Share Market Highlights: Bulls continued to rule Dalal Street as benchmark indices closed the day higher on Friday. The NSE Nifty 50 ended at 17,158, increasing 1.35 percent, while the Sensex surged 712 points or 1.25 percent to settle at 57,570. Tata Steel, Sun Pharma, and HDFC were the top three Sensex gainers, all rising by 7.4 percent. The worst-performing Sensex stock, Dr Reddy’s, was followed by Kotak Mahindra Bank, State Bank of India, and Axis Bank, each of which fell 3.9 percent.
Purchasing interest at a discount
Share Market: The Nifty opened with a gap up, took support at lower levels at 17000, and is again rising. The indicator is reaching higher highs on a daily basis, indicating that the trend is still positive.
India VIX has stabilised at 17 levels, which is encouraging the market to advance. Now, as long as the index is above 16988, higher levels of 17250 and 17350 are to be expected, while on the downside, support levels of 16888 and 16750 are to be anticipated. According to Chandan Taparia, vice president of equity derivatives and technical, broking & distribution at Motilal Oswal Financial Services, “market breadth is encouraging, suggesting that there is buying activity at lower levels.”
HDFC shares pare gains
Following the release of the company’s ita quarter results, shares of Housing Development Finance Corporation (HDFC) were trading 0.90 percent higher on Friday. The stock was up more than 1% earlier in the day.