Sensex gyrates 585 pts intraday, but ends flat
Nifty facing strong resistance at 25,000 level; A buying trend was seen in mid-cap and small-cap shares
image for illustrative purpose
Today, Sensex and Nifty benchmarks are trading higher following a flat start, driven by mixed global trends. The Nifty continues its solid near-term uptrend, facing resistance around the 25,000 level and support expected at 24,700. In the short term, the market may experience some volatility or a slight decline before potentially trending upwards, said Shrey Jain, founder and CEO of SAS Online
Volatile Session:
- BSE Sensex traded in 81,230-81,815 range
- NSE Nifty traded in 23,798-24,971 range
- Sensex up by 99.56 pts or 0.12% at 81,455
- Nifty rose by 21.20 pts or 0.09% to 24,857
- Nifty Midcap-100, Nifty Smallcap-100 rose 0.45%, 0.86%, respectively
Mumbai: Benchmark equity indices Sensex and Nifty eked out gains in volatile trade to settle at record high levels on Tuesday, extending their gaining streak to the third day on the back of buying in Tata Motors and HDFC Bank. Despite heavy volatility, the combined market valuation (mcap) of all BSE-listed companies hit the $5.50-trillion (Rs460.91 lakh crore) milestone for the first time.
The 30-share BSE Sensex closed higher by 99.56 points or 0.12 per cent at 81,455.40 -- its all-time closing high -- with 16 of its components advancing and 14 ending lower. The index opened higher and jumped 459.43 points or 0.56 per cent to hit an intra-day high of 81,815.27. The NSE Nifty edged up 21.20 points or 0.09 per cent to settle at an all-time closing high of 24,857.30. During the day, it surged 135.65 points or 0.54 per cent to 24,971.75. The index hit a low of 24,798.65.
“The domestic market ended flat, due to by profit-booking at higher levels. However, the expectation of dovish comments from the US Fed and BoE in the upcoming policy meetings this week is supporting the optimism,” Vinod Nair, head (research), Geojit Financial Services. In the broader market, the BSE smallcap gauge jumped 0.88 per cent and the midcap index climbed 0.27 per cent. During the day, both indices hit their all-time high level. Among the indices, Utilities surged 1.97 per cent, Power bounced 1.49 per cent, Consumer durables rallied 1.15 per cent, oil & gas by 0.73 per cent and consumer discretionary by 0.72 per cent).
“Most Asian stocks fell on Tuesday, reversing a rebound from the prior session as sentiment remained on the edge before interest rate decisions from the Bank of Japan, Bank of England and the Federal Reserve in the coming days. European shares opened higher on Tuesday, boosted by gains in technology and oil stocks, and after the euro-area economy grew more than expected in the second quarter, easing fears about the pace of an economic recovery,” added Deepak Jasani, head (retail research) at HDFC Securities.
Mcap at record $5.50 trn
The market capitalization (mcap) of BSE-listed companies hit the $5.50-trillion (Rs460.91 lakh cr) milestone for the first time on Tuesday. The mcap rose 0.99 lakh crore to Rs4,60,91,445.34 crore. Indian capital market reached $5-trn mark on last May 21
