1.31% last year same period. WPI was 10.66% in September 2021 and 11.64% in August this year.

In the post-lunch session markets erased their losses as buying witnessed in the Nifty Pharma, FMCG, and Nifty IT index. Traders took some support after SEBI chief Ajay Tyagi has said that the decision to implement a shorter settlement system in a phased manner beginning 2022 will go a long way in protecting investors’ interest.

Indian Stock Market Indexes at Close

At the close, Nifty gained 6.70 points or 0.04 percent and closed at 18109.45 while Sensex was up by 32.02 points or 0.05 percentage and finished at 60718.71 levels. The Bank Nifty was down by 31 points or 0.08 percent and closed at 38702.35 on the spot levels.

The broader markets closed mixed today. The Nifty midcap index gained 102.45 points or 0.32 percent and finished at 32028.30 levels. The Nifty smallcap index was down by 28.40 points or 0.25 percent and ended at 11149.30 levels.

The top five gainers in the Nifty50 index were Power Grip, ONGC, ITC, Cipla, and UPL. The top five losers were Coal India Tata Steel, Hindalco, Eicher Motors, and SBI Life. The most active stocks in the Nifty50 index in terms of value were Tata Steel, HDFC, and Axis Bank. The most active stocks in terms of volume were ONGC, ITC, and Coal India.

On a sectoral front, Nifty Pharma, FMCG, Consumer Durable, and Nifty IT Index were closed higher. The sectors that closed in the red were Metals, PSU Bank, Financial Services, and Auto.

Bullish Stocks to Buy Tomorrow, 16 Nov 2021

Scrip Name	Support	Resistance
Indigo	2329-2315-2303	2351-2372-2385
Zomato	155.30- 151.30- 147.35	162.20- 168- 172.20
Monte Carlo	609-585-562	643-677-700