Today’s Action:
Benchmark Indices tracked positive cues from its global peers and extended their gains in today’s trading session. Broader and sectoral indices followed the frontline indices.
Daily Market Review
After crossing the 10K mark yesterday, the benchmark indices extended their gains during the last hour of the trading session. The Sensex gained almost 276 points today to cross the 32k mount, while the Nifty made a move towards the 10,100 mark. This up move in the indices could be attributed to the positive global cues.
In today’s session, the Nifty started positive at 10,056.85 and hit an intraday high of 10,097.55. After trading in the range of 10,028.05-10,097.55 and ended the day with gains of 0.87% to settle at 10,093.05. Similarly, the BSE Sensex opened at 32,158.66 and traded in the range of 31,950.24-32,172.46, before ending the day with gains of 0.87% at 32,158.66.
The market breadth, indicating the overall health of the market, was tilted towards the gainers in today’s session. On the NSE, 889 stocks advanced, compared with 595 stocks declining, and 49 stocks remaining unchanged.
Broader indices also put up a great show today. The Nifty Midcap and the Smallcap both posted gains of 1.05% each.
Today, the MarketSmith India IND 47 Index, which lists the top 47 stocks in chart on fundamental characteristics, gained 0.76% today.
In the sectoral chart, all the sectors ended in green with Nifty Pharma, Realty, and FMCG being the top gainers gaining 2.18%, 2.04%, and 1.42% respectively.
DLF got a nod for a commercial project in Goa worth INR 240 crore. The proposed commercial complex is to be constructed on an 18,120-square meter plot and will have eight screen multiplexes for small gatherings and it will be first of its kind in Goa.
HDFC Bank today surpassed Tata Consultancy Services (TCS) to become the country’s second most valued firm in terms of market value. Reliance Industries Ltd is the most valued firm presently with a market cap of INR 5,33,1808.72 crore.
The Finance Ministry yesterday announced the hike in a quantum of cess to be levied on cars, following which the new rates came into effect. The GST rate on mid-size cars will be 45% and 48% for sedans and others cars.
Today, the Sensex observed a lower volume, while the Nifty observed a higher trading volume compared to yesterday’s trading session. The total distribution day count remains 5 for the Sensex and 6 for the Nifty. The Indian market status remains in Uptrend Under Pressure.
Current Outlook:
– Be cautious with any new purchases.
– Make a defensive game plan for your portfolio.
– Stay disciplined and exercise sound sell rules.
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