Sensex climbs 327 pts on firm global market trends

The BSE benchmark Sensex climbed 326.84 points on Monday, tracking gains in global equity markets and buying in index majors ICICI Bank and Hindustan Unilever.

FPJ Web DeskUpdated: Monday, July 04, 2022, 04:35 PM IST
article-image
Sensex climbs 327 pts on firm global market trends |

The BSE benchmark Sensex climbed 326.84 points on Monday, tracking gains in global equity markets and buying in index majors ICICI Bank and Hindustan Unilever.

The 30-share BSE index gained 326.84 points or 0.62 per cent to settle at 53,234.77. During the day, it jumped 394.06 points or 0.74 per cent to 53,301.99.

The NSE Nifty went higher by 83.30 points or 0.53 per cent to close at 15,835.35.

Among the Sensex pack, Hindustan Unilever, IndusInd Bank, ITC, ICICI Bank, Power Grid and SBI were among the major gainers.

However, TCS, Tata Steel and Mahindra & Mahindra closed with losses.

Elsewhere in Asia, markets in Tokyo and Shanghai ended in the green, while Seoul and Hong Kong settled lower.

European bourses were trading in the positive zone in mid-session deals. The US markets were closed for a holiday.

"As we step towards the new earnings season, the prime focus of the market will turn towards quarterly numbers and updated guidance for the new financial year," said Vinod Nair, Head of Research at Geojit Financial Services.

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd said “Bulls rebounded sharply in the late session after firm European market sentiment coupled with a fall in crude oil prices and decline in the rupee cheered investors. Despite the recovery, bearish-to-volatile sentiment will continue to prevail as FII outflows have remained buoyant, which is creating nervousness amongst the investors. Technically, after a long time, the Nifty closed above the 20-day SMA and has also formed a long bullish candle on daily charts. As long as the index is trading above 15700, the uptrend wave is likely to continue. Above which, the index could move up to 15950-16000 levels. Below 15700, the uptrend would be vulnerable and could slip till 15650-15600.”

Senior Technical Analyst at LKP Securities said "Nifty remained volatile before closing above the crucial resistance of 15800. The index moved above the very short-term moving average indicating rising bullishness. The daily RSI is in the bullish crossover. Over the short term, the index may move towards 16000/16200. On the lower end, support is visible at 15700/15500"Meanwhile, international oil benchmark Brent crude dipped 0.50 per cent to USD 111 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 2,324.74 crore on Friday, as per exchange data.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Mumbai: 10 more AC local trains from 19th August on CR; check time table here

Mumbai: 10 more AC local trains from 19th August on CR; check time table here

Rajasthan: Miffed over atrocities against Dalits, Congress MLA Pana Chand Meghwal sends resignation...

Rajasthan: Miffed over atrocities against Dalits, Congress MLA Pana Chand Meghwal sends resignation...

Bihar: Nitish Kumar's new cabinet swings into action after oath-taking ceremony

Bihar: Nitish Kumar's new cabinet swings into action after oath-taking ceremony

'Virat Kohli's a big player': Sourav Ganguly on India star batsman striking form in Asia Cup 2022

'Virat Kohli's a big player': Sourav Ganguly on India star batsman striking form in Asia Cup 2022

Mira Bhayander: MBMC gives free bicycles to Class 8 students; here's why

Mira Bhayander: MBMC gives free bicycles to Class 8 students; here's why
epaper
Do you wish to receive daily Epaper on your WhatsApp for FREE?
NO
Yes