Closing Bell: Sensex, Nifty end lower amid volatility; auto stocks zoom

Marco Green
November 27, 2020

Sensex jumps almost 700 in intraday and ends over 431 points or 0.98 per cent higher at 44,259.74 while nifty ends over 12,950 level at 12,987.

In the November series, Sensex rose 11 per cent, Nifty climbed 10.71 per cent and Bank Nifty index surged 22 per cent. The underlying trend remains intact as long as this support is decisively broken and every dip can be utilized to initiate a fresh long position. On the upside, Nifty might face some resistance at 13,000-13,050 level.

Top gainers on the benchmark indices are JSW Steel, Tata Steel, Grasim, Bajaj Finance and Adani Ports. We expect prevailing consolidation to continue in the index however there'll be no shortage of trading opportunities in broader markets.

Nifty Bank also recovered losses towards the end of the session and some of the PSU Banks gained substantially. While the S&P BSE MidCap index surged 1.91 per cent to 16,915, the S&P BSE SmallCap index rallied an impressive 2.4 per cent to 16,875 levels. While losers in trade have been Eicher Motors, Maruti Suzuki, BPCL, Tech Mahindra, HDFC Life.

The overall market breadth was positive as 1,768 shares ended higher, while 989 closed lower on the BSE.

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