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  1. BANK NIFTY nears all-time high, NIFTY50 holds ground at 22,500

BANK NIFTY nears all-time high, NIFTY50 holds ground at 22,500

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Upstox

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2 min read โ€ข Updated: April 5, 2024, 6:37 PM

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Summary

The BANK NIFTY built on its morning gains after the RBI kept the interest rates unchanged, closing just near its all-time high. The index firmly stayed above the 48,000 mark throughout the day, fueled by aggressive put writing at 48,000 and below strikes for 10 April expiry.

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SENSEX, NIFTY50 end flat, Banking and Realty stock shine after RBI keeps policy rate unchanged.

After a subdued start on weak global cues, the markets consolidated at higher levels and closed flat. The NIFTY50 and SENSEX traded in a narrow range throughout the day after the RBI decided to keep the policy rates unchanged and closed flat at 22,513 and 74,248 respectively.

  • Top gainer and loser in NIFTY50: Kotak Mahindra Bank (+1.9%) and Grasim (-1.9%)

  • Broader markets extended the rally and continued to outperform the benchmark indices. The NIFTY Midcap 100 closed at a record high and gained 0.5%. The NIFTY Smallcap 100 index was up 0.8%.

  • Top gainer in NIFTY Midcap 100: Indraprastha Gas (+5.5%)

  • Top gainer in NIFTY Smallcap 100: IIFL Finance (+12.9%)

The NIFTY50 remained range-bound on Friday, trading within Thursday's session and failing to confirm the potential bearish reversal pattern (hanging man) formed on Thursday. However, the formation of a doji candle today highlights the indecisiveness of traders at current levels. A break above or below Thursday's range on a closing basis will be crucial in determining the index's next move.

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Key highlights of the day:

  • โญMarico rose 3% as the company said in its fourth quarter update that its business saw a slight uptick in volume growth across all products. The company said its top line grew in low single digits, returning to positive territory after three quarters.

  • ๐Ÿ Godrej Properties (+1%) was in focus after the company sold โ‚น2,960 crore worth of flats within fifteen months of acquiring land in Kandivali, Mumbai.

Top traded futures contracts

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Top traded stock options contracts

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Four trading insights from NIFTY 200๐Ÿ”

  • ๐Ÿ“‰Open = High (Bear power): Bajaj-Auto, LTI Mindtree, L&T Finance, Page Industries and Escorts Kubota

  • ๐Ÿ“ˆOpen = Low (Bull power): ICICI Lombard, Fsn E-Commerce (NYKAA), Torrent Pharmaceuticals, Mahindra and Mahindra Financial and Lupin

  • ๐Ÿ—๏ธFresh 52 week-high: IPCA Laboratories, Vedanta, ABB, Indus Towers, ICICI Prudential and Bharat Electronics

  • โš ๏ธFresh 52 week-low: N/A

And that's it for today's F&O recap! Get the full scoop on market trends and curated scans at https://pro.upstox.com/

See you on Monday!