After three days' fall, market bounced back smartly as Global
rating agency Standard & Poor's (S&P) has upgraded India's credit
outlook to stable from negative. Nifty closed at 7968.85 with a gain of 57
points and Sensex jumped 157.96 points to close at 26626.32. Nifty recovered
nearly 127 points from the day's low of 7841.8.
In sectoral indices, only 3 indices closed into negative which
were CNX FMCG(-0.88%), CNX Media(-0.46%) & CNX IT(-0.43%) whereas CNX PSU
Bank rose the most by 3.07% followed by CNX Metal(2.7%), CNX Realty (2.4%), CNX
Commodities (2.12%).
In Nifty50 stocks, Hindalco gained the most by 6.27% to close at 158.5 and DrReddy was the top loser by 2.56% fall and ended at 3225.75. JPAssociat was the turnover topper by the traded quantity and Sunpharma by the traded value. Advance / Decline ratio was positive as 866 stocks gained and 692 stocks declined today on NSE.
Nifty Outlook :
(Spot)Nifty is trading still in a bearish mode and may touch 8040-8095 in continuation with today's rally. On daily chart, Nifty has a strong resistance at 8155 and a good support at 7790 and 7720.
