Indian equity indices ended higher on April 10 with Nifty hitting fresh record high and Sensex also inched closer to its all-time high ahead of FOMC minutes and US inflation data later today.
At close, the Sensex was up 354.45 points, or 0.47 percent, at 75,038.15, and the Nifty was up 111 points, or 0.49 percent, at 22,753.80.
Nifty Midcap 100 and Bank Nifty also touched their respective record highs in today's session.
The market will remain shut on April 11 on account of Ramzan Id.
Top gainers on the Nifty included Coal India, BPCL, Kotak Mahindra Bank, ITC and Hindalco Industries, while losers were Cipla, Maruti Suzuki, HDFC Life, Divis Labs and SBI Life Insurance.
Except pharma, all other sectoral indices ended in the green with media, PSU Bank, FMCG, metal, oil & gas stocks were up 1-2 percent.
BSE Midcap and Smallcap indices were up 0.5 percent each.
Among individual stocks, a volume spike of more than 300 percent was seen in Atul, Navin Fluorine International, United Spirits.
A long build-up was seen in Vedanta, Navin Fluorine International and United Spirits, while a short build-up was seen in Info Edge, Tata Communications and Cipla.
More than 150 stocks touched their 52-week high on the BSE including Aarti Industries, ICICI Bank, NTPC, M&M, Aegis Logistics, Castrol India, HEG, Honeywell Automation, Inox Green, Interglobe Aviation, KSB Pumps, Laurus Labs, Lloyds Metals, PB Fintech, Petronet LNG, SAIL, United Spirits, Vedanta, among others. Click to view full list
Outlook for April 12
Rupak De, Senior Technical Analyst, LKP Securities
The Nifty mostly remained sideways today as investors preferred to wait ahead of the US CPI inflation data, which could potentially impact rate cuts by the Fed. The resistance zone is placed at 22,700-22,750, while support is at 22,600. A decisive move above 22,750 might induce a rally towards 23,000 in the short term. Since the market appears to be range-bound, buying on dips and selling on rallies might prove to be a good strategy with proper stop-loss measures.
Aditya Gaggar Director of Progressive Shares
Following the GIFT Nifty indication, Indian bourses commenced the day on a firm note around 22,700, and remained range bound till the afternoon session. A sharp uptick in the Banking and FMCG counters pushed the Index higher to settle the weekly expiry day at a record closing of 22,753.80 with gains of 111.05 points. Apart from Banking, Metal stocks contributed the most to the Index rally, and on the flip side, Pharma and Auto were the losers in today's trade. With gains of 0.97% & 0.73%, Mid and Small Caps outperform the Nifty50.
The overall chart set-up of Nifty50 is strong and indicates an extension of the current up move to achieve a psychological target of 23,000 with the downside being protected at 22,530.
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