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May 31, 2021 / 04:32 PM IST

Closing Bell: Nifty ends above 15,550, Sensex jumps 514 pts; metals outshine

Among sectors, except IT, auto and PSU Bank all other sectoral indices ended in the green. BSE Midcap and Smallcap indices also ended higher.

  • IndexPricesChangeChange%
    Sensex54,369.77546.41 +1.02%
    Nifty 5016,258.80128.05 +0.79%
    Nifty Bank36,028.05820.60 +2.33%
    Nifty 50 16,258.80 128.05 (0.79%)
    Wed, Aug 04, 2021
    Biggest GainerPricesChangeChange%
    HDFC2,676.05121.40 +4.75%
    Biggest LoserPricesChangeChange%
    Grasim1,554.85-37.55 -2.36%
    Best SectorPricesChangeChange%
    Nifty Bank36028.05820.60 +2.33%
    Worst SectorPricesChangeChange%
    Nifty Midcap 10027928.20-337.50 -1.19%


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  • May 31, 2021 / 04:32 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets started the week on a firm note and gained nearly a percent, in continuation to the prevailing trend. After opening marginally in red, the benchmark drifted marginally lower in the early trades but healthy buying interest in select heavyweights triggered sharp recovery as the day progressed. Consequently, the Nifty settled around the day’s high to end at 15,583 levels. Amongst the sectors, metal, banking and oil & gas were the top gainers. The broader markets also ended with decent gains but underperformed the benchmark.
     
    Markets will react to the GDP data in early trade on Tuesday i.e. June 1. Besides, participants would keep a close watch on auto sales figures. Meanwhile, the last leg of earnings season is also expected to induce stock-specific volatility. Some states have announced relaxation in restrictions and we expect further easing in the coming weeks. Amid all this, we reiterate our bullish yet cautious stance on markets and suggest aligning the positions according to the prevailing uptrend.

  • May 31, 2021 / 04:18 PM IST

    Ashis Biswas, Head of Technical Research at CapitalVia Global Research:

    The market witnessed a strong trend and an attempt to overcome the resistance level around the Nifty 50 Index level of 15600. While breakout above 15600 is the key factor from a short-term perspective, maintaining above 15250 level market to gain momentum to increase the odds for a movement until 16000. The momentum indicators like RSI and MACD to stay positive and market breadth to improve, further strengthening a short-term bullish outlook.

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  • May 31, 2021 / 03:58 PM IST

    Jateen Trivedi, Senior Research Analyst at LKP Securities:

    Rupee traded weak on the back of dollar strength picking up from lower levels of $89.80 to $90.10 giving some reversal formation for the dollar index. Crude prices inching close to $70 also weakens the rupee with economies opening up globally pick up in crude prices will not help the rupee on the global front, but capital market positive tone shall keep the fall in rupee at check. Going ahead rupee can be seen in range 72.40-72.75 range.

  • May 31, 2021 / 03:55 PM IST

    Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments:

    We have successfully achieved the 15600 target and the index is all set to approach its next target of 15900. There could be a pause or bouts of profit booking in the interim but that should be utilized to accumulate long positions for higher targets. As long as the market closes above the 15300 level, the trend remains bullish and opportunities to buy on corrections should be maximized.

  • May 31, 2021 / 03:49 PM IST

    Rohit Singre, Senior Technical Analyst at LKP Securities: 

    Fresh breakouts, fresh highs and fresh closing seen in today’s session as index managed to closed a day at 15575 with gains of nearly one percent and formed a bullish candle on daily chart. Index decisively closed above 15500 zone which strength the overall structure, now any dip will be again buying opportunity as long as we are sustaining above 15500 zone which is immediate and strong support on the downside followed by 15400 zone. Immediate hurdle 15600-15700 zone and fresh move can be possible if managed to trade above 15600 on the immediate basis.

  • May 31, 2021 / 03:45 PM IST

    S Ranganathan, Head of Research at LKP securities:

    With European markets closing at record highs, we had a strong opening today and the bulls stepped up the accelerator during trade led by the oil & gas sector as heavyweight Reliance stole the show helping indices notch up a percentage gain. 

    Corporate profits to GDP ratio at a decade high last fiscal lent steam to the rally. The broader markets exhibited buoyancy with segments like NBFC's, metal stocks & pathology labs witnessing investor interest.

  • May 31, 2021 / 03:41 PM IST

    Rupee Close: 

    Indian rupee erased the intraday gains and ended near the day's low at 72.62 per dollar, amid buying seen in the domestic equity market. It opened higher at 72.39 per dollar against Friday's close of 72.43 and traded in the range of 72.34-72.65. 

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  • May 31, 2021 / 03:34 PM IST

    Market Close: Benchmark indices continued the gaining momentum on May 31 with Nifty hitting fresh record high of 15,606.35 intraday session supported by the metal, energy and banking stocks.

    At close, the Sensex was up 514.56 points or 1% at 51937.44, and the Nifty was up 147.10 points or 0.95% at 15582.80. About 1717 shares have advanced, 1449 shares declined, and 187 shares are unchanged.

    Top gainers were Reliance Industries, ICICI Bank, JSW Steel, Bharti Airtel and Dr Reddy’s Laboratories, while losers included M&M, Adani Ports, L&T, Infosys and IOC.

    Among sectors, except IT, auto and PSU Bank all other sectoral indices ended in the green. BSE Midcap and Smallcap indices also ended higher.

  • May 31, 2021 / 03:25 PM IST

    Market veteran Raamdeo Agrawal sees Sensex at 200,000 in the next 10 years

    The Nifty50 hit a fresh record high on Friday but the S&P BSE Sensex is still 1,000-point away from its last high of 52,516, recorded on February 16, 2021.

    Agrawal is the co-founder and joint managing director of Motilal Oswal Financial Services (MOFSL). He said that India is the next trillion-dollar opportunity. In line with the growth in economy, Sensex too, might hit the magic number of 200,000 in the next 10 years, he said in a note on May 27. Click to Read More

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