Nifty
Nifty Pharma Index Hits 52-Week High Amidst Market Trends
According to Vaibhav Vidwani, Research Analyst at Bonanza Portfolio, Nifty Realty and Nifty IT emerged as the standout performers, showing respective gains of 2.55% and 2.27%.
Nifty Midcap100 Records 44% Surge, Nifty Smallcap100 Soars 54% in Impressive Market Performance
The positive developments led to upgrades in India's rating and GDP growth forecasts by various global firms, resulting in BSE-listed companies' market cap crossing the all-time high of $4 trillion. The NSE also surpassed the Hong Kong stock exchange to become the world's seventh-largest exchange by market cap.
Nifty Records Largest Single-Day Decline in a Year on Wednesday
This session marked the most substantial one-day fall for Nifty in the past year, signifying a potential short-term correction.
Nifty Opens Positively but Ends Lower at Close
Subash Gangadharan, Senior Technical and Derivative Analyst at HDFC Securities, noted that broader market indices like the BSE Mid Cap and Small Cap indices experienced greater declines, showcasing an underperformance compared to the Sensex/Nifty.
Markets Experience Subdued Activity Amidst Concerns Over Oil Supply and Elevated Valuations
Rupak De, Senior Technical Analyst at LKP Securities, notes a potential interruption in the ongoing rally based on the Nifty's daily chart and signals from the RSI indicator. A correction may occur if the index falls below 21,350, with short-term support at 21,220/21,100, while resistance is expected at 21,500.
Market Value of BSE Listed Companies Skyrockets by Rs 8.55 Lakh Crore in a Week
PSU bank stocks extended gains for the 11th consecutive trading session, contributing to the market's robust performance.
Nifty Shows Impressive 3% Surge Over Last Two Days
Nifty closed near its day's peak, climbing by 274 points (+1.3%) to reach 21,456 levels on Friday. Sector-wise, there was a mixed performance, notably with buying observed in IT, PSU banks, metals, and oil & gas stocks.
Bank Nifty Anticipated to Surge Towards the 50,000 Milestone
The prevailing market sentiment continues to be bullish, underpinned by a robust foundation at 47,500. Any potential retracement toward this support level is perceived as a chance for investors to capitalize on buying opportunities.
Analysts Predict Bank Nifty to Reach 50,000-Mark in Upcoming Projections
Vinod Nair, Head of Research at Geojit Financial Services, noted that market buoyancy persists, driven by investor expectations that concerns over US economic growth will ease by the second half of CY24. Investors are optimistic that the economy will experience a soft landing, aided by the normalization of monetary policy.
Markets Soar to Record Heights Following Dovish Commentary from US Fed
Rupak De, a Senior Technical Analyst at LKP Securities, highlighted the Nifty's breakout from consolidation, driven by a rise in long positions compared to short trades. The index's comfortable position above crucial moving averages indicates robust sentiment, with potential for further advances toward 21,400 and beyond, according to De. Support is evident at 21,000, where significant Put positions are held.
Advertisement