Stock market today: Sensex rose 584 points, Nifty 22546, 226 shares reached year’s highest level – ..

Stock Market Today: Indian stock markets started the week today with improvement. Sensex today fell to 73922.34 after opening at 73982.75. The latter rose 584.38 points to 72314.54. At 10.57am it was trading at 74233.71, up 503.19 points.

The stock market has improved due to the rise in PSU shares. Shares of IndusInd Bank, ICICI Bank, Kotak Bank are trading at a gain of 2 to 3 percent. Along with this, 22 shares of Sensex pack are trading in favor of improvement and eight in favor of decline.

Smallcap Midcap reached high again today

The index again touched its all-time high today with most stocks in the smallcap and midcap segments jumping up to 20 per cent. The smallcap index hit a historic high of 47599.25 points and the midcap index hit a historic high of 47599.25 points. Besides, capital goods, consumer durables, oil & gas and realty indices also hit record highs. As of 11.04 am, IREDA was trading up by 8.53 per cent, Yes Bank by 5.05 per cent, Supreme Industries by 7.81 per cent.

technical strategy

Technically Nifty-50 has formed a higher wave type candle stick pattern on the weekly chart, indicating indecision between bulls and bears regarding the future market trend. Overall, the trend may remain in favor of the bulls as long as the index remains at the level of 22,300. However, there was a dark cloud cover candlestick pattern on the daily chart on Friday, which was a bearish reversal trend. If the level of 22500 persists for a few days, then Nifty can reach the level of 22800 with a bullish trend.

Of the 3840 stocks traded on BSE, 2056 advanced and 1574 declined. 226 shares reached year’s high while 10 shares reached year’s low. Till the time of writing the news, upper circuit was imposed in total 310 shares. Whereas lower circuit was seen in 189.