Rohit Singre, Senior Technical Analyst at LKP Securities said, "Nifty has formed immediate support near 14,640-14,580 zone and good resistance is coming near 14,810 zone. Any break above said levels can push index towards 15,000-mark again."
NSE s India VIX, a gauge of the market s expectation of volatility over the near term, fell 5.2 per cent to 22.89. Meanwhile, BSE s market capitalisation stood at Rs 206 lakh crore in today s session
Smallcap index hits new peak, RIL up at 4-month high. Today s market action in 10 points
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(REUTERS)
RIL rose about 4%.
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Indian stocks ended higher for the third day in a row with strong gains seen in the broader markets. Positive global sentiment along with gains in heavyweight Reliance Industries and energy stocks lifted Indian markets. The NSE Nifty 50 index ended 0.77% higher at 15,097.35 and the S&P BSE Sensex closed up 0.51% at 51,039.
Here are 10 things to know about today s market performance:
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. 12:49 PM IST
1) BSE midcap index rose 1%. The smallcap index surged 1.4% to 20,304, hitting a intraday record high of 20,321 in today s session.
NEW DELHI: Short covering at Nifty Bank ahead of F&O expiry sent domestic stock indices soaring in an extended session on Wednesday after a technical glitch on National Stock Exchange (NSE) halted trading on that bourse for a few hours. Analysts said they won t be surprised if they see more short covering on Thursday.
Analysts said the Put-Call ratio hinted at oversold conditions. After falling almost 12-15 per cent in February expiry, Nifty Bank picked up momentum and negated the formation of lower highs and lows on the technical chart. This happened after finance ministry allowed private banks to conduct government-related banking transactions. The announcement triggered huge short covering in bank stocks, analysts said.