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.
Stock market changes almost everyday, as it is known for its volatile nature. If the market opens with a positive note that doesn't mean it will stay the same, it may fluctuate anytime. Hence, traders should have all the updates about market before entering into it. For market updates and trading ideas many traders are taking stock tips for tomorrow.
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