Nifty closed at 16641 up by 1 percent

Nifty near 16700

Nifty near 16700. After two days of losses, benchmark indices bounced back, closed in green today at 16641 up by 0.96 percent.

The advance-decline ratio was 1.25 today, and the market breadth was positive. The volatility index India Vix, on the other hand, decreased 0.22 percent to settle at 18.13. Furthermore, FIIs were net sellers for the third straight day.

DAILY MARKET ACTION
Advancers – 1177
Decliners – 943
52Wk High – 35
52Wk Low – 29
High Band Hitters – 92
Low Band Hitters – 56
200d SMA – 17034
50d SMA – 16099
20d SMA – 16199

Top Gainers and Losers

The top gainers were Sun Pharmaceutical (+3.18%), SBIN (+2.75%), Dr. Reddy’s Laboratories (+2.63%), Larsen & Toubro (+2.52%), and TCS (+2.31%).

Meanwhile, the top losers were Bharti Airtel (-1.33%), Bajaj-Auto (-1.09%), HDFC Life (-0.33%), and Kotak Bank (-0.32%).

Sectors & Broader Indices

The top gainers were Pharma (+2.33%), Media (+2.12%), IT (+1.68%), Realty (+1.07%), and Financial Services (+0.87%).

On the sectoral front, most of sectoral indices closed in the green. Pharma, Media, IT, Realty, and Financial Services were the biggest gainers. The broader indices followed the benchmarks. The Nifty Midcap 50 was up 0.81 percent and the Small cap 50 was up 0.48 percent.

SECTORS – NOTABLE ACTION
PHARMA+2.33%
MEDIA +2.12%
IT +1.68%

Daily Pivots

Benchmark indices are above 20-day and 50-day moving averages.

The Nifty trading range for tomorrow is 16500 to 16720.

Read previous -Daily Insights- here
Windfall tax rolled back
Nifty below 16000
Market at a standstill

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