The benchmark equity indices ended Thursday’s trading session in the positive territory. The NSE Nifty 50 gained 31.65 points or 0.14% to settle at 21,982.80, while the BSE Sensex jumped 195.41 points or 0.27% to 72,500.30. Bank Nifty index ended higher by 157.75 points or 0.34% to settle at 46,120.90.
The broader indices ended in mixed territory, with gains led by Mid-cap and Large-cap stocks. PSU Banks and Metal stocks outperformed among the other sectoral indices while Media stocks shed.
Adani Enterprises, Adani Ports and SEZ, IndusInd Bank, Tata Consumers, Britannia Industries were the top gainers on the NSE Nifty 50, while the laggards includes Apollo Hospitals, Bajaj Auto, LTI Mindtree, Eicher Motors, UPL.
The Indian Volatility Index (India VIX) closed down by 4.63 %.
“Markets traded volatile on the monthly expiry day but managed to end marginally higher. The tone was subdued at the beginning and a mixed trend across heavyweights capped the move till the end. Meanwhile, a lackluster move on the sectoral front kept the traders on their toes wherein realty and IT edged lower. Surprisingly, the broader indices ditched the trend and managed to end in the green,” said Ajit Mishra, SVP – Technical Research, Religare Broking Ltd.
Mishra also added that, we are seeing a tussle at 21,900 in Nifty, which coincides with a short term moving average i.e. 20 DEMA and expect the index to face a hurdle around the 22,100-22,250 zone, in case of a recovery. At the same time, excessive volatility and failed breakouts across sectors are further adding to the traders’ worries. We feel it is prudent to avoid aggressive trades in the current scenario and utilize rebound to reduce longs.