After three days of slumber, the bull has finally awoken. Summarizing the trades of the day, Udayan Mukherjee, Managing Editor of CNBC-TV18 says that what began as a quiet session, turned into a blockbuster breakout rally for the markets.
The Nifty went through a 103 point rally to close at 5728 and the Sensex closed nearly 350 points higher today.
Analysing the performance of the large-caps, Udayan says that today was a largecap affair! FIIs have been pouring in all day and volumes have perked up significantly, he points out.
There was a bit of short covering towards the end of the day for people who shorted the market from 5700 levels, expecting that the Nifty would not be able to journey forward. "Nonetheless, some kind of a powerful impulse carried the Nifty past the 5700 threshold today," the managing editor says. What is to be noted is that 49 out of 50 stocks in the Nifty were up today.
As for individual stocks, Bharti did very well in intra-day. L&T played it strong and ITC had a good day too. NTPC and Reliance, both heavyweights, performed decently well today and HUL and Hindalco were in the limelight.
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