Midday markets update: Sensex, Nifty sustain gains

NSE Nifty was up by 0.48 per cent or 103.05 to 21,754.35 points, while the BSE Sensex was at 72,375.90, up by 0.46 per cent or 337.51 points. A total of 3,853 stocks were actively traded; 1,794 advanced, while 1,914 declined, and 145 stocks remained unchanged, where 312 stocks hit a 52-week high and 18 stocks hit a 52-week low at 1 pm on Thursday.

Mr Shrey Jain, Founder and CEO SAS Online – India’s Deep Discount Broker, said, “Indian stocks are reaching new highs, buoyed by optimism surrounding the nation’s macroeconomic fundamentals and robust global market trends. Currently, Nifty is at 21,700, with Bank Nifty surpassing 48,400.

Looking at the technical side, Nifty50 is expected to stay supported between 21,575 and 21,600. The 21,800 Call strike has a lot of interest, with about 82 lakh shares. On the other hand, the 21,500 Put strike is also significant, with around 135 lakh shares. For Bank Nifty, a strong support range is between 48,000 and 48,150.

The 48,500 Call strike has meaningful interest with about 26 lakh shares. Meanwhile, on the Put side, the 48,000 strike has a considerable interest of around 36 lakh shares. Overall market sentiments are positive, FIIs have made substantial purchases, so adopting a “buy on dip” strategy is advisable.”

Top gainers on the NSE at 1 pm include – Coal India (2.97%), Nestle India Ltd (2.37%), NTPC (2.14%), Britannia Industries Ltd (1.81%), Bharat Petroleum Corporation Ltd (1.99%),

Top losers on the NSE include- Ultratech Cement Ltd (-0.82%), Eicher Motors Ltd (-0.73%), Asian Paints (-0.47%), Grasim Industries Ltd (-0.48%), Maruti Suzuki India (-0.46%)

BSE smallcap is up by 0.21%, and midcap is up by 0.48%, indicating gains.

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