BSE Sensex closed at 20865 down 29 points, while NSE Nifty closed flat at 6,202 over the previous close.
The Nifty just about managed to stay afloat the 6200 mark for the second straight trading session on Tuesday. After opening with a slight negative bias, the benchmark indices were stuck in a narrow trading band throughout the day struggling around the 6200 mark.
It also was the second consecutive day where the mid-cap and the small-cap indices outperformed the Sensex and the Nifty. Both the indices gained by 0.6% and 1.1% respectively.
Amar Ambani, Head of Research at IIFL said, “Although Nifty has been showing immense resilience above 6,100 but breakout on the upside will be confirmed only with a weekly close above 6,200. Yet again, action was subdued as index heavyweights consolidated after the recent rally. However, we see the momentum in broader markets to accelerate as the CNX Mid-Cap index has broken out from the neckline of a bullish head & shoulder pattern.”
No comments:
Post a Comment