The Nifty50 closed 157 points higher at 21,929 while the S&P BSE Sensex closed with gains of over 450 points. Sectorally, buying was seen in oil & gas, IT, telecom, energy, and metal space while power, banks, and FMCG saw some selling pressure.
Indian market bounced back on Friday after the Interim Budget Day. The S&P BSE Sensex rose more than 400 points, while the Nifty50 closed above 21800 levels. Buying was seen in oil & gas, energy, metal, and public sector stocks, while selling was seen in telecom and banking. Stocks like NHPC, NBCC, and SJVN hit fresh record highs. Analyst Sanket Thakar says NBCC after a multi-year breakout, aims for Fibonacci extension levels. NHPC and SJVN reached all-time highs but may experience a cooling-off period.
The S&P BSE Sensex fell more than 100 points while the Nifty50 closed below 21,700 level. Sectorally, buying was seen in the public sector, power, and banks, while telecom, capital goods, realty and metals saw some selling pressure.
Stocks that were in focus on Wednesday include names like Godfrey Phillips which was up nearly 10% to hit a fresh record high, PB Fintech which rose 10% to hit a fresh 52-week high and UCO Bank which closed with gains of over 6% on Wednesday
NBCC is continuously moving in an uptrend. It has given a breakout from an important resistance with a big bullish green candle. If the stock manages to close above Rs 119 then our Target 1 will be Rs 134.60, and Target 2 will be Rs 154. The stock is experiencing a good buying volume from that trendline breakout even though it has even crossed 50-MA in the volumes chart.