Mumbai: After three days of lacklustre trading, the Indian stock markets have ended on a positive note once again. At least a part of this recovery could be dedicated to the election results and investors’ faith. In the last three trading sessions, global cues included an impending Fed rate hike coupled with the fears of a repo rate hike by the Reserve Bank of India (that happened yesterday), investors mostly showed bearish sentiments ending Dalal Street in red.
At close, BSE Sensex was trading 160.00 points up at 62,570.68 and NSE Nifty was trading 52.55 points up at 18,613.05.
“With the RBI’s credit policy overhang now behind them, investors bought selectively in banking, metal and automobile stocks, although the undertone remained cautious ahead of next week’s US Federal Reserve meeting on interest rate. Central banks have in fact given more hints that interest rate hike would continue next year, which investors fear could lead to a likely recession in the Western countries and the US and subsequently impact growth. Technically, the inside body candle on daily charts is indicating non directional activity and indecisiveness between the bulls and bears. For bulls, 18675 would be the important breakout level to watch out for. And above the same, we can expect a quick uptrend rally up to 18800-18835. On the flip side, trading below 18500 may fuel further weakness up to 18435-18400”, said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
SENSEX TOP GAINERS
- Axis Bank: 2.73 per cent
- IndusInd Bank: 2.35 per cent
- ICICI Bank: 1.25 per cent
- Infosys: 0.93 per cent
- Bajaj Finserv: 0.84 per cent
- SBI: 0.82 per cent
SENSEX TOP LOSERS
- Sun Pharma: -3.76 per cent
- Power Grid Corp: -1.60 per cent
- TCS: -0.86 per cent
- Nestle: -0.70 per cent
- Kotak Mahindra: -0.69 per cent
NIFTY TOP GAINERS
- Axis Bank: 2.70 per cent
- IndusInd Bank: 2.25 per cent
- Larsen: 2.06 per cent
- Eicher Motors: 1.92 per cent
- Hindalco: 1.58 per cent
- ONGC: 1.42 per cent
NIFTY TOP LOSERS
- Sun Pharma: -3.63 per cent
- Divis Labs: -1.52 per cent
- Power Grid Corp: -1.47 per cent
- TCS: -0.89 per cent
- NTPC: -0.87 per cent
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