Nifty holds crucial level of 8800; HDFC Bank was the star performer

Nifty closed at 8821.70 levels, up by 43.70 points or 0.50%; while Sensex closed at 28468.75 levels, up by 167.48 points or 0.59%.
 
There were 866 advances, 757 declines and 292 unchanged stocks on NSE, reflecting the strong positive sentiments floating in the market.
 
HDFC Bank Limited was the top performer in the morning hours on Friday. The stock opened at Rs 1445 per share, up by Rs 117.1 per share or 8.81%. It touched a high of Rs 1454 per share, up by Rs 126.10 per share or 9.49%.  However, the stock managed to close at Rs 1375 per share, up by Rs 47.10 per share or 3.55%.
 
HDFC Bank Limited pushed the Bank Nifty up to an all-time high of 21042.35 levels, gaining 798.65 points or 3.94%.
 
Axis Bank bucked the trend in banking space, and closed down by 0.81%. SBI, PNB and BoB closed in negative territory, down in the range of 0.60% to 0.80%.
 
ICICI Bank closed up by 1.70%. IndusInd Bank closed up by 1.16%.
 
Nifty Pharma index was the top gainer among the sectoral indices. The index closed at 10605.95 levels, up by 198.20 points or 1.9%.
 
Zydus has received final approval from the USFDA for Fluconazole Tablets USP and Clobetasol Propionate Spray. The stock touched its fresh 52 week high of Rs 460.75 per share, up by Rs 31.25 per share or 7.27%.
 
BSE Metal index closed in red, down by 0.67%. BSE IT index closed down by 1.10%. BSE Telecom index closed down by 0.33%. BSE Auto Index closed down by 0.20%.
 
Broader markets closed in positive territory. BSE Mid-cap index closed at 13422.89 levels, up by 70.30 points or 0.53%. BSE Small-cap index closed at 13467.64 levels, up by 53.69 points or 0.40%.

Opening Bell - Nifty firmly opened above 8850 levels; HDFC Bank pushes Bank Nifty to record high

At 9:15 AM, the BSE Sensex opened higher by 369.16 points at 28670.43, while the Nifty50 opened higher by 93.8 points at the 8871.80 mark.
 
The rupee opened at 67.12 per dollar down by 5 paise.
 
There are 955 advances, 398 declines and 426 unchanged stocks on NSE reflecting positive bias in the morning hours on Friday.
 
HDFC Bank is the top Nifty gainer trading at Rs 1440 per share, up by 8.44%. Idea Cellular Ltd is the top Nifty loser trading at Rs 105.50 per share, down by 2.18%.
 
Immediate resistance for Nifty50 is placed at 8820-8830, if sustains over 8820-8830 further rally towards levels of 8890 is likely. On the other side, 8700-8710 is a strong support zone for Nifty50.
 
The European markets closed lower on Thursday. FTSE 100 closed lower by 24.49 points; CAC 40 closed lower by 25.40 points and German DAX closed lower by 36.69 points.
 
The Dow Jones Industrial Average closed at a record for a sixth session in a row. An announcement by President Donald Trump that a new health plan to replace the Affordable Care Act is likely by March ahead of his proposed tax reform also dampened sentiment. NASDAQ composite index closed, down by 4.54 points.
 
The Asian markets are trading with mixed sentiments. Nikkei 225 is trading lower by 138.68 points; Shanghai Composite is trading lower by 11.34 points while SGX Nifty is trading higher by 72 points.