FINAL TRADE: Sensex ends 367 pts higher, Nifty reclaims 19,750 as IT shares help D-Street halt 2-day losing streak

Indian equity benchmarks rose on Monday, halting a two-day losing streak, led by buying interest in IT and oil & gas shares though selling pressure in FMCG counters limited the upside.

Both headline indices rose 0.6 per cent for the day. The Sensex added 367.5 points to end at 66,527.7 and the Nifty settled at 19,753.8, up 107.8 points from its previous close. 

"The Nifty opened on a flat note and traded with a positive bias throughout the day to close in the green up by ~95 points. On the daily charts, we can observe that the Nifty has bounced from the 20-day moving average of 19,600. The bounce back has overlapping in nature and hence we believe that there is more room for consolidation. A study of the hourly Bollinger bands suggests contraction of range and further points towards range-bound price action. The daily and hourly momentum indicators provide divergent signals which also suggest the absence of trending moves. Considering all the above parameters, we shall continue to maintain that nifty is likely to remain range bound between 19,500 – 20,000. Crucial support levels to keep handy are 19,630 – 19,600 and on the upside, 19,800 – 19,860 is the immediate hurdle zone," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

Broader market 

Broder market indices also ended in the positive territory with Nifty Midcap 100 closed at 37,721.35 up 0.97 per cent and Smallcap 100 at 11,702.85 up 0.88 per cent. 

Sectoral watch 

Nifty Bank settled at 45,651.10 up by 0.40 per cent. 

"Bank Nifty also opened on a positive note and witnessed a range-bound price action. It managed to hold on the 20-day moving average (45392) and witnessed a bounce from that support. The Bollinger bands are contracting which indicates contraction of range and also range-bound price action over the next few trading sessions. Divergent signals from the daily and hourly momentum indicators further support our sideways outlook for Bank Nifty. Overall, we expect the bank Nifty to consolidate between 46,500 – 45,000," said Gedia.

Expect for Nifty FMCG and Healthcare indices all indices settled in green. 

Buzzing stocks 

Hindustan Copper shares ended over 10 per cent higher. 

Welspun India ended 9 per cent higher post results. 

HEG stock closed over 6 per cent higher. 

Siemens shares ended over 6 per cent higher after its minority shareholders voted against selling its low-voltage motors and geared motors business.

Conversely, Piramal Enterprises shares fell over 5 per cent post Q1 results. 

DCB Bank shares fell over 4 per cent post results.

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