stock market analysis: Market Watch: Short-term trend remains negative | The Economic Times Podcast
Welcome to ETMarkets Watch, your daily wrap-up to the day on Dalal Street. I am Nikhil Agarwal.
Domestic benchmark indices snapped their 3-day losing streak and closed higher on Monday, led by gains in banking, financial and IT stocks.
The 30-share Sensex rose 300.44 points to end at 59,141.23. Its broader peer, Nifty50, ended at 17,622.25, up 91.40 points.
M&M was the top gainer from the 30-share pack, gaining 3.05 per cent to Rs 1,288.70. Bajaj Finance was up 2.79 per cent, SBI increased 1.94 per cent, and HUL surged 1.92 per cent. Nestle India, Bajaj Finserv, HDFC and ITC also ended with gains.
Sectorally, the Nifty PSU Bank jumped 2.03 per cent, while Nifty Media rallied 1.26 per cent. Nifty Financial Services and Auto also closed higher. Nifty Midcap50 ended flat, while Smallcap50 fell 0.69 per cent.
Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said the short term trend of Nifty continues to be negative. Further sustainable up move from here could pull Nifty towards 18K mark again, he said.
That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye.
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