Analysts however advise caution, suggesting that investors may resort to profit booking at these elevated levels, resulting in some consolidation in short-term.
BSE Midcap index shed 0.7% and Smallcap indices declined 0.4%. Among sectors, except consumer durables, IT all other sectoral indices ended in the red with realty, telecom, pharma, realty, oil & gas, media, PSU Bank, auto down 0.3-2%. Tata Motors, UltraTech Cement, Jio Financial, ONGC, NTPC were among major losers on the Nifty, while gainers were Titan Company, Infosys, TCS, Tech Mahindra and Bharti Airtel.
Jio Financial, Bharti Airtel, Eternal, Eicher Motors, HCL Technologies were among major gainers on the Nifty, while losers included Trent, Tata Motors, Axis Bank, Tata Consumer and HUL.
Dalal Street maintained its upward momentum for the fourth consecutive session. The Nifty index climbed to an intraday high of 25,220, but encountered some profit booking.
Gold rate today: Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on October 7.
Despite persistent FII selling, the Nifty 50 and Sensex have risen for four consecutive sessions, driven by strong DII buying and hope for improving earnings growth.
Despite persistent FII selling, experts advise investors to buy-on-dips as the bulls remain in control, despite the volatility.
As long as Nifty holds above 24,950 and Bank Nifty sustains above 55,700, dips are expected to attract buying interest, keeping the broader uptrend intact, noted analysts .
Among sectors, energy, oil & gas, pharma, telecom, consumer durables rose 0.3-2%. BSE Midcap index added 0.4% and smallcap index was ended marginally lower. Jio Financial, Bharti Airtel, Eternal, Eicher Motors, HCL Technologies were among major gainers on the Nifty, while losers included Trent, Tata Motors, Axis Bank, Tata Consumer and HUL.
Nearly 200 stocks touched their 52-week high on the BSE, including KIOCL, Fortis Healthcare, Nykaa, Poonawalla Fincorp, Bank of Baroda, Muthoot Finance, Canara Bank, Hindustan Copper, Indian Bank, Aditya Birla Capital, Nippon Life India Asset Management, L&T Finance, among others.
Gold rate today: Check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on October 6.
Indian markets continued their winning streak for a third session on October 6, driven by financials and positive Q2 updates. Investors shifted focus to two major IPOs — Tata Capital and LG Electronics India — even as attention turns to TCS results kicking off this week.
Biggest Nifty gainers were Max Healthcare, Shriram Finance, Apollo Hospitals, TCS, Tech Mahindra, while losers included Tata Steel, Adani Ports, Power Grid Corp, ITC and NTPC. Among sectors, IT index rose 2 percent, healthcare index rose 1 percent, private bank index up 1.2 percent, oil & gas index up 0.7 percent and PSU Bank index was up 0.4 percent, while metal, media, FMCG, down 0.3-0.9 percent. The BSE midcap index rose 0.7 percent, while smallcap index ended marginally lower.
Most importantly, with no weekend votes expected, the Senate's failure to pass funding bills on Friday means the shutdown will enter its sixth day on Monday. The ongoing data blackout, including the non-release of the official jobs report, clouds the Fed’s monetary policy outlook.
The path to internationalize the rupee is fraught with challenges, according to experts
Nearly 180 stocks touched their 52-week high on the BSE, including Tera Software, Netweb Technologies, V2 Retail, L&T Finance, Lumax Industries, Jindal Steel, Goodluck India, Fortis Healthcare, among others
Sensex and Nifty wrapped up the week with nearly one percent gains, lifted by a strong rally in metals and PSU banks, while FMCG and IT pared losses in late trade.
Benchmark equity indices Nifty 50 and 30-share Sensex traded flat in the afternoon session on Friday, October 3, after erasing morning losses.
Metals shone for the third day in a row while autos turned volatile and FMCG stayed weak, keeping the market mood mixed in early trade.
Sensex and Nifty are set for a muted opening on October 3 after an RBI policy-driven rebound lifted banking stocks and revived market sentiment.
Tata Steel, Power Grid Corp, Hindalco, Axis Bank and L&T were among major gainers, while losers included Max Healthcare, Coal India, Maruti Suzuki, Tech Mahindra and SBI Life Insurance. Except pharma, realty, FMCG, all other sectoral indices ended in the green with metal index rose nearly 2 percent, PSU Bank up 1 percent. The BSE midcap index was up 0.8 percent and smallcap index added 1 percent.
The MPC also announced additional measures, including the inclusion of select currencies of India’s major trading partners in the list of reference rates published by Financial Benchmarks India Ltd
Nearly 140 stocks touched their 52-week high on the BSE, including L&T Finance, Fortis Healthcare, Muthoot Finance, Jindal Steel, Canara Bank, Tata Investment Corp, RBL Bank, among others.
Banking and financial stocks led the benchmark indices Nifty 50 and Sensex to snap eight consecutive sessions of losses, as RBI's moves to enhance credit supported the markets.
Banking and financial stocks led the benchmark indices Nifty 50 and Sensex to snap eight consecutive sessions of losses, as RBI's moves to enhance credit supported the markets.
