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Share Market LIVE: Nifty touches 16000, Sensex jumps 500 pts; Services PMI rises fastest since 2011

05 Jul , 2022   By : Monika Singh


Share Market LIVE: Nifty touches 16000, Sensex jumps 500 pts; Services PMI rises fastest since 2011

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets indices BSE Sensex and NSE Nifty 50 were up 0.5% on Tuesday. BSE Sensex jumped 289 points or 0.54 per cent to 53,523, while NSE Nifty 50 topped 15900 on Tuesday. Reliance Industries Ltd (RIL), Tech Mahindra, ICICI Bank, State Bank of India (SBI), Power Grid Corporation of India, HDFC, HDFC Bank were among top BSE Sensex gainers. Only one stock on S&P BSE Sensex was in red. Asian Paints share price was down nearly half a per cent. All the Nifty sectoral indices were ruling in the green. Nifty Bank index jumped 0.6 per cent, Nifty Metal was up 1.2 per cent, and Nifty IT rose 0.3 per cent. HDFC share price rose 0.6 per cent, and HDFC Bank stock price was up 0.5 per cent after these two received RBI approval on merger.

“The rejuvenation of upward momentum after witnessing slower pace of retracement and improving market breadth makes us believe index would resolve higher and gradually head towards 16200 in coming weeks.”

Rising from 58.9 in May to 59.2 in June, the seasonally adjusted S&P Global India Services PMI Business Activity Index was at its highest mark since April 2011 and signalled a steep rate of increase. Moreover, the acceleration in growth was broad-based across the four monitored sub-sectors. According to panellists, the upturn stemmed from ongoing improvements in demand following the retreat of pandemic restrictions, capacity expansion and a favourable economic environment.

“Re-Iterate Bullish view on Nifty. Expecting Targets of 16,200/16,400 & 16,800. Given Long Recommendation at 15,682. Ride your winning trades with Trailing Stoplosses,”

All the Nifty sectoral indices were ruling in the green. Nifty Bank index jumped 0.6 per cent, Nifty Metal was up 1.2 per cent, and Nifty IT rose 0.3 per cent




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