Closed market with excellent recovery

Written by: CapitalAim on December 11, 2018

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  Closed market with excellent recovery

Today, forgiving the weaker beginning of the market, closing with strong speed has happened. Today the Sensex was open with a drop of 500 points but with the clearance on the results of the assembly elections, there was a good recovery of around 700 points in the market by lower levels. During the closing, the Sensex gained nearly 200 points, while the Nifty also managed to climb above 10,550. Today also show strong action in the mid-caps and bank shares.

The BSE midcap index closed 1.54% higher at 14669.36. Small-cap stocks also saw good shopping. BSE's Smallcap index closed at 14058.76, making an increase of 1.54% today. However, in today's trade, oil and gas stocks got under pressure, with BSE's oil and gas index closing down 0.21%.

Bank stocks also saw strong action today, which led to the Bank Nifty closing at 26163 with an increase of 0.23%. PSU Banko was a special hit today, in the end, the Nifty's PSU Bank Index was up 2.6% and the private bank index closed at 0.3%.

Pharma, FMCG, IT and auto stocks today witnessed the biggest gain. At the end of the trading, Nifty's pharma index was up 2.4%, FMCG index 1.2 percent, IT index 1.1% and auto index climbed 0.7%.

At the end of the turnover, BSE's 30-share index Sensex closed at a level of 190.29 points i.e. 0.54% and level at level of 35150.01. On the other hand, NSE's 50-share index Nifty closed 60.70 points, ie 0.58%, at the level of 10549.15.

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