nifty greece grexit

Market rejoices as Greece cheers bulls

by Prateek Mazumder on Market Analysis
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Global Markets rejoiced today after the European Union agreed on a bailout package for Greece, but on certain applied conditions. Major global indices including DJIA (+1.21%), S&P 500 (+1.23%), FTSE (+0.61%), DAX (+1.28%) and SENSEX (+1.08%) were on the upside. Nifty too joined the celebrations and closed at 8461 (1.25%). It made a high of 8471 and a low of 8355 during the day.

Among the sectors, there were to losers today. The highest gainers today were CNX MEDIA (+3.12%), CNX IT (+1.86%), CNX AUTO (+1.66%) and CNX PHARMA (+1.28%). In the Media the sector, the highest gaining stock today was INOXLEISUR (+7.05%). It opened at 174.40, made a high of 191, a low of 174.40 and finally closed at 174.40. Its current support is at 163.5 while its resistance is at 191.30.

There were few losers in the stocks of NSE. ONGC (-0.99%), LT (-0.84%) and BANKBARODA (-0.13%) were the only stocks that didn’t ride the rising market. The biggest gainers were HCLTECH (+3.88%), BPCL (+3.59%), INDUSINDBK (+3.88%), ZEEL (+3.50%) and GAIL (+3.08%). HCLTECH opened at 934.90, and with a high of 963.00 and low of 934.60, it closed at 960.85. Its current support is at 840.40 while resistance is at 1026.00.

While the bull run in the market today was mostly sentiment driven, a volatile scenario is expected in the near term. The total advances in the Nifty was 46 while the declines were 3 and 1 remained unchanged.


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