Market rallies 3rd day in a row after Budget

Indian markets started the day on a subdued note on the last day of the week. The markets traded in a very narrow range, even as Nifty failed to hold the level of 8750. However, both the bourses closed the day on a positive note on the third consecutive day after the budget.

BSE Sensex and Nifty indices rose 0.05 per cent and 0.08 per cent, respectively. At the closing bell, Nifty increased 6 points to close at 8740 and the BSE Sensex rose 13 points and closed at 28240. On the NSE, 25 shares closed in the green, while 25 shares ended the day in the red, with one remaining unchanged.

All sectoral indices closed in the green, except Auto, Consumer Durables, Metals, Oil & Gas and FMCG. Healthcare rose more than 241 points. Bankex and Capital Goods rose more than 100 points each. However, Auto and Consumer Durables declined 177 points and 99 points, respectively. Mid-cap and Small-cap indices increased 80 points and 140 points, respectively.

Asian markets traded in mixed sentiment on Friday. Shanghai and Hang Seng declined 0.6 per cent and 0.24 per cent, respectively. KOSPI and Nikkei rose 0.10 per cent and 0.02 per cent, respectively. Taiwan’s TAIEX increased 0.28 per cent.

European markets were also trading in a positive sentiment.

Derivative Analysis

Nifty future closed on a positive note to close at 8757. Going ahead, 8802/8703 will be the immediate support levels.