Bulls back on D-Street
DSIJ Intelligence / 07 Nov 2016
The Indian markets saw a superb rally today, with banks, healthcare and metals leading the way. The Nifty ended higher by 63 points at 8497 and Sensex was up by 185 points at 27458. Both the indices ended higher by around 0.75 per cent.
The Indian markets saw a superb rally today, with banks, healthcare and metals leading the way. The Nifty ended higher by 63 points at 8497 and Sensex was up by 185 points at 27458. Both the indices ended higher by around 0.75 per cent.
The market breadth remained positive till closing hour, with 35 advances and 16 declines on the NSE.
The Bank and Healthcare sectoral indices outperformed the rally in today’s session, going up around 300 points. Metals, Mid-caps and Small-caps were up about 150 points, whereas Oil & Gas and FMCG were down by around 100 points each.
In the Asian markets, the Nikkei closed up 271 points. The Hang Seng index ended up by 158 points, while the Taiwan and Shanghai also ended on a positive note.
European markets were also trading in the positive zone.
Derivative Analysis
Nifty Future sustained above its crucial support level of 8500/8480, If it opens above 8550 level, it may see more recovery.
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