Bulls charge and Nifty surges by 126 points
DSIJ Intelligence / 03 Oct 2016
The Indian markets saw an unexpected rally today, with auto, Bankex and metals leading the day. The Nifty ended higher by 127 points at 8738 and Sensex was up by 377 points at 28243. Both the indices ended higher by around 1.4 per cent.
The Indian markets saw an unexpected rally today, with auto, Bankex and metals leading the day. The Nifty ended higher by 127 points at 8738 and Sensex was up by 377 points at 28243. Both the indices ended higher by around 1.4 per cent.
The market breadth remained positive till closing hour, with 48 advances and 3 declines on the NSE.
Majority of the sectoral indices closed positive during today’s session. Auto was top the gainer, up by 543 points. While Bankex, capital goods and consumer durables were up by around 300 points each. Mid-caps, small-caps and metals also were up by more than 250 points.
In the Asian markets, the Nikkei closed up by 148. Hang Seng index ended up by 287 points. While the Taiwan and KOSPI also ended on a positive note.
European markets were also trading in mixed scenario.
Derivative Analysis
Nifty future closed at 8750, if it sustains above the coveted 8800 level, it may see more upward moves.
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