Traders book profits as indices hit record highs; all eyes on May 23

Indian market started on a strong note on May 21 following the best day in a decade to hit a record high in morning trade. The S&P BSE Sensex hit a record high of 39,571.73 while the Nifty50 rose to a lifetime high of 11,883.55. However, soon profit booking pulled the marked downwards. The S&P…

Sensex closes 1,421 points higher, registers second highest gain of all-time

Sensex recorded the second highest one-session gain ever, closing 1,421.90 points up at 39,352. Nifty ended the day 421 points up at 11,828. The primary reason for the surge was exit polls that clearly indicated Modi-led NDA to make a thumping return to power on May 23. New18-IPSOS survey projected NDA to get 336 seats while UPA…

Sensex, Nifty just shy of record highs; what to do now?

Sensex rallied more than 1,400 points while Nifty vaulted more than 400 points to register their best day in a decade. Indian markets witnessed a blockbuster day after exit polls suggested that the ruling party should be able to get a majority comfortably. The rise in the market was led by short coverings as well…

Sensex closes 1,434 points higher, registers second highest gain of all-time

Sensex recorded the second highest one-session gain ever, closing 1,421.90 points up at 39,352. Nifty ended the day 421 points up at 11,828. The primary reason for the surge was exit polls that clearly indicated Modi-led NDA to make a thumping return to power on May 23. New18-IPSOS survey projected NDA to get 336 seats while UPA…

Blockbuster day for market ahead of exit polls

It was a blockbuster day for the Indian market as Nifty50 reclaimed 11400 levels on a closing basis, while the S&P BSE Sensex had a touch and go moment with 38,000. Most experts suggest that the move could be largely led by short-covering ahead of the exit polls which are due on May 19. “Short…

Volatility to stay till May 23, avoid leverage play

The benchmark indices managed to bounce back on May 16 after being pulled down by bears in the previous trading session. This is just the second positive close that the index witnessed in the month of May. The final tally on D-Street – the S&P BSE Sensex rallied 278 points to 37,393 while the Nifty50…

India VIX near 4-year high; monsoon to be key trigger ahead

After a strong bullish candle seen on Tuesday, traders were hoping for a stable Wednesday. However, bears soon took control in the last hour of the trading session and pushed Nifty below crucial support levels. Trade tensions, profit booking at higher levels, mixed results from India Inc., delay in monsoon as well as growing uncertainty…

Terrific Tuesday! Bulls push Nifty back above 11,200 levels

From a terrible Tuesday, it turned out to be a terrific Tuesday as bulls took control of D-Street in the second half of the trading session, snapping nine-days of a bear grip, thanks to short coverings in beaten down sectors. At close, the Sensex rallied 227 points to 37,318 and the Nifty ended 73 points…

Weak macro data, earnings push Nifty below 100-EMA

After consolidating around 100-days exponential moving average (EMA), traders were confident that Nifty50 should be able to hold on to this level on May 13 but late hour selling pushed Nifty in the red for the 9th consecutive days in a row. The index posted its longest losing streak for the first time in the…

Earnings dent sentiment; Sensex, Nifty down 3.8% for week

Indian market witnessed an eigth consecutive day of fall on Friday. For the week, the S&P BSE Sensex plunged 3.8 percent while Nifty50 fell 3.7 percent in the same period. In terms of market capitalisation, investors lost nearly Rs 5 lakh crore during this week. The average market-capitalisation of BSE-listed companies fell from Rs 151.62…