India’s stock benchmark surged Thursday as futures and options contracts expired in November, driven by rising index giants such as Reliance Industries, Infosys, Kotak Mahindra Bank, HDFC Bank, ITC, Bharti Airtel and Tech Mahindra. bottom. Benchmarks fell, but soon gave up daytime losses, the Sensex rose 758 points from the day’s lowest level, and the Nifty 50 reached a daytime low of 17,351, after which it was a significant psychological level. I have regained 17,500.
The Sensex rose 454 points to close at 58,795, and the Nifty 50 Index rose 121 points to close at 17,536.
“If Nifty can be maintained above 17,500, it can rise to the 17,600-17,700 level. Momentum indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show positive momentum in the market. “We do,” said Vijay. Dhanotiya, Head of Technology Research at CapitalVia Global Research.
Reliance Industries is Nifty’s top winner, with stocks rising more than 6% to a day-to-day high after the board decided to implement a scheme of arrangements to transfer the gasification business to a wholly owned subsidiary. It has reached 2,502 rupees. According to BSE data, the rise in Reliance shares has added more than 400 points towards the rise in Senssex.
Divi’s Labs, Infosys, ITC, Dr Reddy’s Labs, UPL, Tech Mahindra, HCL Technologies, HCL Technologies, Tata Consumer Products, Cipla and Kotak Mahindra Bank also rose 0.5-1%.
Conversely, Hindalco, IndusInd Bank, Axis Bank, Shree Cements, Tata Steel, Mahindra & Mahindra, Bajaj Finance, Eicher Motors, Bharat Petroleum, Bajaj Auto, Larsen & Toubro, and Coal India were the losers.