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HomeNewsBusinessMarketsTaking Stock | Indices starts June series on a strong note, Nifty hits fresh record high

Taking Stock | Indices starts June series on a strong note, Nifty hits fresh record high

Except for pharma and IT, all other sectoral indices ended in the green. BSE Midcap and Smallcap indices ended marginally lower.

May 28, 2021 / 16:25 IST

Nifty started the June F&O series on a strong note hitting fresh record high, while Sensex hit a fresh record closing high on the back of positive cues. The Sensex added 307.66 points or 0.60% to close at 51,422.88, while Nifty rose 97.80 points or 0.64% to ends at 15,435.70.

For the week, Sensex and Nifty gained 1.7 percent each.

"The expected levels of the market are likely to be in the range of 15250 and 15600, and it's going to crucial for the short-term market scenario to sustain above the 15250. The momentum indicators like RSI and MACD supporting today's momentum and indicate potential upside from the current market level," said Ashis Biswas, Head of Technical Research at CapitalVia Global Research.

Except for pharma and IT, all other sectoral indices ended in the green. BSE Midcap and Smallcap indices ended marginally lower.

Reliance Industries, Grasim Industries, Adani Ports, M&M and Coal India were among the top gainers on the Nifty, while losers included Sun Pharma, Shree Cements, Bajaj Finserv, Dr Reddy's Labs and ICICI Bank.

Stocks & sectors

On the BSE, power, healthcare and capital goods indices shed 0.5-1 percent, while the oil and gas index added 1 percent.

Among individual stocks, a volume spike of more than 100 percent was seen in Canara Bank, M&M and United Breweries.

IndexPricesChangeChange%
Sensex83,938.71-465.75 -0.55%
Nifty 5025,722.10-155.75 -0.60%
Nifty Bank57,776.35-254.75 -0.44%
Nifty 50 25,722.10 -155.75 (-0.60%)
Fri, Oct 31, 2025
Biggest GainerPricesChangeChange%
Bharat Elec426.1016.20 +3.95%
Biggest LoserPricesChangeChange%
Eternal317.75-11.60 -3.52%
Best SectorPricesChangeChange%
Nifty PSU Bank8184.35125.60 +1.56%
Worst SectorPricesChangeChange%
Nifty Metal10612.20-117.00 -1.09%

Long buildup was seen in Canara Bank, Shriram Transport Finance Corporation and M&M, while short buildup was seen in TVS Motor, Sun Pharma and United Breweries.

More than 300 stocks, including SBI, Radico Khaitan and Mindtree hit a fresh 52-week high on the BSE.

Technical View

The Nifty formed a small-bodied Bullish candle on daily scale and continued its formation of higher highs - higher lows of the last six sessions.

"Nifty has to hold above 15,300 zones to witness an up move towards life time high of 15,500 and 15,650 zones while on the downside support exists at 15,250 and 15,150 zones," said Chandan Taparia of Motilal Oswal Financial Services.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Rakesh Patil
first published: May 28, 2021 04:25 pm

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