Live now
auto refresh
April 29, 2020 / 03:33 PM IST

Closing Bell: Nifty ends above 9,500, Sensex rallies 600 pts; metal stocks shine

Metal and the IT index gained 2-3 percent while HDFC is the top index gainer.

  • April 29, 2020 / 04:28 PM IST

    Ajit Mishra, VP - Research, Religare Broking Ltd: Market continued their momentum for the third consecutive session and ended with strong gains tracking encouraging global cues. Nifty ended higher by 1.8 percent at 9,553 and the rally was broad-based with strong participation from Banking, Metals as well as IT stocks. 

    The last few sessions have witnessed increasing participation from banking as well as laggards like Metals which indicates that the focus is shifting on stocks which would be impacted by regulatory and policy decisions as well as global factors. With no major event on the local front, we feel global cues viz. US Fed meet and European Central bank meet will dictate the market trend as more measures are expected to combat the virus impact. On the domestic front, scheduled derivatives expiry and earnings announcements would keep the volatility high.

  • ADVERTISEMENT
  • April 29, 2020 / 04:12 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services: Nifty closed above the 9500 mark and almost all sectoral indices traded positive, except for the defensives - FMCG and Pharma. Expectations of lockdown measures easing and company specific news about restarting operations, gave support to the markets. The volatile crude oil prices were also up because of a lesser than forecasted increase in US oil inventories.

  • April 29, 2020 / 03:56 PM IST

    Sumeet Bagadia, Executive Director, Choice Broking: Technically, Nifty has given the major resistance breakout of 9500 level and made an intraday high at 9598.85 level which points out strength in the index. Furthermore, index has been sustains above 21 and 50 HMA which is a bullish sign. The index has good support at 9350 level with resistance at 9640 levels.

  • April 29, 2020 / 03:50 PM IST

    Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities: Market continues to remain in medium term uptrend. Nifty is expected to test 9900-10000 levels in the next few weeks. Broader participation is increasing which is a positive sign and reinforces the positivity. On the down side trend support is seen only at 8900. We expect the broader markets to remain positive over the next few weeks. 

    Traders can consider buying on dips; Banking and Metal stocks are expected to provide further momentum while Pharma and FMCG are expected to witness profit booking.

  • ADVERTISEMENT
  • April 29, 2020 / 03:45 PM IST
  • April 29, 2020 / 03:40 PM IST

    S Ranganathan, Head of Research at LKP Securities: HDFC twins helped power the market today ably supported by select pivotals from Financials, Metals & the IT sector.  The street would be keenly watching global cues tonight as tomorrow is the last working day for markets in India for the week.

  • April 29, 2020 / 03:35 PM IST

    Market at close: Sensex ended 605.64 points higher or 1.89 percent at 32720.16, and the Nifty jumped 155.25 points or 1.65 percent at 9536.15. Metal and the IT index gained 2-3 percent while HDFC is the top index gainer.

      Market at close: Sensex ended 605.64 points higher or 1.89 percent at 32720.16, and the Nifty jumped 155.25 points or 1.65 percent at 9536.15. Metal and the IT index gained 2-3 percent while HDFC is the top index gainer.
  • April 29, 2020 / 03:15 PM IST

    European markets trade mixed: The pan-European Stoxx 600 fluctuated either side of the flatline in early trade, with oil and gas stocks and banks each adding 1.2 percent.

  • April 29, 2020 / 03:01 PM IST

    Sensex is up 727.16 points or 2.26% at 32841.68, and the Nifty jumped 203.55 points or 2.17% at 9584.45.

      Sensex is up 727.16 points or 2.26% at 32841.68, and the Nifty jumped 203.55 points or 2.17% at 9584.45.
  • ADVERTISEMENT
  • April 29, 2020 / 02:46 PM IST

    Marginal relief for Vodafone Idea as SC allows tax refund of Rs 733 crore: The Supreme court on April 29 allowed tax refund of Rs 733 crore for Vodafone Idea. The apex court has ordered for the refund to be issued within four weeks. Vodafone Idea had alleged that the taxman had not processed income refund of Rs 4,759 crore for assessment years 2014-15  to 2017-18.

  • April 29, 2020 / 02:36 PM IST

    Nifty Metal is the outperforming sector, up over 4 percent led by SAIL, Hindalco and JSPL.

      Nifty Metal is the outperforming sector, up over 4 percent led by SAIL, Hindalco and JSPL.
Sections