Sensex, Nifty Post Longest Winning Streak In Over A Month
Sixth Day Of Gains For The Markets
Indian equities ended higher for the sixth day in a row as sentiment continued to remain risk-on, post the Union Budget presentation last week.
The S&P BSE Sensex ended 1.2% higher at 51,348 while the NSE Nifty 50 ended above the mark of 15,000 for the first time ever, gaining 1.3% to close at 15,115. Both benchmark indices lodged new record highs in today's session.
The Sensex has risen close to 5,000 points in the last six trading sessions, while the Nifty has gained close to 1,500 points.
Among the sectoral indices, the Nifty Bank index failed to hold the mark of 36,000 for the second day in a row, but ended higher for the eighth straight day, with gains of 0.9%.
The outperformers in today's session were Autos and Metal stocks, with both the respective indices ending with gains of over 3% each.
The PSU Bank index and the FMCG index were the only laggards in today's session. The index of state-run banks ended 1% lower while the FMCG index declined 0.5%.
Broader markets outperformed the benchmarks in today's session. Both Nifty Midcap and Nifty Small cap ended with gains of 1.5% each.
The India Volatility Index rose 2.3% to end at 23.96.
1,164 stocks on the NSE ended with gains while 746 stocks ended lower.
How Did The Sectoral Indices Fare
Buzzing Stock: Exide Industries
- Gains as much as 6.4% to Rs 216.7
- Trading at the highest since May 2019
- Biggest single-day gain in over two months
- Today's volumes are quadruple its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 71
- 20 out of the 26 analysts tracking the stock have a 'buy' recommendation; 2 sell calls
- Return potential of the stock as per Bloomberg data is 3.6%
Markets Set For Sixth Day Of Gains
- Benchmark indices poised for longest winning streak in a month
- Nifty up 1.5% at 15,143
- Sensex up 1.5% at 51,474
- Nifty Bank up 1.4% at 36,152
- Nifty Midcap index up 1.7%
- Nifty Small cap index up 1.7%
- India Volatility Index up 2.5% to 24
- Nifty Auto index remains the top sectoral gainer; up 2.5%
- Nifty Metal and Nifty I.T. indices gain over 2% each
- Nifty Realty gains 1.9% while Nifty Media index gains over 1%
- Mahindra & Mahindra remains the top Nifty gainer; up 6.7%
- Britannia remains the top Nifty laggard; down 1.8%
- 1,220 stocks on the NSE trade with gains while 665 decline