After a subdued previous session, the bulls were back in action on September 16 helping Nifty to reclaim 25,200 for the first time since August 23, led by buying across the sectors.
At close, the Sensex was up 594.95 points or 0.73 percent at 82,380.69, and the Nifty was up 169.90 points or 0.68 percent at 25,239.10. Broader indices performed inline with main indices with BSE Midcap and smallcap indices rising 0.6% each.
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Except FMCG, all other sectoral indices ended in the green with auto, realty, telecom up 1% each.
Kotak Mahindra Bank, L&T, Maruti Suzuki, Bharti Airtel, Tata Steel were among major gainers on the Nifty, while losers were Shriram Finance, Bajaj Finance, Tata Consumer, Nestle, Asian Paints.
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In stock-specific action, Transrail Lighting share price shed nearly 2% despite new orders worth Rs 421 crore, Suzlon shares gained 2% on winning largest FY26 order of 838 MW from Tata Power Renewable Energy, Sanghvi Movers share price surged 4% on orders win worth Rs 292 crore.
Mishra Dhatu Nigam share price added 1% on winning order worth Rs 136 crore, NCC shares gained 2% on receiving contract worth Rs 2,090.5 crore, Insolation Energy shares rose 1.6% on LOA for grid connected solar power plants, Patel Retail share price slipped 4% despite Q1 profit rises 13%, John Cockerill India shares added 3% on bagging contract from Tata Steel, L&T share price added 2.2% on winning order from NPCIL, Cyient share price rose 4% on strategic partnership with Anora.
Index | Prices | Change | Change% |
---|---|---|---|
Sensex | 82,500.82 | 328.72 | +0.40% |
Nifty 50 | 25,285.35 | 103.55 | +0.41% |
Nifty Bank | 56,609.75 | 417.70 | +0.74% |
Biggest Gainer | Prices | Change | Change% |
---|---|---|---|
Cipla | 1,561.80 | 48.70 | +3.22% |
Biggest Loser | Prices | Change | Change% |
---|---|---|---|
Tata Steel | 173.86 | -2.56 | -1.45% |
Best Sector | Prices | Change | Change% |
---|---|---|---|
Nifty PSU Bank | 7695.80 | 126.50 | +1.67% |
Worst Sector | Prices | Change | Change% |
---|---|---|---|
Nifty Metal | 10261.55 | -94.65 | -0.91% |
More than 140 stocks touched their 52-week highs on the BSE, including Godfrey Phillips, Aadhar Housing, Zydus Wellness, Amber Enterprises, Muthoot Finance, Manappuram Finance, Maruti Suzuki, L&T Finance, JSW Steel, Cummins India, Anand Rathi, Dalmia Bharat, Radico Khaitan, Asahi India, Sarda Energy, Fortis Healthcare, HBL Engineering, among others. Click to View More
Outlook for September 17
Rupak De, Senior Technical Analyst at LKP Securities
Nifty has given a double bottom breakout on the daily timeframe, indicating rising optimism. The index has been sustaining above the 21EMA, confirming a continuation of the uptrend.
Additionally, the RSI has moved above its previous swing high, further supporting bullish momentum.
In the short term, the trend is likely to remain strong, with potential upside towards 25,500 and beyond. On the downside, support is placed at 25,000, and a break below this level could signal the end of the current rally.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities
The range bound action of the last few sessions has eventually resulted in a sharp upside breakout on Tuesday and Nifty closed the day higher by 169 points. After opening with a positive note, the market continued with upside momentum for better part of the session. The upside got strengthened towards the end and Nifty closed at the highs.
A long bull candle was formed on the daily chart which indicates a sharp upside breakout of the hurdle of previous swing high of 21st Aug at 25150 levels and Nifty closed higher. This is positive indication and signal bulls are back into the scene after an upmove with choppy movement in the last 6-7 sessions.
The short-term trend of Nifty continues to be positive. Having surpassed the key hurdle at 25150, Nifty could advance towards the next resistance of 25400-25500 levels in the near term. Immediate support is placed at 25100 levels.
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 decision.
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