Muhurat Trading, Market Jumps - Post Market Analysis
NIFTY opened the day at 17,736, with a gap-up of 160 points. After the big gap-up opening, it slowly moved down, but the 17,700-720 region acted as good support. Nifty closed the day at 17,730, up by 154 points or 0.88%.
BANK NIFTY started the day at 41,384 with a gap-up of 564 pts. The index consolidated for most of the trading period. Bank Nifty closed at 41,304, up by 520 points or 1.28%.
All the indices closed except for Nifty FMCG (-0.13%) closed in the green. Nifty Bank (+1.2%), Nifty Auto (+0.78%), Nifty Finserv (+1.2%), Nifty Metal (+0.71%), Nifty IT (+0.70%) and Nifty PSU Bank (+1.1%) saw good buying today.
Major Asian Markets closed mixed. China and Hong Kong markets moved down after new leadership announcements. European Markets are now trading well in the green.
Nifty 50 Top Gainers list was filled with majors from multiple sectors- ICICI Bank (+2.8%), HDFC Bank (+1.4%), HDFC (+1.8%), SBIN (+2%), Nestle (+2.4%), Tata Consumer (+1.3%) and JSW Steel (+1.3%) moved up.
HUL (-3%) moved down after its Q2 results were announced.
RBL Bank (-4.4%) closed in the red after the Q2 results.
Federal Bank (+1.7%) and IDFC First Bank (+2%) gained well.
Beautiful Evening! Hope you all are feeling the same.
It looks like we can expect the actual market reaction to Reliance Q2 results tomorrow only.
Nifty and Bank Nifty closed near resistances. Nifty is near 17,720 and Bank Nifty is just 540 pts below its all-time high.
How was your Muhurat Trading? Got trapped in login or trade execution issues? Share your answers in the comments section of the marketfeed app. Happy Diwali!