Market LIVE Updates: Auto, metal stocks lead as indices extend gains; Wipro top gainer

Strong positive cues from the global market lent optimism to the Indian market leading to robust recovery though volatility & underperformance were noticed at the end of the day due to concerns over lockdown.

But the weakness in dollar and Fed’s willingness to tolerate more inflation will keep the USDINR spot lower and we expect it to trade in between 74-75.50 next week.

Despite US markets hitting new highs, indices here remained in a range today as FII figures for the first half of the month were not very encouraging but we did see plenty of action in the broader market with Pharma & Metals witnessing investor appetite.

Index closed a week at 14600 zone with loss of 1.50% on weekly basis and formed hammer sort of candle pattern on weekly chart.

At close, the Sensex was up 28.35 points or 0.06% at 48,832.03, and the Nifty was up 36.40 points or 0.25% at 14,617.90. About 1617 shares have advanced, 1230 shares declined, and 152 shares are unchanged.

The breakout on Thursday, 15th April above the resistance level of the Nifty50 Index level of 14500 is positive from a short-term perspective.

The lease has been granted by the Department of Steel & Mines, Government of Odisha, for over an area of 523.73 Ha in villages Nandichhod, Gopinathpur Jungle, Kundajhari Jungle, Kosala & Korada under Chendipada Tahasil of Angul District.

…Read the full story