Indian stock markets surged to a six-month high with Sensex rising 400 points and Nifty crossing the 18,700 mark as it reacted positively to macro data and strong global trends. The FMCG sector rose 1.38%, while consumer durables climbed 1.8%. Real estate, too, showed a jump of 2.94%. Stocks such as MRF and Olectra Greentech were among those in focus. Experts at SSJ Finance & Securities recommend buying at the current level and dips of INR 97,000 for MRF and Olectra Greentech, with resistance around INR 940 and selling at INR 201 for ZEE.
The benchmark Sensex rose by 418 points to settle at a six-month high, driven by optimistic domestic macroeconomic data and gains in global markets. Buying in index majors Reliance Industries and ITC also added to the positive mood in equities. Additionally, the Nifty closed above the 17,700 mark.
Stocks in focus included names like MRF, which closed with gains of over 1%. The stock closed a fresh high above the Rs 100,000 mark for the first time. Other stocks which remained in focus included names like Olectra Greentech, which rose over 7% to hit a fresh 52-week high, and Bombay Burmah Trading Corp closed with gains of over 10% to hit a fresh 52-week high