Benchmark indices were up over 0.1% at close on Monday. IT was the top drag. Nifty sectoral indices realty, metal, media, financial services, auto, and bank ended with over 1% gains at close. Nifty had 34 advances and 16 declines. Tata Motors, Coal India and Maruti were top gainers on the index, while TCS, Tech Mahindra and Infosys were top losers at close. On Sensex, there were 20 advances and 10 declines at close. Maruti, Powergrid and ITC were top gainers, while TCS, Tech Mahindra and Infosys were top losers. Nifty touched a high of 18,041.95 during the day. Sensex hit the high of 60,476.13.
On market closing: Ruchit Jain senior analyst -technical and derivatives, Angel One
“Nifty started the day on a flat note and marched higher with the support from the banking heavyweights. It finally tested the 18,000 mark which market participants had awaited much. However, during the latter part the index gave up some of the morning gains and ended around 17,950 with marginal gains of about three-tenths of a percent. Nifty finally conquered the 18,000 mark during the day which has been a remarkable journey post the covid-led fall in the last year. Although the IT space which has done remarkably well in this uptrend corrected today post the quarterly results of TCS, the banking took the charge today and led to markets to achieve the milestone. The trend still remains positive but still, one needs to be very selective in picking stocks from a short term perspective. The immediate supports for Nifty are placed around 17,900, 17,840 and 17,770 while resistance is seen around 18,130. It is advisable to continue with a stock specific approach and trade with a watch on the above mentioned levels.”
Adani Ports not to handle some EXIM containerized cargo from 15 Nov
Adani ports on Monday said it will not handle EXIM containerized cargo originating from Iran, Pakistan and Afghanistan from 15 November. The trade advisory will apply to all terminals operated by APSEZ and including third party terminals at any APSEZ port till further notice, according to a report by Moneycontrol. The advisory comes after the Directorate of Revenue Intelligence (DRI), acting on an intelligence input, last month seized nearly 3,000 kg of heroin from Afghanistan at the Mundra Port, located in coastal Gujarat’s Kutch district, the report added.
On market closing: Gaurav Udani, CEO & founder, ThincRedBlu Securities
“Nifty made a new lifetime high of 18,041 today ,where it saw some profit booking.It closed at 17,956, up by 60 points since yesterday’s close. Volumes in Nifty were lesser than its average volumes. It is important for Nifty to close above 17,950 levels with higher than…
Read More: Nifty touches record high of 18K, retreats, Sensex remains above 60K;