Stock Market Closing Bell: On account of profit-booking the Indian indices pared its early morning gains and finally ended in red zone after the closing bell. The BSE Sensex slide 19 points and closed at 51,314 after making an intraday high of 51,829. The NSE Nifty closed 6.50 pints lower at 15,109.30 sustaining above the psychological 15,000 mark.
Speaking on the current market trends; Rohit Singre, Senior Technical Research Analyst at LKP Securities said, “Overall the market trend is bullish. Currently, 50-stocks Nifty has immediate support at 15,000 levels and has immediate target of 15,300 to 15,400. The trend won’t chagne till the NSE Nifty is above 14,750. I would recommend buy on dips strategy till the Nifty is above 14,750 levels.”
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Shares of Balaji Amines, Neuland Laboratories, IIFL Finance, Borosil Renewables and future Retail were among the major gainers while shares of Balkrishna Industries, Hinduja Global Solutions, Torrent Pharmacutical, Star Cement, NCC and Mastek were among the top losers in the intraday trade session.
Telecom stocks led the bull run on Dalal Street as the BSE Telecom index ended 0.99 per cent higher after the closing bell today. Telecom major Vodafone Idea share price skyrocketed 3.76 per cent, Tata Communications shares surged 2.21 per cent, Indus Towers shares added near 7 per cent, ITI stock price went northward 2.52 per cent while GTPL Hathway stocks added 2.45 per cent after the closing bell today.