The market witnessed a historic day as benchmark indices clocked fresh record highs, with the Sensex clocking 31,000 for the first time ever, along with the Nifty at 9600. The Nifty Bank also hit a record high during the Friday’s trade.
The Sensex ended 278.18 points higher at 31028.21, while the Nifty closed up 85.35 points at 9595.10. The market breadth was healthy as 1,810 shares advanced against a decline of 854 shares, while 182 shares were unchanged.
Private sector banks fired on all cylinders along with midcaps, metals as well as auto stocks, the indices of which on the Nifty gained the most. Meanwhile, pharma stocks continued to bleed and sulk on the back of poor outlook for the sector in the US as well as bad results at home.
ITC and HPCL gained on the back of positive earnings momentum, while large caps such as Reliance Industries contributed heavily to the market’s gain.
HEADLINES OF THE DAY
Ashok Leyland spurts as Q4 tax credit leads to profit beat.
HPCL net profit beats estimate.
ITC net profit at Rs2669 cr; Revenue meets estimate.
UPCOMING RESULTS: CADILAHC, CANBK, IGL, INDIACEM, PTC, RCOM, ZYDUSWELL, ADANIPOWER, ADANITRANS, IPCA, AUROPHARMA, BHEL, BPCL, COALINDIA, DREDGIND CORP, GNFC, LT, OIL, NTPC, POWERGRID.
The crucial resistance for Nifty spot is now seen at 9600 and above this 9670.Support for the immediate term is now placed at 9540 and next support will be 9460.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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