Nifty 50 Share Market Closing Update: Bank Nifty failed to hold above 19400Premkumar Ramachandran (Author) Published Date : May 28, 2020 16:14 IST
Closing Update 3:00PM: Astrazeneca outlines Cobvid-19 treatment trials. Nifty tests 9490 but fails to hold grounds. Bank Nifty failed to hold above 19400 and trading at 19140 as of 3PM today, EU shines on hopes of stimulus package amid the US-China tensions. Astrazenca shares though are not showing any impact on the news of outlining the treatment trials on Covid-19. Financials lead gain in Nifty50.
Nifty50 Open9364.95, High- 9490.55 Low- 9336.5 and Low- 9314.95. We contined our buying spree on all beaten down counters and short covering taking index to to monthly highs. Top Gainers from Nifty200 are Bombay Burmah 11%, Zeel 10.5%, Aditya Birla Fashions +9.02%, Eicher +8.5% and IndHotels +8.2%.
Top Losers are McDowel -2.6%, PNB -2.6%, Emami -2.5%, BPCL -2.2% and AdaniPower -2.1%. 40 shares from this pack is in red while 160 shares are in green from Nifty200. All Major indices are up with surprise of all around 1.7% gains on Sectoral Indices Pharma and PSUBank are in red while Media is outshining along with Auto and Realty. FinService and Banks are also +2%
VIX is down by 4% at 29.99, FnO gainers are NCC< Zeel, Ujjivan, Eicher and Mothersumi while losers are PNB, AdaniPower, MCdowell, YesBank and Glenmark. Long Buildup seen in IOC, Tatapower, ICICIBank, VDL and MandM while Long-unwinding seen in SRF, Divis, TorntPharm, IBHousing and IDFCFirst. Highest rollover seen in Ramcocem 95%, IDFCFirst 94$, Colgate, MFSL , PNB all at 92%
Nifty if manages a Close Above 9489 can see 9540, 9594 and 9687 while a close below 9454 can see some swinging market between 9189-9586. Close below 9363 can be fresh selling in markets.