Nifty closed above 10350, Bank Nifty share price gained 86 pts today

 

Nifty & Bank Nifty share price updates today: Indian stock market opened in the positive zone with the support of the global markets. The Bank nifty share price today was trading volatile. In the last hour, Indian markets got momentum and extended its gain. The Nifty share price closed above 10350 levels.

The Indian market sentiments got some support after the Union Commerce Minister Piyush Goyal said that he will be talking to USTR Robert Lightthizer in few days to wrap the trade deal which is currently under negotiations. A trade deal between India and The US is under negotiations to promote two-way commerce in a better way.

On the global front, Asian markets were closed in the green. The global sentiments remained positive despite rising new coronavirus infections. Traders are positive with increasing the demand and U-turn in economic growth after the lockdown relaxation. The European markets are also trading more than 1% higher today.

 

Sensex, Nifty and Bank Nifty share price today on spot levels

 

At close, Nifty share price today gained 94.10 points or 0.92% and at 10383 while Sensex was up by 329.17 points or 0.95% and at 35171.27. Bank Nifty was trading volatile in a short-range gained 85.90 points in the end and closed at 21592.05.

The Nifty midcap and smallcap 100 indices gained marginally today. The midcap index gained 33.85 points or 0.23% and at 14975.25. Whereas the Nifty smallcap index was up by 13.85 points or 0.30% and closed at 4708.35 levels.

The top five gainers in the Nifty50 index for the day are Infosys, BPCL, IOC, TCS, and IndusInd Bank. The losers in the Nifty50 index are Bharti Infratel, ITC, Bajaj Finance, Tata Motors, and Kotak Mahindra Bank.

On a sectoral basis, IT & Software gained more than 4% today followed by Oil & Gas, Infrastructure, Manufacturing, and Power. On the losing side FMCG, Healthcare, Electricals, Financials, and Insurance are closed in the red today.

 

The Derivative Market Today: Nifty & Bank Nifty share price in July Series

 

The Nifty futures opened today at 10297.65 made a gap up opening of 52 points today. It has touched an intraday high at 10348.70 and a day’s low at 10235.25

During the day Nifty share price in futures has given a movement of 113.45 points. In the end, it was up by 86.35 points or 84% and closed flat at 10332 levels.

The Bank Nifty share price in futures opened in 21599.95 and made a positive opening of 160.4 points today. It has touched an intraday high at 21717 and a day’s low at 21167.05

During the day the Bank Nifty share price in futures has given a movement of 549.95 points. In the end, it gained by 90.45 points or 0.42% and closed at 21530 levels.

 

Conclusions:

 

The Indian markets gained on the first day of the July series. Indian markets got support from global peers and some heavy buying witnessed in IT & Software sectors and Oil & Gas sectors. Traders completely ignored the increasing coronavirus cases in India and the US. 

To know the market views and Nifty and Bank Nifty share price target for next week you can visit our website on Sunday.

 

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