Sensex, Nifty Post Third Straight F&O Series Advance
Closing Bell: Gains For The Series
Indian equity markets gave up the modest gains of the session to close the August F&O series on a subdued note.
The S&P BSE Sensex ended little changed at 39,113 while the NSE Nifty 50 too ended flat at 11,559.
Both Sensex and Nifty have posted gains for the August series - their third successive F&O series gain.
The real estate index was the top sectoral gainer in today's session, ending 6.2% higher. This was the biggest single-day gain for the index in two months.
Nifty PSU Bank, Nifty Pharma and Nifty Auto were the other major sectoral gainers, ending with gains of over 1% each.
The Nifty Bank ended 0.9% higher, gaining for the fifth straight day. The index has gained over 1,500 points in the last five trading sessions.
Nifty FMCG and Nifty I.T. were the only sectoral laggard, ending 0.3% and 0.1% lower respectively.
Broader markets ended little changed but managed to post gains. The Midcap index ended 0.2% higher while the Smallcap index gained 0.5%. Both the indices ended higher for the ninth straight session. This is the longest winning streak for the midcap index in seven months.
The India Volatility Index ended 2.2% lower at a six-month low of 18.9.
Market breadth was even with 917 stocks on the NSE ending with gains while 888 declined.
How Did The Sectoral Indices Fare
Some Other Stocks In Focus
- Blue Star: Stock breaks above its 200-Day Moving Average of 642. Gains as much as 16% to Rs 723.7. Stock up for the sixth straight day.
- Dixon Technologies: Stock trades at an all-time high. Rising for the eighth straight day.
- Affle India: Snaps four-day gaining streak during which it had three upper circuits of 10% and one of 5%. The stock is in a lower circuit of 5% in today's session.
Buzzing Stock: TCNS Clothing
- Among the top performing stocks on the Nifty 500 index
- Gains as much as 13.1% to Rs 463.9
- Biggest single-day gain on record
- Trades at the highest level in five months
- Up for the fourth straight day
- Has declined only once in the last nine trading sessions
- Gained 30% in the last nine trading sessions
- Today's volumes are over five times higher than its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 82
- Nearing 200-Day Moving Average of 473.6
- Has gained 57% from its 52-week low of Rs 295 on March 25, 2020
- Four out of the eight analysts tracking the stock have a buy recommendation; 2 sell calls
- The stock trades 11% higher than its 12-month consensus price target of Rs 394.8, implying a negative return potential