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Monday, 24 October 2016

Nifty ends above 8,700, Sensex up 102 Points; ONGC, ICICI Bank lead

In Monday’s closing market, Equity benchmarks extended gains with the Nifty closing above 8,700 level extraordinary since October 6, supported by ICICI Bank, Tata Motors & ONGC. Positive global cues also lifted the market sentiment. 

The Sensex has rallied 1.5% last week. After a consolidation, the 30-share BSE Sensex was up 101.90 points at 28,179.08 and the 50-share NSE Nifty gained 15.90 points at 8,708.95. 

The BSE Midcap underperformed benchmarks in spite of positive breadth. About 1,679 shares advanced while 1,168 shares declined. 

Experts continue to anticipate the market to be in range of 8,500 to 8,900 till the end of December since US elections and Federal Reserve's December meeting will add to volatility.


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