Most of the market indices closed in the green. Nifty Consumer Durables (2.60 per cent), Nifty Financial Services (2.34 per cent), Nifty PSU Bank (2.33 per cent), Nifty Realty (2.23 per cent), Nifty Private Bank (2.16 per cent) and Nifty Services (1.66 per cent) closed with gains.
Only Nifty Oil & Gas (1.37 percent) and Nifty Media (0.22 percent) closed with weakness.
Along with largecaps, midcaps and smallcaps also saw a rise. The Nifty Midcap 100 index was at 54,492.65, up 815.60 points or 1.52 per cent, and the Nifty Smallcap 100 index was at 15,853.05, up 202.55 points or 1.29 per cent.
Trent, Axis Bank, Titan, L&T, UltraTech Cement, Bajaj Finance, Indigo, HDFC Bank, Bajaj Finserv, Power Grid, NTPC, BEL, SBI, ICICI Bank, Tata Steel, TCS and HUL were the gainers in the Sensex pack. Reliance Industries, HCL Tech and Sun Pharma were the losers.
The rise in the market is being attributed to the rise in rupee and possibility of reduction in tension between Iran and America.
Jatin Trivedi of LKP Securities said, recent steps taken by RBI to curb speculation and improve dollar supply helped the rupee strengthen by 30 paise and remain near 93.00.
He further said that the recovery has also been supported by an improvement in risk sentiment on expectations of easing US-Iran tensions, although the level of uncertainty still remains high. Despite the surge, pressure from crude oil prices and global uncertainty remains.
In the near term for USDINR, support is seen at the 92.45 level, while resistance lies around 93.75-94.00.
Leander Paes gets X category security, will be surrounded by CISF soldiers
Comments are closed.