Monday, 22 July 2024
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Stock Market

Sensex is close to 66,000 and Nifty Metal index rises by more than 1%

  • The NSE Nifty 50 rose 76.90 points, or 0.39%, to close at 19,770.90 on Tuesday.
  • Reaching 43,790.95, the Bank Nifty index saw a spike of 206.00 points, or 0.47%.
  • On the NSE Nifty 50, the top losers are Tech Mahindra, NTPC, BPCL, Britannia Industries, and Coal India.

The NSE Nifty 50 rose 76.90 points, or 0.39%, to close at 19,770.90 on Tuesday, while the BSE Sensex surged 205.31 points, or 0.31%, to close at 65,860.46. These gains were the main equity indices’ first moves during the trading session on Tuesday.

Reaching 43,790.95, the Bank Nifty index saw a spike of 206.00 points, or 0.47%. Alkem Labs, DLF, Godrej Properties, Oberoi Realty, and Max Finance are among the top stocks that are currently trading at their 52-week high.

Sensex and Nifty

On the NSE Nifty 50, the top losers are Tech Mahindra, NTPC, BPCL, Britannia Industries, and Coal India. Based on the NSE Nifty 50 index, the top gainers are Adani Enterprises, SBI Life Insurance, Hindalco Industries, JSW Steel, and HDFC Life Insurance.

Yesterday’s trading continued on the sideways trajectory, with 19740 containing upswings and bargains leaking in at all lower turns. Geojit Financial Services Chief Market Strategist Anand James stated that the upside bias is still present and that if the market can stay above 19707, a push higher is anticipated.

The top laggards on the Nifty 50 index are Britannia Industries, BPCL, Apollo Hospital, L&T, and Tata Consumers.

Senior Technical & Derivative analyst Kunal Shah of LKP Securities offered commentary on the technical outlook, pointing out that the Nifty index is presently trading in a broad consolidation phase and forming an inside bar candle pattern, with resistance at 19,800 and support at 19,650. The index could potentially reach all-time high levels if there is a break above 19,850.

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