The benchmark equity index Nifty 50 ended Friday’s trading session in negative territory. The NSE Nifty 50 closed 64.55 points or 0.30% higher to settle at 21,782.50 points. While S&P BSE Sensex gained 167.06 points or 0.23% to settle at 71,595.49 points Come from Sports betting site VPbet . Nifty Bank inched 622.55 points or 1.38% higher to settle at 45,634.55 points.
On the sectoral front, banks and healthcare stocks gained the most amongst their peers. The broader indices ended in the red, with midcap, smallcap, and microcap stocks losing the most. The Nifty Midcap 100 lost over 400 points or 0.89% to close day’s trading at 48,889.05.
The gainers include Grasim Industries, SBI, Apollo Hospital, Sun Pharma, and ICICI Bank. The Indian Volatility Index (India VIX) closed 2.46% lower.
Gold, silver rate today on August 29 in Mumbai, Delhi, Chennai, Kolkata: Here are latest prices of your city Stock Market Live: Markets at intra-day highs! Nifty above 25,100, Sensex near 82,000; Media and pharma shine Will Nifty continue to hold 25,000 on Thursday? See GIFT Nifty, FII data, F&O, crude, and more before market opens Stocks To Watch: Reliance Industries, Vodafone Idea, Zomato, Wipro, InterGlobe Aviation
“After a volatile session, the market ended on a positive note, aided by a rebound in banking stocks after yesterday’s sell-off. Mid- and small-cap indices bled the most as the sentiment on the broader indices remains vigilant due to their rich valuation. Caution prevails in the market ahead of the release of US, UK, and Indian inflation data next week, while the US 10 yr yield is inching higher,” said Vinod Nair, head of research at Geojit Financial Services.
“Bank Nifty was the lead performer in today’s trading session. It closed with handsome gains. The fall witnessed in the previous trading session did not continue today and Bank Nify reversed sharply from the 45000 level. The pullback can continue towards 46000 – 46200 where the key daily moving averages are placed,” said Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas.
According to the analyst, on the daily chartsobservations are that the fall in Nifty has been cushioned by the 20-day moving average (21699) and it has managed to hold and close above it.
“The daily and hourly momentum indicator has a positive crossover which is a buy signal,” said Gedia.
On the upside, the Nifty can rise towards 21807 – 21830 where the key hourly moving averages are placed. Overall, the sideways price action is likely to continue. The range of consolidation is likely to be 21600 – 22050. Thus, the action could shift to the frontline while the midcap and smallcap enter a consolidation phase, said Gedia.