Stock market today: Sensex ends up over 100 points, Nifty 50 above 23,500; metal, realty, bank stocks shine; auto drags

The 30-share BSE Sensex ended higher by 141.34 points or 0.18% at 77,478.93 level while the Nifty 50 closed at 23,567.00 level, up 51.00 points or 0.22%.

On the broader market front, the Nifty Midcap 100 closed 0.95% higher, while the Nifty SmallCap 100 ended up 0.61%, both outperforming the benchmark indices. The fear gauge index, the India VIX closed 2.68% lower on Thursday. 

According to Rajesh Bhosale – Equity Technical and Derivative Analyst, Angel One, since last week, bulls have regained control of the market, continuously moving higher after the hiccup seen on Election Results Day. Prices have climbed more than 2,000 points from the panic low of 21,281 made on June 4th. The bias remains positive; however, in the last few sessions, momentum has slowed down. While the index continues to rise at a slower pace, trading activity has shifted outside the index, focusing on mid-cap and small-cap spaces that are performing well. Going ahead, expect this trend to continue. The next key level to watch would be 23,800–23,830, whereas 23,400–23,300 is immediate support. 

(more to come)

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Published: 20 Jun 2024, 03:30 PM IST