Due to widespread buying across all industries, markets reached a new all-time high and closed the day at record highs. While the Sensex increased by 0.1% to 80,664, the NIFTY50 index increased by 0.3% to close at 24,586.
With the exception of IT (-0.2%), every significant sectoral index ended the day positively. The top three performers were PSU Banks (+1.0%), Oil & Gas (+1.9%), and Reality (+1.3%).
The NIFTY50 has created a doji candlestick pattern on the daily chart, representing investor hesitancy at historically high levels. A neutral candlestick pattern called a doji suggests that the opening and closing prices are roughly equal.
Since the doji is regarded as a neutral pattern, traders will receive additional directional cues from a close above or below it. A close below the doji would suggest weakness and profit-booking ahead of the Union Budget next week. In contrast, a close above would indicate a continuation of the current bullish trend.
Following the release of its Q1FY25 results, HCL Technology gave up its intraday gains (+5%) and ended the day flat. Due to a one-time increase in other income, the company’s net profit increased 6.8% to ₹4,257 crore, despite its revenues falling 1.6% quarter over quarter to ₹28,057 crore.
Also Read:
With Fresh Features and Styles, will Apple Watch Commemorate ten Years
The $4.5 Billion Purchase of Financial Software Rovider Envestnet by Bain Capital
