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Sensex, Nifty Register First Weekly Gains In Four

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Closing Bell: Sensex, Nifty Register Their First Weekly Gains In Four

Indian equity benchmarks ended their three-week losing streak.

The S&P BSE Sensex closed 0.51 percent higher this week to end at 39,394.64 and the NSE Nifty 50 closed at 11,788.85, up 0.59 percent. The broader market index represented by the NSE Nifty 500 Index closed 0.81 percent higher this week.

Today, the 31-stock index closed 192 points or 0.48 percent lower and the 50-share gauge closed 0.45 percent lower. The 500-share index ended 0.35 percent lower.

The market breadth was tilted in favour of sellers. About 919 stocks declined and 822 shares advanced on National Stock Exchange.

Eight out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Metal Index’s 1.14 percent decline. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral gainer, up 0.77 percent.

Fab Four Stocks Of The Day

Excel Industries

  • Stock rose as much as 5.3 percent to Rs 988.95.
  • The company acquired chemical manufacturing unit of NetMatrix Cropcare for Rs 95 crore. The said unit was commissioned in May for manufacturing of a pesticide intermediate.

Canara Bank

  • Stock rose as much as 4.7 percent, the most in over a month, to Rs 291.80.
  • Fresh longs seen high OI at 41 percent.

DLF

  • Stock rose as much as 3.1 percent to Rs 191.35.
  • The company completes warrant conversion. Promoters infused last tranche of Rs 2250 crore.

Rupa & Co

  • Stock rose as much as 16.1 percent to Rs 276.40.
  • Trading volume was almost 50 times its 20-day average.

Market Check: Sensex, Nifty Head For First Weekly Gains In Four

Indian equity benchmarks set to clock their first weekly gains in four.

The S&P BSE Sensex gained 0.47 percent so far this week and the NSE Nifty 50 rose 0.55 percent. The broader market index represented by the NSE Nifty 500 rose 0.8 percent so far this week.

Today, the 31-share index fell 153 points to 39,430 as of 3 p.m and the 50-stock gauge traded below 11,793.90, down 0.4 percent. The 500-share index traded 0.35 percent lower.

Expects Further Selling In Nifty From Current Levels, Rahul Randeria Says

Independent market expert Rahul Randeria said that the Nifty could see further selling at current levels.

“The Nifty has formed a ‘Head and Shoulder’ on the daily chart. The Index formed an inverted hammer yesterday and also made a high near its right shoulder level. The Nifty has broken from yesterday’s low and the momentum is slipping from the current trend,” Randeria told BloombergQuint in an interaction.

Randeria suggests investors to sell at current levels with a stop-loss of 11,850 and intraday target of 11,740 if they want to sell today.

Bharat Dynamics Jumps Nearly 8% On Heavy Volumes

Shares of Bharat Dynamics extended gains for the fourth consecutive trading session, their longest gaining streak in a month.

The stock rose as much as 7.9 percent, the most in over two weeks, to Rs 339, their highest level since May 28.

Trading volume was almost 16 times its 20-day average, Bloomberg data showed. Of the shares traded, 47 percent were at the ask price and 33 percent were at the bid.

Market Check: Sensex Nifty Trade Lower

Indian equity benchmarks continued to trade lower.

The S&P BSE Sensex fell 114 points to 39,472 as of 2 p.m. and the NSE Nifty 50 traded near 11,800, down 0.28 percent. The NSE Nifty Bank Index staged a U-turn after the 12-share gauge recovered over 200 points from day’s low.

The market breadth was tilted in favour of sellers. About 900 stocks declined and 789 shares advanced on National Stock Exchange.

Sensex, Nifty Register First Weekly Gains In Four

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