Although Monday a bit lazy, bulls managed to stage a comeback on Dalal Street on Tuesday, helping the S&P BSE Sensex to surge over 500 points while the Nifty50 reclaimed the crucial level at 8600 in afternoon trade.
Positive global cues helped the Nifty50 regain its crucial level of 8600, which has been a key resistance level for the index. A close above this level will fuel further bullish momentum.
The Nifty50 rose over 100 points to reclaim the psychological level of 8650, led by gains in the shares of ICICI Bank BSE 4.58%, Adani Ports, HDFC, Tata Steel BSE 3.46% and Aurobindo Pharma BSE 3.02%.
The action on Dalal Street was broad based, as S&P BSE Midcap & Smallcap indices simultaneously rose over 1% each.
Tuesday 18 October 2016
Better Tuesday! Surprise rally in Sensex
Although Monday a bit lazy, bulls managed to stage a comeback on Dalal Street on Tuesday, helping the S&P BSE Sensex to surge over 500 points while the Nifty50 reclaimed the crucial level at 8600 in afternoon trade.
Positive global cues helped the Nifty50 regain its crucial level of 8600, which has been a key resistance level for the index. A close above this level will fuel further bullish momentum.
The Nifty50 rose over 100 points to reclaim the psychological level of 8650, led by gains in the shares of ICICI Bank BSE 4.58%, Adani Ports, HDFC, Tata Steel BSE 3.46% and Aurobindo Pharma BSE 3.02%.
The action on Dalal Street was broad based, as S&P BSE Midcap & Smallcap indices simultaneously rose over 1% each.
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