Now Reading: Sensex gains 374 points as Nifty ends nearly flat
-
01
Sensex gains 374 points as Nifty ends nearly flat
The Sensex rose 373.76 points, or 0.48 per cent, to 78,954.76 on Thursday, while the Nifty 50 added 11.35 points, or 0.05 per cent, to close at 24,636. The Hindu BusinessLine reports…
The Story in Brief
The Sensex rose 373.76 points, or 0.48 per cent, to 78,954.76 on Thursday, while the Nifty 50 added 11.35 points, or 0.05 per cent, to close at 24,636. The Hindu BusinessLine reports that the gap between the benchmarks has continued for four sessions since the NSE introduced its Closing Auction Session on August 3. Market observers attributed the divergence to differences in institutional orders and auction-window liquidity, rather than a fundamental split.
Defence stocks rose nearly 3 per cent. Jubilant FoodWorks closed at Rs 473.75 after reaching a four-month high of Rs 495.10. The Hindu BusinessLine’s trading plan suggests buying near Rs 473, adding at Rs 460, and keeping an initial stop-loss at Rs 430, with a profit target of Rs 600.
The Indian Opinion
The easy story is that a rising Sensex means a broadly strong market, while the opposing claim is that the index gap signals a broken market. Neither is established by one week of auction data. The move in defence shares and the proposed Jubilant trade also do not describe the whole market. Investors should watch whether the Sensex-Nifty gap narrows after the new closing process settles, and whether it persists beyond the next few sessions.
Source: thehindubusinessline.com
This story was synthesised by AI from the source linked above.
