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Stock Market Today's Update by Ripples Financial Advisory – 27th February 2017
On Thursday, Indian Benchmark Index Nifty Share Price opened at 8956; 29 points gap up from its previous day close of 8927 and made a high of 8982. Finally, the index closed at 8940 after making a low of 8928. Last day, Telecom stocks were in focus, with Bharti Airtel climbing 1.4% after the telecom major signed an agreement to take ownership of Telenor’s India operations. Idea Cellular was also up by 6.4% for the news that Japan's Softbank Corp is looking to pick up a minority stake in the proposed Idea-Vodafone combine. Reliance Communications and Tata Teleservices closed up around 3 percent each. Apart from Telecom, IT index also performed well as TCS, INFY and WIPRO was up by 2 – 3%.
Bank Nifty opened flat last day and made a high of 21012 but could not go above its resistance level of 21042 which is its life time high and closed at 20877.Kotak Bank which has a weightage of around 11% in the Index was the major mover last day. The major support of Bank Nifty is at 20450.
Small Cap Index does not show any major movement last day. The Index closed at 6614 after making a high of 6637 and low of 6605.
Nifty Future Small Cap Index does not show any major movement last day. The Index closed at 6614 after making a high of 6637 and low of 6605.