ANI
15 Sep 2023, 16:25 GMT+10
Mumbai (Maharashtra) [India], September 15 (ANI): In a day marked by robust trading, the Indian stock market saw the Sensex and Nifty indices ending on a high note. Investors celebrated as the indices consistently climbed, reflecting positive sentiment.
The Sensex closed the day with a gain of 319.63 points, settling at 67,838.63. Similarly, the Nifty surged by 89.25 points to reach a closing figure of 20,192.35. This bullish trend was further supported by the performance of individual stocks.
Among the Nifty companies, 32 showed advances, while 18 recorded declines. The top gainers included Bajaj Auto, Hero Motocorp, MM, Grasim, and HCL Technologies. On the flip side, BPCL, Hindustan Unilever, Asian Paints, Britannia, and TATA Consumer Products were the top losers at the end of the trading day.
Varun Aggarwal, the founder and managing director of Profit Idea, commented on the market's performance, stating,"Nifty closed around 20200, hitting a new lifetime high. Nifty hits intraday record high of 20,223Sensex 67,927. Technical outlook is bullish with good support at 19698-19517 these levels. As Nifty managed to close above 20160, it can potential target 20466-21234 on the upside".
Automobile shares witnessed significant trading volumes during the day. Additionally, the IT, banking, and pharmaceutical sectors showed strength with a bullish bias.
Aggarwal noted that there are numerous opportunities for investors in mid and small-cap companies, many of which are potentially breaking out from the bottom.
While the broader market may consolidate around these levels, holding long positions with a trailing stop loss of 19,698 seems promising.
"Automobile shares saw good volumes today. Apart from that IT, Banks, Pharma stocks are looking good with bullish bias. Lot of opportunities for investors in mid and small cap companies. Many are potentially giving breakout from bottom. Broader market might consolidate around these levels but longcan be kept with TSL of 19698", said Aggarwal.
Indian stock indices reached fresh highs on Friday, largely influenced by strong overnight cues from the US markets and continuous fund inflows from foreign portfolio investors.
This impressive performance follows a month in which the benchmark indices each gained over 3 percent, driven in part by India's robust economic growth in the April-June quarter.
The Indian economy's firm GDP growth rate of 7.8 per cent in the first quarter of 2023-24, along with sustained foreign portfolio investments, has evidently boosted investor sentiment in recent times. (ANI)
Get a daily dose of Baton Rouge Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Baton Rouge Post.
More InformationAUSTIN/SAN FRANCISCO: Two of the world's leading job search platforms, Indeed and Glassdoor, are set to eliminate around 1,300 positions...
NEW YORK CITY, New York: Bitcoin surged to a new all-time high this week, buoyed by growing institutional interest and a wave of pro-crypto...
SHENZHEN, China: As global chip competition intensifies, Huawei Technologies is exploring new markets in the Middle East and Southeast...
LONDON/NEW YORK CITY: American grocery bills may be headed higher as coffee and orange juice prices face upward pressure from new tariffs...
BATTLE CREEK, Michigan: In a major consolidation of iconic food brands, WK Kellogg has agreed to be acquired by the owner of Ferrero...
WASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...
LONDON, U.K.: American consumers and businesses could soon face the highest overall tariff burden in more than a century, according...
China launches Tianzhou-9 cargo craft to send space station supplies China launched the cargo spacecraft Tianzhou-9 in the early...
Tel Aviv [Israel], July 15 (ANI/TPS): Speaking about the Israeli military's attack on tanks on the move in southern Syria on Monday,...
U.S. President Donald Trump noted there would be secondary tariffs of about 100 percent. WASHINGTON, July 14 (Xinhua) -- U.S. President...
Kyiv [Ukraine], July 15 (ANI): Ukrainian President Volodymyr Zelenskyy on Tuesday said he had a 'very good conversation' with US President...
Berlins forces are ready to take lethal action against Russian troops, German defense minister has said Germany is becoming dangerous...