The 50-stocks bundle opened on a lower note at 7735.15 down by 65.90 while the Banknifty was start the day under pressure at 16759.95 down by 347.35 points. In the afternoon session benchmark indices extended the gains with Nifty trading above 8250 surged by 6.15%. India VIX which measures the implied volatility of Nifty50 is decreased by 6.42 percent at 78.23. Nifty midcap and smallcap index is up by 2.08% and 1.81% respectively. Axisbank, Reliance and ICICI bank are the top gainers while Indusindbk, Coalindia and Ongc are the top losers. The market breadth is tilted in the favor of buyers as 974 shares are advanced and 723 shares are declined and 412 shares are unchanged. Among sectoral front, all the sectors are trading with positive biasness with Nifty Financial services index surged by 7.66%. The index is opened on a gap up note at 11260.30 and continue to trade at higher level. Index made a high of 11981.30 and if it close above the levels of 11800 then a bullish momentum can be seen in the stock. On daily chart, it is trading below 50 days and 100 days moving average and the RSI level is placed at 26.98 which is below 30, indicates the oversold zone . The Indian currency market is closed today on the occasion of Gudipadwa.
Some stocks of this counter are also witnessing heavy volumes and momentum that are convincing the emerging trends.
- ICICIGI: It is the top gainer in the sector trading at 984.45 up by 15.69%. The delivery volume in the stock increased by 167.08% in the month. It is trading below 50 days and 100 days moving averages.
- AXISBANK: It is the second highest gainer in the sector trading at 342.20 increased by 12.88%. It is trading below 50 days, 100 days and 200 days simple moving averages. The delivery volume in the stock is surged by 166.85% in the month.
- ICICIPRULI: The stock is trading at 286.90 up by 12.75%. It is trading below 50 days, 100 days and 200 days moving averages. The delivery volume in the stock is fell by 18.21% in the month.