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Nifty at seven week high, just 172 points from life highs
Nifty closed higher for the sixth straight day with gains of 93 points (+0.5 per cent) at 19820 levels. Despite mixed global cues, index bounced back to seven week high and is just 172 points away from its life highs, says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
New Delhi: Nifty closed higher for the sixth straight day with gains of 93 points (+0.5 per cent) at 19820 levels. Despite mixed global cues, index bounced back to seven week high and is just 172 points away from its life highs, says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
He said that the broader market too ended in green with Midcap100/Smallcap100 up 1 per cent/0.6 per cent. Financials, Realty and energy stocks led the gains in the market.
He said that the banking stocks saw renewed interest after RBI announced removal of incremental CRR in phased manner by October 7.
Vaibhav Vidwani, Research Analyst, Bonanza Portfolio said that the Nifty closed higher for a sixth straight day at 19,819, while the majority of sectoral indexes also saw gains, with Nifty Energy and Nifty Infra leading the pack with gains of 1.39 per cent and 1.15 per cent respectively.
Coal India, NTPC, BPCL, Tata Motors and Larsen and Toubro were among the top gainers on the Nifty, while losers included UPL, Eicher Motors, Apollo Hospitals, ITC and UltraTech Cement.
