Nifty Bank Futures Hit Full Target 37543.95, Enjoy or Not, Indian equities began the new trading week on a strong note, courtesy outperformance from private financials as well as PSU Banks.
Nifty Bank Futures Hit Full Target 37543.95
The S&P BSE Sensex ended 1.2% higher, closing above the mark of 52,000 for the first time ever at 52,154. The NSE Nifty 50 index also gained 1% to close at 15,314. Both Sensex and the Nifty ended at a record high.
Among the sectoral indices, it was banks and financials that led the gains. The Nifty Bank index ended 1,200 points or 3.3% higher to close above the 37,000 mark at 37,306. Eight out of the top 10 and the top seven gainers on the Nifty 50 index were financial names.
The PSU Bank index also gained 2.3% in today’s session, led by a late surge in State Bank of India. The Nifty Realty index was the other major sectoral gainer, ending with gains of 1.5%.
Most other sectoral indices were little changed in today’s session. The Media, Metal and Pharma indices ended with a negative bias, declining 0.3%-0.4%.
Broader markets were mixed in today’s session. The Nifty Midcap index ended 1.3% higher while the Small cap index underperformed, ending 0.4% higher.
The India Volatility Index fell 2.6% to end at 21.5.
1,074 stocks on the NSE ended with losses while 845 managed to eke out gains.