Sectorally, the action was seen in
energy, banks, consumer durables, healthcare, and oil & gas stocks while
mild profit-booking was visible in IT space.
The bulls returned in force to
push the benchmark indices above crucial resistance levels on August 4, as the
S&P BSE Sensex reclaimed 37,000 while Nifty50 closed just a shade below
11,100.
The S&P BSE Sensex rose 748
points to close at 37,687 while the Nifty50 closed 203 points higher at 11,095.
Tracking positive global cues,
and strong buying in index heavyweights both the Sensex and the Nifty surpassed
crucial resistance levels.
"Indian benchmark indices
ended the day with gains with positivity emerging post the RBI decision to
approve the new CEO for HDFC Bank. Private Banks and RIL supported the gains in
the benchmark indices. Global cues were also mostly positive, and aided the
markets, following better US manufacturing data," Vinod Nair, Head of Research
at Geojit Financial Services told Moneycontrol.
"With Indian exports
reaching almost the same level on a YoY basis, economic activities are showing
signs of revival, which offset concerns about the increasing viral infections
and the uncertainties that this brings across. The markets may look to
consolidate but as things stand, the current liquidity can ensure that any
corrections will be bought into," he said.
Sectorally, action was seen in
energy, banks, consumer durables, healthcare, and oil & gas stocks while
mild profit-booking was visible in IT space.
On the broader markets front,
the S&P BSE Midcap index rose 1.02 percent while the S&P BSE Smallcap
index was up by 1.23 percent.
Top Nifty gainers included
Maruti Suzuki, HDFC Bank and RIL.
Top Nifty losers included HCL
Technologies, IndusInd Bank and Tech Mahindra.
Stocks
& Sectors
Sectorally, the S&P BSE
Energy index rose 5.6 percent followed by the S&P BSE Finance index that
was up 2 percent and the S&P BSE Realty index closed with gains of 2.01 percent.
A volume spike of more than 100
percent was seen in stocks like HDFC Bank, ZEE Entertainment, BPCL, Voltas and
Exide Industries.
Long buildup was seen in stocks
like Apollo Tyre, Voltas and MRF.
Short buildup was seen in
stocks like Bandhan Bank, Shriram Transport, and MFSL.
Alkem Laboratories, Torrent
Pharma, L&T Infotech and MCX India were among more than 100 stocks on the
BSE hit a 52-week high.
Stocks
in news
HDFC Bank’s announcement of
RBI’s nod for new CEO helped the stock gain 4 percent.
Reliance Industries surged 7
percent to post the biggest one-day gain in more than three months.
Auto stocks move higher on
hopes of demand recovery and Maruti Suzuki up over 3 percent.
Varun Beverages up nearly 5
percent after earnings.
Godrej Consumer fell 1 percent
after it reported Q1 domestic volume growth that was below estimates.
IT Stocks slipped after the US
President Donald Trump signed executive order to prioritise American workers.
Technical
View
The Nifty formed a bullish candle
on the daily charts. It recovered most of the losses seen on August 3.
The index negated the formation
of lower high - lower lows of the last three trading sessions which is a
positive for the bulls.
Major trend of the index is
positive and emergence of buying after the dips of 450 zones suggests that the
bulls could be back on track, say experts.
“Now, if it managed to hold
above 11050 zones then buying interest could emerge towards 11250 zones while
on the downside support exists at 10900-10880 zones,” Chandan Taparia, Motilal
Oswal Financial Services Limited said.
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