FINAL TRADE: Nifty closes above 20,000 for the first time, Sensex surges 246 pts to end at 67,467
Stock market today: At close, the S&P BSE Sensex climbed 245.86 points, or 0.37 per cent, to settle at 67,466.99, and the Nifty ended at 20,070, up 76.8 points, or 0.38 per cent.
Stock market today: The domestic equity market on Wednesday, September 13, edged higher after a lacklustre start. The NSE Nifty closed above the 20,000 mark for the first time, and both benchmark indices hovered around record highs. Except for IT and Auto, all the counters saw buying.
At close, the S&P BSE Sensex climbed 245.86 points, or 0.37 per cent, to settle at 67,466.99, and the Nifty ended at 20,070, up 76.8 points, or 0.38 per cent.
Among the Nifty 50 stocks, 31 advanced and 19 declined.
In the broader market, the Nifty Mid Cap 100 and Small Cap 100 closed on a positive note.
Nifty Bank was up 0.87 per cent and closed at 45,909.45.
TECHNICAL VIEW
"Overall, the short-term outlook is positive, and this consolidation is likely to be used as a buying opportunity. In terms of levels, 19,865 – 19,810 is the crucial support zone while 20,200–20,250 shall act as an immediate hurdle zone," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
Gedia added Bank Nifty was the star performer today as it managed to breach the previous day's high of 45,894 and closed above that, indicating it has started the next leg of the upmove. On the upside, it has the potential to retest the swing high of 46,370 and above that, 46,500. The daily and hourly momentum indicators have a positive crossover, which is a buy signal.
NIFTY 50 STOCKS
Coal India, Grasim, Tata Consumer Products, Titan, and Bharti Airtel were the top gainers on the NSE. HDFC Life, M&M, Adani Ports, Cipla, and L&T were the major laggards.
BUZZING STOCKS
ITI Ltd extended gains for the third session and hit the upper circuit of 20 per cent.
Indiabulls Housing shares settled over 12 per cent higher after 22.5 lakh shares of the company changed hands in a transaction worth Rs 40.8 crore.
GMR Power and Urban Infra shares hit the upper circuit on the BSE after the company's subsidiary received a Letter of Intent (‘LOI’) to install, integrate, and maintain 75.69 lakh smart metres for the following Zones of U.P.
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