The Indian benchmark indices erased all the previous-session losses and ended on a positive note on November 15, amid buying across the sectors.
At close, the Sensex was up 742.06 points or 1.14 percent at 65,675.93, and the Nifty was up 232 points or 1.19 percent at 19,675.50. The index surpassed 19,600 for the first time since October 19.
On the back of positive global cues, the Indian indices started gap-up and extended the gains as the day progress with Nifty inching closer to 19,700.
Also Read - Softer US CPI tailwind for Indian share market; expect FIIs to return, financials, auto to outperform
Stocks and Sectors
Eicher Motors, Tech Mahindra, Hindalco Industries, Tata Motors and Infosys were among the top gainers on the Nifty, while losers were Bajaj Finance, Power Grid Corporation, IndusInd Bank.
All the sectoral indices ended in the green with capital goods, auto, metal, information technology, oil & gas and realty up 1-3 percent.
BSE Midcap and Smallcap indices were up 1 percent each.
Index | Prices | Change | Change% |
---|---|---|---|
Sensex | 80,983.31 | 715.69 | +0.89% |
Nifty 50 | 24,836.30 | 225.20 | +0.92% |
Nifty Bank | 55,347.95 | 712.10 | +1.30% |
Biggest Gainer | Prices | Change | Change% |
---|---|---|---|
Tata Motors | 718.35 | 38.15 | +5.61% |
Biggest Loser | Prices | Change | Change% |
---|---|---|---|
UltraTechCement | 12,095.00 | -127.00 | -1.04% |
Best Sector | Prices | Change | Change% |
---|---|---|---|
Nifty Bank | 55347.90 | 712.10 | +1.30% |
Worst Sector | Prices | Change | Change% |
---|---|---|---|
Nifty PSU Bank | 7499.20 | -27.55 | -0.37% |
A long build-up was seen in Multi Commodity Exchange of India, Mphasis and Coforge, while a short build-up was seen in NMDC, Bajaj Finance and Tata Communications.
Among individual stocks, a volume spike of more than 400 percent was seen in GNFC, Siemens and Multi Commodity Exchange of India.
More than 350 stocks touched their 52-week high on the BSE including Network 18 Media, NESCO, Welspun India, Phoenix Mills, Motilal Oswal, Oberoi Realty, Bikaji Foods, Eicher Motors, Suzlon Energy and Narayana Hrudayalaya. Click here for the full list
Outlook for November 16
Aditya Gaggar Director of Progressive Shares:
Following strong domestic as well as global cues, Nifty50 commenced the day on a firm note and gradually compounded its gains to settle at 19,675.45, advanced by 231.90 points. All the sectors ended the day in green with Realty, IT, and Auto being the outperformers.
On a daily chart, the Index has made a long-legged DOJI candlestick pattern and not only breached its falling trendline but also gave a convincing close above its 50DMA (19,580) which shows bullishness in the markets. Now the next critical hurdle for the Index stands at 19,840 while the downside is protected at a strong support zone of 19,550-19,580.
Ajit Mishra, SVP - Technical Research, Religare Broking:
Markets made a firm start and gained over a percent, tracking upbeat global cues. After the gap-up start, Nifty remained in a narrow range in the first half. However, buying in select heavyweights pushed the index higher as the session progressed. Consequently, it settled around the day’s high at 19675.45 levels. All sectors participated in the move wherein realty, IT and auto were among the top performers. The broader indices also traded in sync and gained nearly a percent each.
Nifty has decisively crossed the trend line hurdle and looks set to test 19,850 now. Interestingly, noticeable contributions from heavyweights like Reliance, Infosys and TCS, which were on the sidelines, largely fuelled the up move. And, we expect their participation to continue thus reiterating our view to maintain a “buy on dips” approach and focus on stock selection.
Disclaimer: The views and investment tips expressed by investment 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.
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