Taking Stock: Investors book profits as Sensex breaks below 30,000
Profit-taking after a massive rally seen in the previous trading session pulled the S&P BSE Sensex below 30,000 while Nifty50 also gave up 8,800 levels on April 8.... Read More

Index | Prices | Change | Change% |
---|---|---|---|
Sensex | 83,952.19 | 484.53 | +0.58% |
Nifty 50 | 25,709.85 | 124.55 | +0.49% |
Nifty Bank | 57,713.35 | 290.80 | +0.51% |
Biggest Gainer | Prices | Change | Change% |
---|---|---|---|
Asian Paints | 2,507.80 | 98.10 | +4.07% |
Biggest Loser | Prices | Change | Change% |
---|---|---|---|
Wipro | 240.90 | -12.91 | -5.09% |
Best Sector | Prices | Change | Change% |
---|---|---|---|
Nifty FMCG | 56616.40 | 762.50 | +1.37% |
Worst Sector | Prices | Change | Change% |
---|---|---|---|
Nifty IT | 34950.70 | -580.40 | -1.63% |
Nifty has staged swift recovery to test 8900-9000 levels. Momentum indicators indicate possibility of further upside towards 9300-9400. Support zone for the index is at seen at 8500-8700. The current up-move is broad based and hence expect positivity to continue for few more trading sessions.
Daily momentum indicator RSI has given breakout of 40 level and reading at 43.35 and trading above it which suggests strength in the index.
The index managed to give a closing above 100&50 HMA which signifies buyers are active.
Based on the above technical structure resistance comes at 9155 If index manages to give break out above 9155 level then we can see 9200 & 9600 levels with support of 8600.
Immediate support for Nifty is coming near 8660-8550 zone, if managed to hold said levels then we may see some bounce towards immediate hurdle of 8900-9070 zone, for overall strength index need to sustain above 9000 zone. Support for Nifty Bank is coming near 18650-18300 zone and resistance is coming near 19300-19600 zone.
Markets gave up gains, following a negative opening in the European Markets and uncertainty regarding the spread of Covid-19 infections. Markets are also uncertain as to the government response after the official 21 day lockdown expires on April 14. Some states are looking to extend the lockdown and some are for withdrawing it in a phased manner. The longer the lockdown stays, more the impact on the economy and companies.
: After seen a relief rally in the previous session the market witnessed a volatility and ended on lower with Sensex slipped below 30,000 level.
At close, the Sensex was down 173.25 points or 0.58% at 29893.96, and the Nifty was down 43.45 points or 0.49% at 8748.75. About 1478 shares have advanced, 845 shares declined, and 156 shares are unchanged.
Shree Cements, Titan Company, TCS, Hindalco and BPCL were among major losers on the Nifty, while gainers were Vedanta, Sun Pharma, Cipla, NTPC and Bharti Infratel.
On sectoral front, buying seen in the pharma, auto, energy and FMCG stocks, while bank, IT and metal remained under pressure.
Adani Gas has cut piped gas price for residential users by 3.2-3.6% from April 1, quoting Cogencis, reported CNBC-TV18.
Sensex is trading around 30,000, while Nifty below 8800 in the volatile trade.
At 15:00 hrs IST, the Sensex is down 61.42 points or 0.20% at 30005.79, and the Nifty down 12.60 points or 0.14% at 8779.60.
Indian rupee has ended 74 paise lower at 76.37 per dollar on April 8, amid volatility seen in the domestic equity market.