Closing bell: Sensex jumps 192 points on RIL gains, Nifty above 10,950 levels
The BSE sensex closed 192 points points up at 36,578, logging an intraday gain of around 0.53 per cent. The 50-share Nifty jumped by 54 points to 10,961 levels, making a gain of 0.5 per cent on Monday trding sessions.
On account of positive Chinese data fueling industries, oil, energy and gas stocks, the BSE sensex closed 192 points points up at 36,578, logging an intraday gain of around 0.53 per cent. The 50-share Nifty jumped by 54 points to 10,961 levels, making a gain of 0.5 per cent on Monday trding sessions. Sun Pharma Advance, Linde India, HUDCO, United Breweries and Reliance Industries were among the top gaining stocks while Vodafone, Jain Irrigation and Future Retail were among the top losing stocks on Monday. Being backed by strong fundamentals and positive reviews by various analysts, Reliance Industries stocks gained by more than 4 per cent in single trading session today.
Shares of Sun Pharma registered robust 18.63 per cent gain today, Linde India went up by 7.86 per cent, HUDCO jumped by around 5.59 per cent while Central Bank stocks went down by around 9.43 per cent, South Indian Bank shares went down by near 8.68 per cent while Vodafone Idea shares slipped by near 7.1 per cent. IT major Hinduja Global solutions shot up by 2.5 per cent, NIIT Limited and NIIT Technologies shot up by 1.98 and 3.41 per cent respectively. But, shares of Wipro went down by around 2.95 per cent. Energy major Reliance Industries skyrocketed by around 4.36 per cent. Castrol India shares went northward by around 0.36 per cent.
Commenting upon the market trends Mehul Kothari, Senior Technical Analysit at IndiaNivesh told, " We have been waiting for quite some time for this breakout since we had a buy on dips view. Now, since the index has managed to close the week above 10950 the triangle breakout is being confirmed and Nifty has a potential to sneak above 11000 mark. However, we also maintain our stance that 11200 still remains a very strong hurdle for the bulls. Thus we would advise traders to start booking profits once index arrives near that zone."
Asian stocks too had a strong rally due to the positive Chinese data. Korea's Kospi went up by near 0.02 per cent, Hang Seng went northward by around 0.39 per cent, Shanghai index jumped by around 0.56 per cent while Japan's Nikkei shot up by around 0.26 per cent.
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