Bulls remained in charge at Dalal Street for the second consecutive session Tuesday as the Nifty closed above psychological 9,300-mark for the first time ever and the Sensex rallied nearly 300 points. It was driven by positive Asian cues post French election’s first round results, and positive earnings from banks. The 30-share BSE Sensex was up 287.40 points or 0.97 percent at 29,943.24 and the 50-share NSE Nifty gained 88.65 points or 0.96 percent at 9,306.60, backed by banking & financials and FMCG stocks. The broader markets also participated in the rally, with Nifty Midcap at record closing high, up 0.8 percent despite balanced market breadth. About 1461 shares advanced while 1452 shares declined on the BSE.
Today’s Top Gainers: Bharti Infratel, Axis Bank, BPCL, M&M, Hero Motocorp
Today’s Top Losers: Tata Power, Cipla, Aurobindo Pharm, TCS, NTPC
Expert View: Experts recommend traders to continue long bets with a stop below 9,220 level on closing basis. The Nifty has immediate resistance around 9,345 levels and a breakout above this resistance point shall throw up a new target for Nifty which is around 9,549 levels.
Nifty Future and Option Tips