Home / Market Beat / Nifty strong at 5350. Midcaps outperform. Reliance Infra up by 8%

Nifty strong at 5350. Midcaps outperform. Reliance Infra up by 8%

Trades in the bourses are strongly in the green, regaining most of the points that were lost during yesterday’s fall. The Nifty has backtracked to 5350 and is holding strongly in this territory. The index is up by 73 points or 1.4%.

Technical Analysts from Angel Broking, feel that a price wise correction of Nifty to 5210 is expected on the cards before the rally phase begins again.

Stocks from various sectors have participated in today’s pullback. The BSE Auto index is up by 2.5%. The Bank Nifty is up by around 3.4%. PNB has moved up by 5.6% . SBI is up by 5.4% at 2238. IDFC is up by 5.3%.

The ADAG pack is also buzzing today. Reliance communications has moved up. Reliance infra is the top gainer among the index stocks, with 8% gains.

Hindalco, along with some of the metal counters has gained. L&T has moved up by 1%. Real estate counter HDIL is up by 8%.

On the losing side, Cairn India is down in the trade. IT stocks have shown more weakness. All the majors in this segment, TCS, Infosys and HCL Tech are down.


 

 

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