Stock market rally from days low, ending this week’s bearish trend. All sectoral indices ended the week on positive notes.NIFTY closed the day above 8700 and SENSEX ABOVE 29900.
NIFTY opened the day on a positive note following global clues but turned bearish for a while and kept on rising through the day.It hit a high of 8883 points in the afternoon session. Last 2 hours saw extremely volatile sessions and saw swings of more than 300. Finally it closed the day with 482 (5.83%) higher than yesterday’s close.
Sensex also ended day on high note at 29,915.96 (+1627.73 +5.75%).Only HDFC bank and IndusInd bank saw drop in prices.Sensex rally was predominantly led by ONGC, Ultratech, HUL, Reliance; each of them rising more than 10%.
Today’s stock market bounced back was led by energy, IT, FMCG and metal stocks. Bharti infratel was the biggest gainer with 22.6 % gain followed by ONGC (+17.7%) and GAIL (16.4%).
Bank nifty had extreme volatility and saw swing of 1659.5 points from days low. It closed marginally up at 191.05 (+0.95%).Bandhan Bank was top gainer with 17 % spike in price. Surprisingly Sectors leaders such as HDFC Bank, Axis bank,IndusInd bank and RBL bank closed in red losing between 0.76 – 3.73 %.
Let see how sectoral indices performed today.
|Sr No||Sectoral indices||Gain/loss|
|4||Nifty Financial Services||+2.96%|
|10||Nifty PSU bank||+1.81%|
|12||Nifty Private bank||+1.11%|