The NSE Nifty closed at 24,894.25, which is 0.2% or 57.95 points, while the BSE Sensex gain 223.86 points 0.3% higher at 81,207.17.
“Although the market has moved forward in the last two sessions, it is expected to be a pullback move instead of the reverse,” said Bhavik Joshi, business head of Invasate PMS. “Stock-specific rallies are becoming normal in the current set when chasing investors while the indicators remain flat.” After a 2.7% dropped last week, both indicators increased this cutting trading week by about 1%. Financial markets were closed on Thursday for Mahatma Gandhi Jayanti and Dussehra.
AgencyIn Asia elsewhere, South Korea rose 2.7% on Friday, while Japan and Taiwan rose 1.9% and 1.5%, respectively. China and Indonesia moved about 0.5%. Hong Kong moved toward 0.5% lower.
At home, the Nifty Midcap 150 and the Smallcap 250 index are 0.9% higher on Friday. Of the 4,339 stocks trading on the BSE, 2,636 were advanced and 1,568 declined. In the past week, midcap and smallcap indices have increased by about 2%.
The Nifty Metal Index rose 1.8% while PSU Bank and customer sustainable indices rose more than 1% on Friday.
Joshi said Metals and PSU bank indicators are close to Chatber’s record last year and both underpigners have been in the last few months.
“The price of metals is in the terms of the Dollar Lord, the decrease in the dollar lap, as it loses the value for metal companies.” “The announcement of the merger of banks in PSU space is the tail in that area.”
“Any dipping towards the support zone of 24,400-24,600 can be used as an opportunity to buy,” said Motilal Oswal Financial Services Head Technical Research, and said that the index may face a barrier at 25,000 levels in the near term, “Motilal Oswal Sarvi Sarvi Sarvis.
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