News Karnataka
Sunday, March 03 2024
Business

Sensex zooms 800 points; banking, metal stocks surge

Sensexzooms800pointsbankingmetalstockssurgeM MAIN
Photo Credit :

Sensexzooms800pointsbankingmetalstockssurgeM MAINMumbai: The BSE Sensex surged over 800 points tracking a rise as traders returned to the market after three days. Rise in the Asian markets also supported the domestic indices, analysts said

Healthy buying was witnessed in the banking, metal and finance stocks.

Around 10.25 a.m., Sensex was trading at 49,839.23, higher by 830.73 points or 1.70 per cent from its previous close of 49,008.50.

It opened at 49,331.68 and has so far touched an intraday high of 49,844.60 and a low of 49,331.68 points.

The Nifty50 on the National Stock Exchange was trading at 14,762.90, higher by 255.60 or 1.76 per cent from its previous close.

Manish Hathiramani, technical analyst with Deen Dayal Investments said: “The Nifty is currently trading around a resistance patch which is 14,700-14,800. We need to get past these levels on a closing basis so that we can summarise that the short term downtrend is over for the time being.”

“If we can keep above this level, we could be headed higher to 15,200-15300. If we collapse from the current levels and break 14,500 on a closing basis, there is every possibility we go down to retest the recent lows.

The top gainers on the Sensex were NTPC, ONGC and Hindustan Unilever, while the only losers were Mahindra & Mahindra and Maruti Suzuki India.

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

To get the latest news on WhatsApp