Nifty reclaims 11,300; YES Bank jumps 6%
Domestic markets kicked off Friday’s session on a firm note, tracking positive cues from Asian markets and overnight gains in US stocks.
Domestic markets kicked off Friday’s session on a firm note, tracking positive cues from Asian markets and overnight gains in US stocks.
Asian shares traded mildly higher as upbeat US economic news and solid company earnings offered a respite from the interminable Sino-US trade saga, Reuters reported. Japan’s Nikkei bounced 0.7 per cent in early trade, while the main Australian index added 0.5 per cent.
At around 9:30 am, Sensex was trading 193 points or 0.52 per cent higher at 37,587, while its NSE barometer Nifty was up 43 points, 0.39 per cent at 11,300.
“We expect Nifty to resolve out of last four session’s consolidation (11,300–11,100). This would lead to a conclusion of the corrective phase, in turn paving the way to extend ongoing pullback towards 11,500 in coming weeks. In the process, we expect volatility to remain elevated owing to expectations of General Election outcome. However, we do not foresee the Nifty breaching the key support of 11,000 ahead of the election outcome,” said ICICI Securities in a note.
YES Bank was the biggest gainer, jumping nearly 6 per cent amid value buying. The stock suffered hefty losses in the past two trading session. Other gainers were Bajaj Finance (up 2.64 per cent), Coal India (up 1.76 per cent), Hero MotoCorpNSE 2.43 % (up 1.27 per cent), and HDFC (up 1.21 per cent).
On the other hand, Tata Motos was the biggest loser, falling over 1 per cent. Among other losers were — NTPC (down 0.79 per cent), InfosysNSE -1.22 % (down 0.73 per cent), Tata Steel (down 0.72 per cent), ONGC (down 0.51 per cent) and Vedanta (down 0.28 per cent).
No comments:
Post a Comment