Home Business Share Market highlights: Sensex tanks 487 pts on closing, Nifty ends above 15,000; RIL, bank stock dragĀ indices

Share Market highlights: Sensex tanks 487 pts on closing, Nifty ends above 15,000; RIL, bank stock dragĀ indices

Financial Express - Business News, Stock Market News

“Nifty has rallied to a near one-month high today, boosted by strong overnight cues from Wall Street. The passage of the $1.9 trillion US fiscal relief package has caused risk appetite to return, lifting the S&P 500 and Dow Industrials to life-time highs and cooling off the rally in US yields and dollar. Domestically, IT and financials have underpinned the up move in Nifty. Technically, since hitting its life-time high on Feb 16th, Nifty has been undergoing a consolidation within a 1,000 point range. Also, for each of the last six sessions, the candle bodies have been very small, indicating indecisiveness. Today, Nifty has managed to surpass its previous minor high of 15,273. To resume the uptrend and advance towards its life-time high, it is crucial that the index stays above 15,273 today. If not, the short-term consolidation is likely to continue,” said Abhishek Chinchalkar, CMT Charterholder and Head of Education, FYERS.

This article is auto-generated by Algorithm Source: www.financialexpress.com

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