New Delhi: Nifty ended larger for the fifth straight session on Monday after hitting an all-time excessive on the intra-day charts, stated Deepak Jasani, Head of Retail Research at HDFC Securities. At shut, Nifty was up 0.37 % or 81.6 factors at 22,122.25, its all-time excessive.
Cash market volumes on the NSE fell to Rs 0.95 lakh crore, the bottom since January 20, 2024, he stated. (Also Read: 4 New IPOs To Hit Market This Week; Check Full Details Of Upcoming Initial Public Offerings)
The smallcap index rose greater than the Nifty even because the advance-decline ratio remained excessive at 1.55:1. Trading exercise was concentrated in PSU and financial institution shares. (Also Read: GPT Healthcare IPO: Check Price Band, Subscription, Allotment & Listing Dates)
Asian shares have been blended on Monday as fading probabilities for early price cuts globally soured the temper and Chinese markets returned from vacation with solely muted features. European shares paused again as traders awaited contemporary catalysts after final week’s push near a document excessive.
US markets are shut on Monday for the Presidents’ Day vacation. India’s energy consumption elevated 7.5 on-year to 1,354.97 billion items within the April-January interval of this monetary yr, indicating an uptick in financial actions throughout the nation. Power consumption in January rose 5.4 % to 133.18 BU, he stated.
The markets might now appropriate/consolidate for a while earlier than Nifty prepares for the following up transfer. It might face resistance from 22,187 whereas 21,954 might supply help within the close to time period, he stated.
Narender Singh, founding father of Growth Investing, stated that the Nifty 50 once more touched an all-time excessive on Monday, demonstrating the robustness of the Indian inventory market.
Noteworthy prime performers on Monday included Nifty client durables and Nifty pharma, reflecting robust momentum within the consumer-focused sectors.
Conversely, weak point was seen in earlier sectors which had been leaders within the final leg of the bull run — PSU financial institution, Nifty IT, and Nifty realty — and have been among the many backside performers.
Source: zeenews.india.com
