How was the Indian stock market today?
NIFTY kicked off holiday-shortened week with a good start. The 50-share NSE index NIFTY rose 0.66% to settle at record closing high of 10966.20 resuming its record-breaking run on Monday. The wider Nifty gained strength towards the end of the session to hit record closing highs for a fourth straight session on Monday on sustained foreign fund inflows and better-than-expected Oct-Dec earnings. The surge in today’s trade supported by the Index heavyweights Reliance Industries, TCS, and HDFCBANK.
Looking overseas, European markets trading mixed on Monday ahead of monetary policy decisions from the regions two major central banks this week. Whereas Asian markets closed mostly higher as investors are less concerned over the political developments in the U.S. after a government shutdown began last week.
Nine out of eleven sector gauges compiled by the NSE ended higher led by NIFTY IT and NIFTY REALTY as top gainers. On the other side, NIFTY METAL and NIFTY PSU BANK are the only losers.
From the NIFTY 50 basket of shares, TCS, IBULHSGFIN, RELIANCE, ONGC, and AXISBANK topped the table as top gainers while HINDPETRO, GAIL, WIPRO, HDFC, and BPCL are the top losers.
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RELIANCE: This stock witnessed the gap in daily chart and rallied 4.32% at last trading session. This stock is one of the index heavyweight and volume overweighted by 4 times the average trading volume. This stock settled at record closing high of Rs.971.50 above its resistance zone.
AXISBANK: This stock registered a considerable margin in the last few day. This stock is heading to its resistance zone at Rs.638 as it rose 3.61% to 1.5 times the increased trading volume. Thought numerous trades are intraday in nature this stock may continue its upward rally.
IBULHSGFIN: This stock is heading to break its previous highs as it recorded a huge margin in the past 4 days. This stock surged 4.10% to settle at 1355.15 on 22-01-2018. The rally is expected to continue as bears are not yet geared up for the war. This stock resistance zone is at Rs.1370.
TCS: This stock is consistently breaking highs for the past 5 days. This stock rose 5.31% at last trading session to finish at record closing high of Rs.3116.40. There is a chance of further rally as this stock 50% of the trades are taken for delivery. This stock is currently settled above the recent resistance zone.
JUBLFOOD: This stock rose whopping 8.60% to settle at record closing high of Rs.2273.30 at last t trading session. This stock volume rose 2.5 times consistently for the past two days. This strength of the bulls is witnessed through the opening gap appeared in the daily chart which indicates the positive rally in this stock.
HINDPETRO: This stock plunged 3.46% to close at Rs.401.80 and the trading volume inflated by 1.5 at last trading day. This stock is consistently sliding for past few days. This stock is trading inside the trading range and this stock support and resistance zone are at Rs.397 & Rs.446 respectively.
MINDTREE: This stock is surely in the hands of bears as there is an unfilled gap and also there is a no sign of an effort by the bears to fill the gap. This stock rose 7.82% to 50% of the trades taken for delivery at last trading session. This stock is currently settled at Rs.757.35 above its resistance zone.