Today’s Market Summarised
Market ends in green again, boosted by RBI announcement keeping interest rates unchanged.
NIFTY opened at 17,532 and fell more than 100 points. Announcement from the Reserve Bank pushed the index from the day-low back and kept on moving up. For the most part of the day, the index slowly moved up hitting newer day-highs. NIFTY ended the day at 17,605, up 142 points or 0.81%.
BANK NIFTY opened at 38,717 and moved sideways. Even when NIFTY fell, the bank index did not fall as much and held its own. The RBI announcement helped the index move 500 points up in just thirty minutes. Bank Nifty closed the day at 39,010, up 400 points or 1.04%.
NIFTY Media(+1.66%), Fin Nifty(+1.16%) and NIFTY Metal(+1.24%) went up the most. NIFTY IT and Bank Nifty also moved up more than 1% each.
Asian markets closed mostly in the green today. European markets are trading flat currently.
ONGC closed as the top-gainer in NIFTY 50 ahead of its Q3 results announcement today.
Tata Steel, JSW Steel and Grasim from the construction sector moved up. Jindal Steel, NMDC and Ratnamani also went up from the NIFTY Metal index.
Adani Power hit a multi-month high and closed in the green. Adani Wilmar once again closed at 20% Upper Circuit after getting listed on Tuesday.
Page Industries and Bharat Forge fell after reporting their Q3 results intraday.
Solara Pharma opened at a 20% Lower Circuit and stayed there after reporting Rs 139 crores loss for Q3.
Infosys pushed up the NIFTY index by the most and closed near the day-high.
BPCL closed among the top-losers of NIFTY 50 after factoring in the Rs 5/share dividend.
While Reliance stayed flat in the day, HDFC and HDFC Bank gave the index some strength. The RBI Governor announced that the interest rates will be kept untouched while growth is expected to increase.
Once the levels of NIFTY and BANK NIFTY we discussed yesterday were broken, the indices shot up to fresh day-highs.
Now that the 50-day EMA has been broken again in NIFTY, it is a sign of bullishness.
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