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Today the market took a complete turn around move. Today Nifty opened at a 200-point gap down 21588. After setting a low of 21531, Nifty gained momentum and showed no signs of stopping. The situation was similar in Banknifty also. Banknifty opened at 45041 and after hitting a low of 44871, it closed at 45908. Nifty closed at 21840.
Nifty closed up by 96 points (0.45%) and Banknifty closed up by 405 points (0.89%).
Yesterday the USA market (Dow Jones) closed down by more than 500 points. Therefore, the Indian stock market was certain to open lower. But no one had thought that there would be such a sharp recovery.
Today buying is seen in both government and private banks. Good growth was seen in Reliance even today. There was a rise of 32 points in Reliance. Reliance closed at 2962, up 1.11%.
Axis Bank (2.44%), ICICI Bank (0.28%), Kotak Bank (0.68%), IndusInd Bank (1.20%), SBI ( 4.20%), BOB (3.16%), Canara Bank (2.58%), PNB bank (0.70%) increased today.
However, there was a decline in HDFC Bank. HDFC bank fell 10 points to close at 1384.
Selling has been seen in IT shares. Infosys (1.09%), Tech Mahindra (2.68%), coforge (2.30%), Mphasis (2.61%), Info edge (4.29%) fell down.
The metal sector shined today. Tata Steel (2.43%), Jindal Power (3.18%), Jsw Steel (0.09%), sail (4.33%), NMDC (3.86%), Nalco (9.83%), Hindustan Copper (3.71%) rise today.
The auto sector also saw good growth. Tata Motors (1.26%), Eicher Motors (1.23%), Bajaj Auto (2.10%), Hero Motor Corp (1.46%), Apollo Tyers (1.51%), M&M (0.63%), Bharat forge (1.42%), TVS motor (2.97%), Maruti Suzuki (2.61%) rise today.
