Indices end at day’s high! Bajaj twins steal the show

Rohit Kale
/ Categories: Trending, Mkt Commentary
Indices end at day’s high! Bajaj twins steal the show

Market update at 3.45 pm: It has been a great day for the Indian market as the benchmark indices i.e. Nifty and Sensex climbed about 1.71 per cent each. The broader indices of Nifty Midcap 100 and Nifty Smallcap 100 ended higher by 1.61 per cent & 1.83 per cent, respectively. 

The sectoral indices ended in green too with Nifty PSU Bank emerging as the top gainer. Bajaj twins supported Nifty as both were up by over 3 per cent each. 

Bulls have dominated the market for two consecutive days now with Nifty shooting up almost 600 points during this period. It is yet to be seen whether the sentiment has really changed or is this just a normal pullback. 

 

Market update at 1.15 pm: Nifty and Sensex hold on to their morning gains as both are up by 1.3 per cent each. The broader indices, too, are trading in green. 

The sectoral indices are also going strong, with every sector gaining more than a per cent. Bajaj Finance and ICICI Bank emerged as the top gainers till the afternoon. The next hurdle for Nifty is 17,500 and closing above this level would mean relief for the bulls. 

 

Market update at 10.30 am: Nifty continues to gain momentum as it soared 236 points or 1.38 per cent. Bank Nifty gained over 500 points, ahead of RBI policy meet. India VIX has crashed another 5 per cent.  

All the sectoral indices are trading in green. The broader indices of Nifty Midcap and Nifty Smallcap, too, are trading over 1 per cent each. As much as 1,549 stocks are advancing and mere 246 stocks are declining. Natural gas is up by 2 per cent. Overall, the start has been good for the Indian market, and it would be interesting to see if Nifty holds on to its gains till the end.  

 

Pre market update: Tuesday had been a magnificent day for Nifty as it gained about 264 points or 1.56 per cent. After a disastrous start for the week, this V-shape recovery is a much more relief for the bulls. Nifty tested 17,200 levels but was not able to close above it. 

All the sectoral indices ended in green, which was the exact opposite case on Monday. It was a broad based rally as Nifty Midcap 100 and Nifty Smallcap 100 gained about 1.4 per cent & 1.09 per cent, respectively. Moreover, India VIX fell about 8 per cent.

On Tuesday, as the Indian market closed, the European markets and US Futures traded higher. Dow and NASDAQ both ended in green with NASDAQ surging 3 per cent.

As the global sentiments look good. Most of the Asian markets are trading higher with SGX Nifty indicating over 100 points gap-up.  

Nifty is likely to open in similar fashion and it would be interesting to see how the day progresses. 

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