After the stimulus package announced by the US government, all the Asian markets start the day with happy mood and domestic indices also followed them. The Indian Bourses opened on a higher note at 8451 up by 133.15 points while the Banknifty opened at 18781.85 increased by 300.80 points. In Mid-day session Nifty erased all its morning gains and trading near 8500 levels. India VIX which measures the implied volatility of Nifty50 is decreased by 6.06 percent at 72.91. Nifty midcap and smallcap index is up by 2.78% and 3.14% respectively. Indusindbk, Axisbank and Bhartiartl are the top gainers while Maruti, Adaniports and Gail are the top losers. The market breadth is tilted in the favor of buyers as 1303 shares are advanced and 441 shares are declined and 374 shares are unchanged. Among sectoral front, except Nifty metal all the sectors are trading with Bullish sentiments with Nifty Pvt Bank index surged by 6.43%. The index is opened on a gap up note at 9967.40 and extended its gains. Index made a high of 10987.70 but some profit booking is seen in the stock. The immediate support level are placed at 9900 and 9500 respectively. On hourly chart, it is trading above 8 days and 24 days moving average and the RSI level is placed at 56.90 which indicates no sign of divergence. The Indian rupee is opened at 75.86 per dollar and currently it is trading higher at 75.42 per dollar.
Some stocks of this counter are also witnessing heavy volumes and momentum that are convincing the emerging trends.
- INDUSINDBK: It is the top gainer in the sector trading at 409.85 up by 36.03%. The delivery volume in the stock increased by 100.03% in the month. It is trading below 50 days, 100 days and 200 days moving averages.
- BANDHANBNK: It is the second highest gainer in the sector trading at 202.95 increased by 31.15%. It is trading below 20 days, 50 days, 100 days and 200 days simple moving averages. The delivery volume in the stock is surged by 219.71% in the month.
- AXISBANK: The stock is trading at 363.80 up by 11.32%. It is trading below 100 days and 200 days moving averages. The delivery volume in the stock is up by 241.74% in the month.