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Taking Stock: Nifty rallies for 9th session; small & midcaps underperform

Sectorally, the S&P BSE Energy index rose 1.5 percent, followed by the S&P BSE IT which was up 1.4 percent, and the S&P BSE Power index closed with gains of 0.67 percent.

October 13, 2020 / 18:16 IST

Bulls displayed their strength as Nifty managed to recoup losses and closed in the green for the 9th consecutive day in a row on October 13.

Let’s look at the final tally on D-Street – the S&P BSE Sensex rose 31 points to 40,625 while the Nifty50 closed with marginal gains of 3.5 points to 11,934.

Stimulus announced by the government ahead of the festival season failed to lift sentiment which led to some consolidation on the D-Street. Going forward, consolidation is expected as Nifty trades near overbought levels.

"Market consolidated due to lower than anticipated stimulus package and the large part of the positive Q2 results announced till date is well factored in the prices,” Vinod Nair, Head of Research at Geojit Financial Services told Moneycontrol.

“The momentum may reverse into a narrow-range, in the near-term, while the undercurrent of the rally is still positive and a break-up is likely based on the continuity of positive results, more fiscal measures in the future and developments in the global market. Today, the banking sector lost some grounds due to adjournment of moratorium hearing to the next day,” he said.

Sectorally, the action was seen in Energy, IT, power, and metal stocks while profit-taking was visible in healthcare, consumer durables, and finance stocks.

On the broader markets front – the S&P BSE Midcap index closed 0.29 percent lower while the S&P BSE Smallcap index closed with losses of 0.12 percent.

Top Nifty gainers were Infosys, Kotak Bank, and HCL Technologies.

IndexPricesChangeChange%
Sensex84,929.36447.55 +0.53%
Nifty 5025,966.40150.85 +0.58%
Nifty Bank59,069.20156.35 +0.27%
Nifty 50 25,966.40 150.85 (0.58%)
Fri, Dec 19, 2025
Biggest GainerPricesChangeChange%
Shriram Finance901.7032.25 +3.71%
Biggest LoserPricesChangeChange%
HCL Tech1,642.40-19.00 -1.14%
Best SectorPricesChangeChange%
Nifty Auto27657.25335.35 +1.23%
Worst SectorPricesChangeChange%
Nifty Metal10521.104.95 +0.05%

Top Nifty losers were Divi’s Laboratories, Adani Ports, Titan and Cipla.

Stocks & Sectors

Sectorally, the S&P BSE Energy index rose 1.5 percent, followed by the S&P BSE IT which was up 1.4 percent, and the S&P BSE Power index closed with gains of 0.67 percent.

Profit-taking was seen in the S&P BSE Healthcare index which was down 1.2 percent, followed by the S&P BSE Consumer Durables index which fell 1.1 percent, and the S&P BSE Bankex was down 0.79 percent.

Volume spike of more than 100 percent was seen in stocks such as Exide Industries, BHEL, Lupin, and Vedanta.

Long Buildup was seen in stocks like Vedanta, Coforge, and Ambuja Cements.

Short Buildup was seen in stocks like REC, LIC Housing, and Escorts.

More than 100 stocks on the BSE hit a fresh 52-week high. These include Coforge, L&T Technology Services, and JK Cement.

Technical View

Nifty formed a Doji pattern on the daily charts

Nifty consolidated in the broader trading range of 11,888 to 11,988.

“It continued the formation of higher lows of last twelve trading sessions but failed to surpass previous day’s high and a psychological 12,000 mark,” Chandan Taparia of Motilal Oswal Financial Services Limited said.

“Now it has to continue to hold above 11,850 zones to witness an up move towards 12,000 then 12,100 zones, while on the downside major support exists at 11,750 levels,” he added.

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.
Kshitij Anand
Kshitij Anand is the Editor Markets at Moneycontrol.
first published: Oct 13, 2020 04:49 pm

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