NIFTY opened the day at 18,326 with a gap-up of 58 points. After the initial move, it was clear that the index was going to have a good green day. 18,400 was a strong resistance throughout the day and was broken after 3 PM as the market went crazy. Nifty closed the day at 18,484, up by 217 points or 1.19%.

BANK NIFTY started the day at 42,774 with a gap-up of 109 pts. The index kept on creating green candles initially and took resistance at 43k. In the last 35 minutes, a 200-point breakout helped Bank Nifty close to its all-time high. Bank Nifty closed the day at 43,075, up by 346 pts or 0.81%.

Nifty IT (+2.63%) shot up on the day following a recovery in US Tech stocks.

Other major Asian Markets closed mostly in the green. European Markets are trading flat to green.

Today’s Moves

Apollo Hospital (+4.56%) shot up to its highest since April and closed as NIFTY’s top gainer.

HDFC group stocks showed strength during the day. HDFC Life (+4.55%) closed with strength. HDFC Bank (+1.63%) and HDFC (+1.96%) outperformed.

IT stocks performed well in the day with NIFTY IT breaking out above the 30k mark. Infosys, Wipro, TechM, HCL Tech, and TCS gained more than 2% each to close in the gainers’ list.

Recently listed Bikaji Foods closed at 10% upper circuit.

Tata Consumer went up 2.93% on its plans to acquire Bisleri for about Rs 7,000 crore.

Markets Ahead

Bank Nifty is at another all-time high. A crazy move towards 3 PM took the entire market up. Today, being the monthly expiry, there was a lot of volatility being seen in the market.

There was huge put writing across the market from the morning, and every time NIFTY moved down, it bounced back up. 

All sectoral indices closed in the green today, and NIFTY is just 100 points away from its all-time high. If the rally continues, we might even see the 19k level soon.

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