Taking Stock | Nifty reclaims 13,600; investors richer by Rs 3 lakh crore
Mid and small-caps outperformed large-caps. BSE Midcap and Smallcap indices rose 2.40 percent and 2.65 percent higher, respectively. December 23, 2020 / 04:35 PM IST
Extending the gains into the second consecutive session, headline indices the Sensex and Nifty ended with healthy gains on December 23 amid mixed global cues.
Market barometer Sensex witnessed mild volatility in the initial half-an-hour of the session but stabilised soon and traded in the green throughout the session. Continuing yesterday s momentum, the benchmarks rose by a percent supported by gains in shares of heavyweights, led by IT and FMCG.
The 30-share pack closed 437 points, or 0.95 percent, higher at 46,444.18 and Nifty settled 135 points, or 1 percent, higher at 13,601.10.
Sensex reclaims 46,000, Nifty crosses 13,400; have bulls made a swift comeback on Dalal Street?
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Sensex ends 452 points higher, Nifty at 13,466; IT stocks shine
Nifty IT was followed by Nifty Pharma, which closed 2% higher, followed by a 1.3% rise in the metal index. All the sectoral indices closed in the green territory today
BusinessToday.In | December 22, 2020 | Updated 17:34 IST
The Nifty IT index, up 3% led the list of gainers in Tuesday s volatile session
After a 3% fall on Monday, market indices reversed the trend amid positive cues from European markets and closed sharply higher on Tuesday. Global markets were mixed as an additional US stimulus package capped losses after the new COVID-19 strain in the UK triggered a global selloff. Recovering from earlier losses in a volatile trading session, Sensex ended 452 points higher at 46,006 and Nifty gained 137 points to 13,466.
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NEW DELHI: Nifty on Tuesday managed to stage a rebound forming a bullish harami pattern signalling that the 50-pack index is likely to be back on its upward journey after yesterday s pause.
Aditya Agarwala, Senior Technical Analyst, YES Securities, said, “A sustained trade above 61.8% Fibonacci retracement level of the entire fall, i.e., 13,535 can trigger more short covering rallies taking the index back to levels of 13,580-13,650. However, failure to breakout of the 61.8% Fibonacci resistance may resume the corrective phase, dragging the Nifty lower to levels of 13,400-13,320.
“Market took an unexpected positive momentum in the afternoon, during a see-saw trading day, following the positive opening of the European market, which recovered from yesterday’s sell-off. Volatility is expected to stay high in the near term due to strict lockdown impacting economic recovery. However, the market is expected to remain bullish in the medium to long term, backed by overa
Mumbai: After wild swings, Nifty50 formed a Bullish Harami kind of pattern on the daily chart on Tuesday, indicating the likely continuation of bullish sentiment. But analysts said it is too early to confirm the trend.
Shrikant Chouhan, Executive Vice President of Equity Technical Research at Kotak Securities, said for the positive momentum to continue, Nifty50 needs to sustain above 13,550 level.
“Meanwhile if the market breaks the 13,100 level, we may see another decline to 12,900-12,800 levels. On Wednesday, Nifty could be hit hard at 13,550 and 13,650 levels,” he said.
Aditya Agarwala, Senior Technical Analyst at Yes Securities, said a sustained trade above the 61.8 per cent Fibonacci retracement level of the entire fall, i.e. 13,535, can trigger more short-covering rallies and take the index back to 13,580-13,650 levels.
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