Thursday, 2 March 2017

Stock Market Today by Ripples Financial Advisory– 2nd March 2017

On Wednesday, Indian Benchmark Index Nifty Share Price opened at 8904 made a high of 8961 and made a low of 8899 and finally closed at 8946 which is 66 points higher from its previous day close. Nifty traded strong throughout the day and have closed at its higest level in six months.

India’s 3rd quarter GDP came at 7% which was higher than expected have surprised the market participants. Sectors which performed well in yesterday’s trade were realty, Metal and FMCG which were up by 3.46%, 1.91% and 1.30% respectively.

Sobha,Suntek realty and Indiabulls Real estate were among the top gainers in realty which were up by 15.6%, 9.47% and 4.56% respectively.The metal stocks which shines in yesterday’s trade were Tata Sponge, Jindal saw and Tatasteel which were up by 9.06%, 5.37% and 3.68% respectively.

Selling pressure was seen in Oil and Gas sector, Hindpetro was down by 3.57% followed by BPCL which was down by 1.58%.

Bank Nifty opened gap up by 92 and remained strong throughout the day the index made a low of 20679 and closed the day at 20784 up by 0.86% from its previous day close. The major support of Bank Nifty is at 20561 and the major resistance is at 21012.

Small Cap Index remained strong last day, and closed 0.52% higher at 6743 after making an all-time high of 6764.

Nifty Future is opening at 9012 as per SGX Nifty at 8:30 am IST, 40 point above its previous close of 8972.

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