- by Soumili Roy
- 26th Sep 2020
Heading: Sensex Rallies 800 Points.
On Friday, 25 September 2020, the bulls probably said Thank God it's Friday, back on D-Street, as Indian business sectors recovered the vast majority of the misfortunes of the last meeting on September 25.
The S&P BSE Sensex shut 835 points higher at 37,388 whereas the Nifty50 elevated 244 points to end at 11,050.
The index closed above the crucial resistance level of 10,900, which triggered short-covering that helped the index to climb 11K.
If you talk about sector-wise performance, the top sectors which benefited in today’s market stand to be telecom, IT, auto, and capital goods space.
On the broader markets front, the S&P BSE midcap index was seen to climb 2.9 percent whereas the smallcap index rallied 2.3 percent.
Bharti Airtel, Cipla, HCL Tech, and Bajaj Finserv were among the top Nifty gainers.
BPCL, UPL, and SBI Life Insurance Company were among the top Nifty losers.
Stocks of the day
If talking about the stock sector-wise, Indian business sectors were shuddered up to solid worldwide cues that established any desires for some green on the screen. Asian business sectors shut generally higher while the Dow Jones Industrial Average climbed 0.2 percent, the S&P 500 increased 0.30 percent and the Nasdaq Composite included 0.37 percent.
A volume spike of more than 100 percent was seen in LIC Housing Finance, Sun TV, Bajaj Auto, and NMDC.
The stocks like Voltas, HCLTech, TVSMotor showed Long build up.
The stocks like HAVELLS, Kotak Bank, HDFCBank, SBILife showed a short build-up.
More than 160 stocks on the BSE including ABM Knowledge, Advanced Enzyme, Bhansali Eng, ISF hit a fresh 52-week high.
Lead prices simply loosened to Rs 145.9 for every kg as participants increased their short positions.
Copper prices snaked down to Rs 510.15 per kg, tracking solidness in the dollar. The Dollar Index, measured against a basket of six currencies, profited 0.21 percent to trade at 94.58.
Gold costs were consistent at Rs 49,846 for every 10 gram in the Mumbai retail market as the dollar shed its benefits on boost trust. The valuable metal has lost Rs 1,774, or 3.44 percent, this week in the domestic market.
Silver costs cornered lower to Rs 59,415 for every kg as participants increased their short positions. The vital and valuable metal had gained 0.4 percent on the COMEX on September 24.