The 30-stock BSE Sensex was trading with gains of over 200 points while the Nifty 50 was inching higher to reach the 11,300 mark.
Sensex and Nifty gained on Thursday morning after hitting the breaks during Wednesday’s trade. The 30-stock BSE Sensex was trading with gains of over 200 points while the Nifty 50 was inching higher to reach the 11,300 mark. “For the day, investors should concentrate on support levels of 11110 as a stop loss to the long position. In case of penetration of the same one should exit long and wait for 11050 to get broken for building short. Short term or swing traders should trade with strict stop loss and follow risk management principles,” said Vishal Wagh, Head of Research, Bonanza Portfolio.
Sectoral indices: Nifty sectoral indices were in the green, except Nifty Media, which was pulled down by Hathway. Nifty Pharma was the top sectoral gainer with Dr Reddy’s and Torrent Pharma as the top gainers.
Worst performing stocks: IndusInd Bank, Mahindra & Mahindra, Kotak Mahindra Bank, and HDFC were the top losers among BSE Senex constituents. Among S&P BSE 500, Inox Leisure and Hathway were down the most.
Global markets: US equity markets ended higher after the US Fed decided to keep rates unchanged. Asian Markets too were up in the green. Shanghai Composite and Hang Seng were up trading with gains along with South Korean stock markets. However, Nikkei 225 and Topix were down in the red.