Thursday, 27 October 2016
Nifty ends October series above 8600, HDFC up 3%
Today’s Market ended two-day losing flash slightly higher in the irregular session, helping the 50-share NSE Nifty close the October series above 8600-mark, driven by ICICI Bank ITC and HDFC Group stocks.
Equity benchmarks outperformed despite global peers and broader market sentiments. The BSE Sensex was above 79.39 points at 27,915.90 whereas the NSE Nifty closed even level at 8,615.25. Nifty in its daily candlestick chart has shaped a hammer candlestick pattern with a lower shadow, signifying buyers interest at lower level.
The broader markets underperformed the benchmark indices. The S&P BSE Midcap & Smallcap drop at 0.8% - 1.1%. However, further upside was limited due to selling in select auto and IT shares.
About 1601 shares declined whereas 1063 shares have advanced. In October series, the Nifty grown 0.3% and the Sensex was up 0.2%. While the Nifty Midcap leaped 3.5 percent, the BSE Smallcap index gained 6.5%.