On Monday, October 27, the Indian benchmark indices, the Sensex and Nifty, resumed their winning streak following a one-day break. Today's stock market bulls were supported by expectations of a US-China trade agreement and the potential for the US central bank to announce a rate cut.
The rise of today increased the likelihood of a new all-time high in the sessions to come.The Nifty 50 ended the day 171 points, or 0.66%, higher at 25,966.05. The Sensex ended the day up 567 points, or 0.67%, at 84,778.84. As of right present, the indices have increased in seven of the previous eight trading sessions.
Ten salient features of the Indian stock market are as follows:
1. What caused today's Sensex and Nifty to rise?
1. What caused today's Sensex and Nifty to rise?
According to Vinod Nair, Head of Research at Geojit Investments Limited, the US-China trade negotiations' advancements caused a broad-based recovery in the local market.
Investor confidence was bolstered this week by softer-than-expected US CPI data, which rekindled prospects of a FED rate cut. Strong domestic reforms combined with easing global headwinds gave signals for domestic profits growth and supported the current premium valuations, according to Nair.
2. Top gainers in the Nifty 50
On Monday, trade saw a sharp increase in thirty-nine Nifty 50 equities. SBI Life surged 3.16%, while Grasim gained 3.22%. Other winners included Bharti Airtel, SBI, and RIL, all of which saw increases of more than 2%.
3. Today's top Nifty 50 losers
Today, eleven Nifty stocks ended the day lower. The biggest declineer was Kotak Mahindra Bank, which fell 1.72%. BEL, Bajaj Finance, Adani Enterprises, and ONGC were in its wake.
4. Sectoral watch: nine indexes close higher
All indices ended the day higher, with the exception of Nifty Media and Nifty Pharma. The Private Bank index gained 1.46%, but Nifty PSU Bank experienced the largest increase at 2.22%.
On Monday, trade saw a sharp increase in thirty-nine Nifty 50 equities. SBI Life surged 3.16%, while Grasim gained 3.22%. Other winners included Bharti Airtel, SBI, and RIL, all of which saw increases of more than 2%.
3. Today's top Nifty 50 losers
Today, eleven Nifty stocks ended the day lower. The biggest declineer was Kotak Mahindra Bank, which fell 1.72%. BEL, Bajaj Finance, Adani Enterprises, and ONGC were in its wake.
4. Sectoral watch: nine indexes close higher
All indices ended the day higher, with the exception of Nifty Media and Nifty Pharma. The Private Bank index gained 1.46%, but Nifty PSU Bank experienced the largest increase at 2.22%.
5. The most active stocks
In terms of volume, Vodafone Idea was the most active stock. Following the Supreme Court's decision to permit the center to reexamine the company's ₹5,606 crore AGR dues, the stock saw a 4% increase in trading today. 323.75 crore Vodafone Idea shares were exchanged, according to NSE statistics.
The other most active stocks on the NSE were Tata Gold (6.45 crore), South Indian Bank (6.47 crore), YES Bank (8.12 crore), and Arihant Capital (7.79 shares).
6. A 10% increase in 10 stocks
The top NSE gainers today included Hatsun Agro, PSP Projects, Essar Shipping, and Fabtech, all of which had increases of 10–20%.
In terms of volume, Vodafone Idea was the most active stock. Following the Supreme Court's decision to permit the center to reexamine the company's ₹5,606 crore AGR dues, the stock saw a 4% increase in trading today. 323.75 crore Vodafone Idea shares were exchanged, according to NSE statistics.
The other most active stocks on the NSE were Tata Gold (6.45 crore), South Indian Bank (6.47 crore), YES Bank (8.12 crore), and Arihant Capital (7.79 shares).
6. A 10% increase in 10 stocks
The top NSE gainers today included Hatsun Agro, PSP Projects, Essar Shipping, and Fabtech, all of which had increases of 10–20%.
7. Eighty-nine stocks reached 52-week peaks
In today's trading, eighty-nine companies reached 52-week highs; the top stocks that did so were Vodafone Idea, Bharti Airtel, Bank of Baroda, and AB Capital.
8. 52-week lows are reached by 57 stocks.
Today, fifty-seven NSE stocks hit 52-week lows. In today's trading session, Apollo Pipes, Jaro Institute, Miswest, and Spencer's Retail all fell to their lowest levels in a year.
9. A 1:1 advance-decline ratio
For the most part, the advance-decline ratio was 1:1. 2,178 stocks rose and 2,114 stocks fell during trading on the BSE.
In today's trading, eighty-nine companies reached 52-week highs; the top stocks that did so were Vodafone Idea, Bharti Airtel, Bank of Baroda, and AB Capital.
8. 52-week lows are reached by 57 stocks.
Today, fifty-seven NSE stocks hit 52-week lows. In today's trading session, Apollo Pipes, Jaro Institute, Miswest, and Spencer's Retail all fell to their lowest levels in a year.
9. A 1:1 advance-decline ratio
For the most part, the advance-decline ratio was 1:1. 2,178 stocks rose and 2,114 stocks fell during trading on the BSE.
10. A clever technological perspective
"The Nifty got off to a great start and stayed mostly sideways throughout the day ahead of the NSE F&O expiry," stated Rupak De, Senior Technical Analyst at LKP Securities. As the index stays above the breakthrough threshold, sentiment is still robust. The current configuration appears to be favorable for an additional index rally, with dips probably being purchased into. Support is positioned at 25,700 on the lower end, below which weakness could manifest. Resistance is located at 26,000 on the higher end; a clear move or close above this level may lead to a short-term rise towards 26,500.
"The Nifty got off to a great start and stayed mostly sideways throughout the day ahead of the NSE F&O expiry," stated Rupak De, Senior Technical Analyst at LKP Securities. As the index stays above the breakthrough threshold, sentiment is still robust. The current configuration appears to be favorable for an additional index rally, with dips probably being purchased into. Support is positioned at 25,700 on the lower end, below which weakness could manifest. Resistance is located at 26,000 on the higher end; a clear move or close above this level may lead to a short-term rise towards 26,500.
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