Mumbai, Nov 22 (IANS) The Indian stock market was trading in the green on Friday despite geopolitical tensions as heavy buying was seen in the PSU bank shares. Nifty PSU Bank was trading with a gain of 2.88 per cent.
At around 12:17 p.m., Sensex was trading at 78,010.82 after gaining 855.03 points or 1.11 per cent, while the Nifty was trading at 23,620.95 after gaining 271.05 points or 1.16 per cent.
The market trend remained positive. On the National Stock Exchange (NSE), 1725 stocks were trading in green, while 677 stocks were trading in red.
Nifty Bank was at 50,887.85 with a gain of 514.95 points or 1.02 per cent. Nifty Midcap 100 index was trading at 54,706.65 after gaining 321.30 points, or 0.59 per cent. Nifty Smallcap 100 index was at 17,735.50 after gaining 138.90 points, or 0.79 per cent.
In the Sensex pack, SBI, Adani Ports, Ultra Tech Cement, Titan, ICICI Bank and Bajaj Finance were the top gainers. Axis Bank and Sun Pharma were the top losers.
Hardik Matalia, derivatives analyst at Choice Broking, said the continued selling by foreign institutional investors remains a key concern for the domestic market.
“On the downside, the 23,200 level is expected to act as critical support. A break below this level could lead the index to lower to the 23,000 – 22,800 range. Conversely, 23,800 serves as a crucial resistance level, and a sustained close above this mark is essential to reverse the ongoing downtrend. The next resistance is seen at 24,000,” he said.
In this volatile environment, traders are advised to remain cautious, implement strict stop-loss measures, and avoid holding overnight long positions to effectively manage risk.
Foreign institutional investors (FIIs) sold equities worth Rs 5,320 crore on November 21, while domestic institutional investors bought equities worth Rs 4,200 crore on the same day.
–IANS
skt/dpb
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
