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Moneycontrol

Budget 2021

Associate Partners:

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May 28, 2020 / 04:08 PM IST

Closing Bell: Nifty ends May series just shy 9,500, Sensex rises 595 pts as auto, banks rally

Zee Entertainment, Eicher Motors, L&T, Hero MotoCorp and IndusInd Bank were among major gainers on the Nifty, while losers included Wipro, Cipla, JSW Steel, BPCL and ITC.

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  • May 28, 2020 / 04:27 PM IST

    Rahul Mishra, AVP (Derivatives), Emkay Global Financial Services:
     
    I am still of the view that there is weakness in the market and the level near 9500 are unlikely to sustain. YES BANK is going out of Derivative segment and no more contracts will be available from 29th May onwards.

  • May 28, 2020 / 04:10 PM IST

    Deepak Jasani, Head Retail Research, HDFC Securities:

    Technically the Nifty has filled the downgap made on May 14. Now the next resistance is at 9533-9584 band, while 9334-9383 could offer support in the near term.

  • May 28, 2020 / 04:09 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    In a continuation to positive expectations visible yesterday, benchmark indices gained by around 1.9%, led by the Auto and Banking index. A huge EU stimulus plan provided a boost to European shares while Asian shares were affected by the US-China diplomatic issues. Indian markets are banking on continued resumption of economic activities, inspite of still high number of new infections. 

    Further stimulus measures are also expected to boost demand in the economy and help the most impacted sectors to recover. Market is rising on the back of expectations while there has been little change in ground realities.

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  • May 28, 2020 / 04:06 PM IST

    Sumeet Bagadia, Executive Director at Choice Broking:

    Technically index has started to trade with positive crossover of 21*50 DMA which is a bullish sign. Furthermore, Momentum indicator RSI&MACD both are showing positive crossover which points out strength in the index. At present level index is having good support level at 9100-9000 and facing resistance at 9600-9650 levels.

  • May 28, 2020 / 04:04 PM IST

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

    The markets ended the monthly expiry of May on a positive note, not giving up any of its gains which is a good indication of what lies ahead. Every dip now becomes an opportunity to buy or go long. We should expect levels closer to 9700 during the course of the June expiry. As long as we can stay above the levels of 9000, we are in a medium term bull market.

  • May 28, 2020 / 03:35 PM IST

    Market Close: Benchmark indices continued to end on strong note for the second consecutive day with Nifty near to 9500 level.

    At close, the Sensex was up 595.37 points or 1.88% at 32200.59, and the Nifty was up 175.15 points or 1.88% at 9490.10. About 1507 shares have advanced, 801 shares declined, and 150 shares are unchanged.

    Zee Entertainment, Eicher Motors, L&T, Hero MotoCorp and IndusInd Bank were among major gainers on the Nifty, while losers included Wipro, Cipla, JSW Steel, BPCL and ITC.

    All the sectoral indices ended in the green. BSE Midcap and Smallcap indices rose more than 1 percent each.

  • May 28, 2020 / 03:21 PM IST

    Sun Pharma & SPARC in licence agreement: Sun Pharma Advanced Research Company and Sun Pharmaceutical Industries announced a worldwide licensing agreement on the development and commercialization of SCD-044 which is being evaluated as a potential oral treatment for atopic dermatitis, psoriasis and other auto-immune disorders.

  • May 28, 2020 / 03:10 PM IST

    Federal Bank Q4: Federal Bank has reported 21 percent YoY fall in its March quarter (Q4FY20) net profit at Rs 301.2 crore against Rs 381.5 crore. Net Interest Income (NII) rose 10.9 percent at Rs 1,216 crore versus Rs 1,096.5 crore, YoY, reported CNBC-TV18.

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  • May 28, 2020 / 02:57 PM IST

    Bharti Airtel in pact with Nodwin Gaming: Bharti Airtel and NODWIN Gaming announced a partnership to further grow E-sports in India.

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