Monday was a good day for the stock market. Because the stock market closed sharply at 3.30 pm. Talking about Sensex, Sensex increased by 498 points and closed at 78,540 points, while Nifty increased by 165.95 points and closed at 23,753 points. In such a situation, investors were a little surprised to see the rise in the stock market today.
Market Gainer-Loser Share
JSW Steel, ITC, Hindalco Industries, IndusInd Bank and Trent Nifty were among the top gainers. Hero MotoCorp, Maruti Suzuki, Nestle India, HCL Technologies, Bajaj Finserv were the top losers in Nifty.
Bank, FMCG, Metal, Oil & Gas, Energy, Realty indices have seen a rise of 0.5-1 percent. While the BSE Midcap index closed with marginal gains, the Smallcap index fell 0.5 per cent.
What do analysts say?
Market analysts say that technical factors also played an important role in the recovery of Nifty today. Anand James, Sharp Market Strategist, Geojit Financial Services, said Nifty is set to break above its 200-day simple moving average (SMA), which currently stands at 23,837. He said, “If this bullish trend gains momentum, the index can again touch the level of 24,165. However, if it fails to sustain above 23,700, it could be a sign of weakness. “However, there is strong downside support at 23.265.” Which is its lowest level on 21st November.
