Sensex Today: The indices Sensex, Nifty are trading off the day’s highs in Friday’s intra-day trades owing to weakness in select IT and bank shares.
The S&P BSE Sensex touched a high of 74,478, and quoted around 74,000-mark, up 150-odd points. The NSE Nifty was seen holding the 22,500 level.
On the BSE, M&M, Bajaj Finserv were the top gainers while Maruti, Infosys were among the major laggards.
Similarly, on the NSE, Adani Ent, Apollo Hospitals were the top gainers while Maruti, LTIMindtree were among the top losers.
Broader indices were buzzing in trade, Nifty Midcap rose 0.67 per cent while SmallCap was trading 0.50 per cent higher
Sectorally, the Nifty Realty led with over 2.50 per cent gains, followed by Financial Servives (up 0.86 per cent).
Moring View by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
The market is tantalisingly poised with the possibility of a sharp move based on the exit poll results tomorrow evening. Since the Nifty is down around 600 points from the May high, if the market move is up it can be sharp and swift. Largecaps in financials, autos, capital goods and telecom have the potential to lead the rally. On the other hand, if the exit polls indicate a trend unfavourable from the market perspective, again the crash can be sharp and swift.
It is important to note that the DIIs have bought stocks for Rs 53618 crores in the cash market so far this month. This is around Rs 10000 crores more than the FII selling. The DIIs have enough funds to buy aggressively if the situation turns favourable.
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