Markets worldwide were boosted after Monday’s trading session with gains. It influenced Domestic benchmark indices, Sensex and Nifty. S&P BSE Sensex was increased over 200 points while the 50-stock Nifty was just below the 11,450 marks. Financial experts were leading the rally with five of the top six Sensex gainers being from the banking and finance industry. Volatility slipped over 3 per cent on the starting but managed to regain losses at some extend. In other words, it was the information technology giants were trading with losses on Monday morning. As per benchmark indices, midcap and smallcap indices were seen least performing.
Top gainers: Initially NTPC was the top gainer on the opening bell but soon it was replaced by Kotak Mahindra Bank, surging over 2.3 per cent. It was followed by the top gainers HDFC, HDFC Bank, SBI. BSE Midcap constituents involve Cholamandalam Financial Holdings, Whirlpool, and KIOCL. The top-performing stocks on the BSE Smallcap index are BASF India, Royal Orchid Hotels, and Windsor Machines were the top-performing stocks.
Top Drags: The top drags on BSE Sensex are Information Technology giants, HCL Technologies, Tech Mahindra. Future Retail and Varroc Engineering saw profit booking on Monday and slipped over 4 per cent each among midcap stocks. The top drags on the BSE smallcap index is VA Tech Wabag and Mirc Electronics were the top drags.
18 BSE 500 stocks hit highs: In the BSE 500 index, 18 stocks surged to hit a fresh 52- week high on Monday. SBI Cards and Payment Services, Asian Paints, Eicher Motors, Emami, and Affle India are the major players to reach a new high.
A financial inch higher: Five of the top six Sensex gains were from the banking and financial services sector. Kotak Mahindra Bank gained over 2.6 per cent, HDFC Bank was up 2.15 per cent, and HDFC was up 1.83 per cent. IndusInd Bank and ICICI Bank were the other top gainers.
Barring pharma and FMCG indexes, banking & financials raised the most, over 2 per cent followed by realty, media and auto index. The top gainers of Nifty50 are Power Grid, Indian Oil Corporation, BPCL, Eicher Motors and HDFC and the losses led by Bajaj twins, Britannia, Asian Paints and Bharti Infratel led the losses.
According to Index Trader and technical analyst of Deen Dayal investments, Manish Hathiramani the markets are trading in the fine form above the crucial levels of 11350. The initial target it should watch out for is 11500 and then 11700. The support for the week is at 11300.
