The market extended the previous session gains and ended higher on the Future & Option expiry day, with Nifty reclaiming 17,900 on the back of buying across sectors on April 27.
The market started on a flat note amid mixed global cues but buying in the second half of the session helped the indices close near the day’s high.
The market started on a flat note amid mixed global cues but buying in the second half of the session helped the indices close near the day’s high. The Sensex closed up 348.80 points, or 0.58 percent, at 60,649.38, and the Nifty gained 101.40 points, or 0.57 percent, at 17,915.
Stocks and Sectors
Bajaj Auto, Bajaj Finance, BPCL, Bajaj Finserv and Bharti Airtel were among the biggest gainers on the Nifty, while losers included HDFC Life, HUL, Power Grid Corp, Adani Ports and Axis Bank.
Except power, all sectoral indices ended in the green. Auto, pharma, realty, information technology, capital goods and metal were up 0.5-1 percent.
BSE midcap and smallcap indices added 0.5 percent each.
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| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 84,562.78 | 84.11 | +0.10% |
| Nifty 50 | 25,910.05 | 30.90 | +0.12% |
| Nifty Bank | 58,517.55 | 135.60 | +0.23% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Eternal | 303.75 | 6.00 | +2.02% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Infosys | 1,502.80 | -39.00 | -2.53% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 8399.90 | 96.85 | +1.17% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty IT | 36301.30 | -378.10 | -1.03% |
Outlook for April 28
Ajit Mishra, VP - Technical Research, Religare Broking
The market traded firm on the monthly expiry day and gained nearly half a percent.
Most sectors contributed to the move, with realty, IT and auto gaining the most. The broader indices traded in sync with the trend and gained in the range of 0.5-0.8 percent.
The Nifty has surpassed the hurdle at 17,850 and looks set to move towards the 18,100+ zone. Though it is still a banking-led recovery, we are seeing a marginal improvement in participation from other sectors. Participants should continue with a stock-specific trading approach and align the positions according to the trend.
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Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas:
The Nifty closed above the previous swing high of 17,863, which confirms the start of the next leg of the upmove. On the way up, the index is likely to target levels of 18,100 in the short term.
On the daily charts, the momentum indicator has triggered a fresh positive crossover, which is likely to provide speed to the upmove. Thus, both price and momentum indicators are now in sync and suggest that the current rally will continue.
As long as the Nifty trades above the 17,720–17,700 support zone, positive momentum will continue.
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.
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