The S&P BSE Sensex rallied as much as 306 points in trade on Monday while the Nifty surged above its crucial resistance level of 9,650 to record a fresh breakout on the index.
Tracking the momentum, as much as 136 stocks hit fresh 52-week highs on the BSE which include names like Can Fin Homes, HDFC Bank, BEML, Lux Industries, Kotak Mahindra Bank, UPL, Colgate Palmolive India Ltd, and Monsanto India Ltd etc. among others.
The star of Monday’s trading sessions was rate sensitive of banking stocks.
The Nifty Bank index rose over 300 points to record its fresh record high of 23,806.65 in trade today, led by gains in Axis Bank, Canara Bank, HDFC Bank, ICICI Bank, IndusInd Bank, SBI, and Kotak Mahindra Bank.
HEADLINES OF THE DAY
Tata Steel surges on plan to sell stake in Tata Motors.
ONGC plans to increase gas production to 37mmscmd in 2018.
Eros Intl signs deal with Turkish company.
The crucial resistance for Nifty spot is now seen at 9710 and above this 9750.Support for the immediate term is now placed at 9590 and next support will be 9547.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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