Markets Closing: Sensex Ends Above 76,900, Nifty Touches All Time High

Within the Nifty index, several prominent companies, including Eicher Motors, Titan, Adani Ports, Mahindra and Mahindra, and Shriram Finance were among the top gainers. On the other hand, TCS, Tech Mahindra, Wipro, HCL Tech were among the top losers.
Markets Closing

Markets Closing (Image Source: iStockphoto)

On Friday, the Sensex rose by over 100 points, closing at 76,950.81. Meanwhile, the Nifty surged more than 50 points to end at 23,465.60. During intraday trading, the Nifty also reached a new lifetime high of 23,490.40.
Within the Nifty index, several prominent companies, including Eicher Motors, Titan, Adani Ports, Mahindra and Mahindra, and Shriram Finance were among the top gainers. On the other hand, TCS, Tech Mahindra, Wipro, HCL Tech were among the top losers.
Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) sold equities amounting to Rs 3,033.00 crore and Rs 553.88 crore respectively on the previous trading day, as indicated by exchange data.
Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, said, "The BankNifty continued its consolidation phase and was unable to surpass the 50000 mark, where the highest open interest is built up on the call side. The index needs to decisively surpass the 50200 mark to confirm an upside breakout towards the 51000 level. The lower-end support is placed at the 49500-49400 zone, and a break below this will open gates for further downside towards 49000."
Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas, said, "Nifty consolidated for the fifth consecutive day and managed to close in the green up ~67 points. On the daily charts we can observe that the Nifty has been consolidating in the broad range of 23200 – 23500. The more it consolidates around this level the more likelihood of a breakout in the coming week."
He added, "Bank Nifty is facing stiff resistance at the 78.6% Fibonacci retracement level (50050) and has been unable to sustain above it. The consolidation is now five trading sessions old and can resume its upmove during the upcoming week. Incase of dips towards 49500 - 49400 should be used as a buying interest for the target of 50500 – 50600."
Arjit Saxena author

Arjit Saxena is a Senior Correspondent at ET NOW and Times NOW Business Section. He writes on Stock Market, Economy, Startups, Corporates, and Persona...View More

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