Nifty, Sensex End In Green; Sectoral Indices Perform Mix Trade
In the Nifty 50 index, 37 stocks advance in the positive territory, while 13 stocks end in the red territory
The Indian stock market displayed mixed gains in the Wednesday trading session.
The National Stock Exchange (NSE) Nifty 50 index ended 0.29 per cent higher at 24,770, however the S&P Bombay Stock Exchange (BSE) Sensex settled 102 points higher at 80,905 levels on the closing bell.
Nifty Moves
In the Nifty 50 index, 37 stocks advanced in the positive territory, while 13 stocks ended in the red territory.
Among the winners Divis Lab gained more than 3 per cent, while Titan, SBI Life and Cipla gained more than 2 per cent.
Among the losers, Tech Mahindra, Tata Steel, Ultratech Cement and Power Grid lost more than 1 per cent.
Analyst Note
“Rotational buying in heavyweights across sectors is aiding the index's gradual climb, though inconsistency in the banking majors is keeping participants cautious. On the index front, Nifty may pause around 24,850 before moving towards the 25,000 level. In the event of a dip, we expect the index to find support in the 24,450-24,600 zone. In addition to domestic factors, we recommend closely monitoring the US markets for further cues,” said Ajit Mishra – SVP, Research, Religare Broking.
Sectoral Movement
The sectoral trend remained mixed, with FMCG, pharma, and metal sectors posting decent gains, while profit-taking in banking and financial majors limited the upside.
Meanwhile, buoyancy in the small-cap space contributed to positive market breadth, settling on the advancing side.
