Nifty50 today closed above 10200 levels and Bank Nifty gained 382 pts

 

Indian stock market opened in flat and extended its gains steadily. In the morning Asian markets were trading mixed and SGX Nifty was trading flat. After opening the Indian market most of the Asian markets turned into green. European markets also opened in the green and are training higher.

The market sentiments got boosted with SBI’s Chairman Rajnish Kumar’s statement that there is enough liquidity available in the system and also interest rates moderated to a large extent. Kumar further added that both RBI and the government have taken measures to bring back the economy, derailed by the Corona pandemic, back on track.

On the global front, global markets are trading positively with reports of lower jobless claims in the United States. The sentiment has also got boosted after China ramped up quick emergency measures to contain a possible resurgence of the COVID-19 pandemic in Beijing. The steps were taken after a few positive cases were recorded in the capital city.

 

Sensex, Nifty50, and Bank Nifty today on the spot levels.

At close, Nifty50 today gained 152.75 points or 1.52% and at 10244.40 while Sensex was up by 523.68 points or 1.54% and at 34731.73. The Bank Nifty today closed at 21338.10, it was up by 381.80 points or 1.83%.

The Nifty midcap and smallcap 100 indices made a decent gain today. The midcap index gained 138.30 points or 0.96% and closed at 14565.85. Whereas the Nifty smallcap index was up by 83.55 points or 1.86% and closed at 4576.75

The top five gainers in the Nifty50 today are Bajaj Finserve, Bajaj Finance, Tata Motors, Reliance, and Bharti Infratel. The losers in the Nifty50 today are IndusInd Bank, Vedanta, HCL Tech, ITC and M&M

On a sectoral basis, Real Estate, Oil & Gas, Capital Goods, Electrical and Banking & Finance gained 2-5% today. The sectors that closed in the red are Insurance, Healthcare and IT, and Software.

 

Nifty50 and Bank Nifty today in futures 

The Nifty50 today in futures opened at 10057.40, it was made a negative opening of 14.5 points today morning. It has touched an intraday high at 10252 and a day’s low at 10051

During the day Nifty50 futures share price has given a movement of 201 points. In the end, it gained 174.8 or 1.74% and closed at 10246.70 levels

The Bank Nifty today in futures opened at 20890, it was a negative opening of 22.65 points today. It has touched an intraday high at 21464.20 and a day’s low at 20826

During the day the Bank Nifty share price in futures has given a movement of 638.2 points. In the end, it was down by 389.35 points or 1.86% and closed at 21302

 

Conclusions:

Indian stock market gained for the second consecutive day with the support of the global market. Traders ignored the ongoing tension between India and China on the border and increasing coronavirus cases. Nifty today closed above 10200 is a positive sign for the market technically, it may now head forward to achieve 10,500 levels.

Traders interested in Nifty and Bank Nifty can follow are daily Live Market recommendations. You can visit our website on Sunday gain to read the Key Factors that will influence the market next week.

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Editor’s Desk

 

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