Market
Short Covering on Expiry Day! - Post-Market Analysis
NIFTY and BANK NIFTY both closed in the green on expiry day, with NIFTY crossing 18,200. HDFC's strong Q4 earnings contributed to the positive market sentiment.
Key takeaways
- NIFTY started the day at 18,081 and closed at 18,255, up by 165 pts or 0.92%.
- BANK NIFTY started the day at 43,236 and closed at 43,685, up by 372 pts or 0.86%.
- Adani Ent (+3.9%) was NIFTY50’s top gainer, with its net profit jumping 138% YoY to Rs 722 crore in Q4.
- HDFC (+2.6%) and HDFC Bank (+2.05%) hit a 52-week high after HDFC reported better-than-expected Q4 earnings.
- The US Federal Reserve hiked the key interest rate by another 25 basis points.
NIFTY started the day at 18,081 with a small gap-down of 8 points. The index created higher highs throughout the day, crossed the important level of 18,200 after 2 PM, and shot up to 18,268. NIFTY closed at 18,255, up by 165 pts or 0.92%.
BANK NIFTY started the day at 43,236 with a gap-down of 76 points. After consolidating in the first half, the index moved up similar to NIFTY and hit 43,740. BNF closed at 43,685, up by 372 pts or 0.86%
All indices except NIFTY FMCG (-0.13%) closed in green today. NIFTY PSU Bank (+1.23%) and NIFTY Metal (+1.2%) moved up.
Major Asian markets closed in green. European markets are currently trading in the red.
Today’s Moves
Adani Ent (+3.9%) was NIFTY50’s top gainer. The company’s net profit jumped 138% YoY to Rs 722 crore in Q4. It declared a dividend of Rs 1.2 per share.
HDFC (+2.6%) and HDFC Bank (+2.05%) hit a 52-week high after HDFC reported better-than-expected Q4 earnings.
Insurance sector stocks GIC (+19.4%), New India Assurance Company (+15.2%), SBI Life (+2.7%), and others rallied on the back of strong Q4 results and growth prospects.
UPL (-1.1%) was NIFTY50’s top loser.
Anupam Rasayan (-5.05%) fell sharply even after posting decent Q4 results.
Markets Ahead
It was a clear uptrending day in the market. HDFC’s stellar results added to the positivity!
NIFTY broke a strong resistance in the 18,230-235 range and shot up.
But even though Indian markets ended in green, the European markets have fallen following negativity in the US markets yesterday.
Important levels to watch out: 18,180-18,270 in Nifty and 43.450-43,750 in Bank Nifty.
The US Federal Reserve hiked the key interest rate by another 25 basis points and signalled that it may be the last increase. Strong earnings reports and sustained buying by foreign institutional investors (FIIs) are helping our market temporarily look past inflation-related comments from US Fed Chair.
How was expiry day? Are you in net profit or loss? Let us know in the comments section of the marketfeed app.
Frequently asked questions
How did NIFTY perform on expiry day?
NIFTY started the day at 18,081, created higher highs throughout the day, crossed 18,200, and closed at 18,255, up by 165 pts or 0.92%.
Which companies were top gainers on NIFTY50?
Adani Ent (+3.9%) was NIFTY50’s top gainer, and HDFC (+2.6%) and HDFC Bank (+2.05%) also performed well.
What was the impact of HDFC's Q4 earnings?
HDFC reported better-than-expected Q4 earnings, leading to HDFC and HDFC Bank hitting a 52-week high and adding to market positivity.
Written by
Cherian VargheseRelated reads
Risky Day for NIFTY. High Speculation in Options! - Pre-Market Analysis Report
NIFTY closed at 25,052 yesterday. Today's market expects a flat to gap-down opening with high speculation in NIFTY options. Get key support and resistance levels.
Global Markets Calm. FOMC Meeting Minutes Tonight! - Pre-Market Analysis Report
NIFTY closed up 0.13% yesterday; global markets are green. Today's flat opening expected. Key NIFTY/BANKNIFTY levels and FOMC minutes await.
NIFTY and BANKNIFTY Expiry Today! Will Bears Attack? - Pre-Market Analysis Report
Get the pre-market analysis report for NIFTY and BANKNIFTY expiry today, including key support/resistance levels and market expectations.
Join 2.4M+ Indians · Free · 2 min