Nifty Hits New Closing High in a Fabulous Friday!

At the close, the Nifty 50 was at 18,826.00 up by 0.74%

Today, the NSE Nifty 50 index kicked off on a bullish note, commencing at a higher level and exhibiting a surge of 0.74 percent throughout the trading session. Eventually, it concluded the day on a positive note, remaining in the green zone. Notably, the Nifty index managed to stay above the significant milestone of 18800, further reinforcing its bullish momentum.

The remarkable resilience witnessed in the international markets, particularly in the United States, has played a significant role in sustaining a bullish sentiment in the index, despite the fluctuating signals from domestic sources.

In sectoral performance, the PSU Bank index surged by 1.4 percent, while the Capital Goods index witnessed a 1 percent gain. FMCG and Healthcare sectors also showed positive movement, with both experiencing a 0.5 percent increase. However, the Information Technology index faced a decline of 0.38 percent. Notably, the Nifty FMCG and Nifty Infra indices achieved all-time highs during intraday trading.

Bank Nifty: Up by 1.14%

The Bank Nifty displayed a positive start, opening in the green and recording a gain of 1.14 percent before eventually closing at 43,938.15 while maintaining its upward trajectory. Likewise, the BSE Sensex demonstrated a 0.74 percent increase, concluding the day on a positive note at a significant high of 63,384.58.

The rebound in the market was primarily driven by the resurgence of the banking and financial sectors, accompanied by notable purchases in fast-moving consumer goods, pharmaceuticals, and energy giants. Additionally, the sustained buying interest in midcap and smallcap stocks played a significant role in boosting the overall positive sentiment.

It is worth noting that the banking and financial sectors have been experiencing a steady recovery, which has been a key driver of the market’s recent upswing. Furthermore, the increased investment in FMCG, pharmaceuticals, and energy giants has contributed to the overall growth of the market.

Bank Nifty

The Nifty Banking sector had some gainers and some losers for the day.

The gainers included Bandhan Bank with a 2.67% increase, IDFC First Bank with a 2.53% increase, Bank of Baroda with a 2.48% increase, Punjab National Bank with a 1.69% increase, and Federal Bank with a 1.39% increase. These results suggest that banking stocks performed better for the day.

Buzzing

The decrease in inflation, strong economic indicators, and steady purchasing by foreign institutional investors (FIIs) have boosted domestic confidence. With major events now concluded, we anticipate a sustained positive market trend. The upcoming visit of Prime Minister Modi to the United States next week is of great significance, as it is expected to promote cross-border agreements, particularly in the defense sector. This visit has the potential to further strengthen the economic ties between the two nations and create new opportunities for growth and development. As we move forward, we remain optimistic about the future of the market and the potential for continued success.

At the start of trading on Friday, the Indian rupee experienced a 30 paise appreciation against the US dollar, reaching a value of 81.95. This upward trend was driven by favorable movements in the domestic equities market and a decrease in crude oil prices.

The international benchmark for oil, Brent crude, experienced a decline of 0.62 percent, settling at USD 75.20 per barrel.

The domestic unit began the trading session at the interbank foreign exchange on a positive note, opening at 81.97 and continuing its upward trajectory to eventually strengthen to 81.95. This represents a 30 paise increase compared to its previous closing value.Starting off on a positive note, the domestic unit commenced the trading session at the interbank foreign exchange with an opening value of 81.97. It continued to rise and eventually strengthened to 81.95, marking a 30 paise increase from its previous closing value.

Advance Decline Ratio

Today, the advance-decline ratio was 1.64, and the market breadth was positive. The volatility index India Vix decreased by 2.16 percent to settle at 10.84 and the FIIs were net buyers today.

DAILY MARKET ACTION
Advancers – 1443
Decliners – 882
52Wk High –  142
52Wk Low – 10
High Band Hitters – 76
Low Band Hitters – 41
200d SMA – 17899
50d SMA – 18203
20d SMA – 18563

Top Gainers and Losers Stocks

The top gainers were HDFC Life (+5.89%), SBI Life (+3.24%), Bajaj Finserv (+2.37%), Dr. Reddy (+2.01%), and Titan (+1.75%).

The top losers were Wipro (-2.20%), Bajaj Auto (-1.77%), TCS (-1.21%), BPCL (-0.77%), and ONGC (-0.41%).

Top Gainers and Losers Sector

The top gainers sectors were Financial Services (+1.19%), Media (+1.08%), FMCG (+0.76%), Pharma (+0.62%), and Consumer Durables (+0.55%).

The top losers sectors were IT (-0.38%), and Realty (-0.21%).

The Nifty Midcap 50 was up by 0.82 percent, while the Nifty Small Cap 50 was up by 1.02 percent on the day.

The Nifty Midcap 50 index currently closed at 9,884.20, while the Nifty Small Cap 50 index currently closed at 4,837.15.

SECTORS – NOTABLE ACTION
FINANCIAL SERVICES +1.19%
MEDIA +1.08%
FMCG +0.76%
IT -0.38%
REALTY -0.21%

Stocks Ban List

(SEBI) F&O ban list  (L&TFH open at +118.40 and close at +118.25), (TATACHEM open at -959.00 and close at +970.95), (MANAPPURAM open at -119.95 and close at +125.20), (DELTACORP open at -242.25 and close at +248.30) (ZEEL open at -188.10 and close at +187.15), (INDIACEM open at -224.65 and close at +223.85), (IBULHSGFIN open at -113.50 and close at -112.95), (BHEL open at +86.00 and close at +86.75), and (IEX open at +125.45 and close at +125.80) are not currently on the stock exchange.

The Securities and Exchange Board of India (SEBI) has banned L&TFH, TATACHEM, MANAPPURAM, DELTACORP, ZEEL, INDIACEM, IBULHSGFIN, BHEL, and IEX from trading in the futures and options (F&O) segment of the stock exchange.

A stock enters the Ban List if its MWPL is above 95%. Implying that, Ban List shows the Futures and Options (FnO ) stocks whose combined open interest in all FnO contracts for a given period crosses 95% of Market-Wide Position Limit.
BALRAMCHIN, HAL, HINDCOPPER, RBLBANK, GNFC, and PNB Face Possible Entry in Ban List.

IBULHSGFIN, BHEL, and IEX has the possibilities of exit from the ban list.

Daily Pivots

As per the above pivots data, 18730 to 18900 is the Nifty 50 trading range.

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This article is only for educational purposes and is not an investment advice.