Nifty closes above 13,550

The stock market hit a new high on December 14. But there was a strong fluctuation during the trade. Similarly, Nifty closed 44 points higher at 13,558 points. The Sensex closed 154 points higher at 46,253.

Even though the Nifty had surged to 11,597 points in the morning it was unable to break the resistance at 11,600 points. From there, it fell to 13,472 points but rose again to 11,550 points.

Foreign investors continue to invest in the Indian market. At the same time, the continuing spread of COVID-19 in the United States and European countries, the possibility of implementing Brexit without an agreement with the European Union, and the continuing unresolved farmers’ demonstration are all factors that are adversely affecting the stock market.

Shares of metal and Public Sector banks are still high. ONGC was the biggest gainer among Nifty stocks. ONGC’s rise is mainly due to higher crude oil prices.

The Nifty Metal Index was up 1.38 per cent and the Nifty PSU Bank Index was up 1.77 per cent. At the same time, auto stocks fell.

The majority of Nifty stocks traded higher. Out of the 50 stocks in the Nifty, 31 stocks gained while 19 stocks lost. ONGC, L&T, Cipla, Coal India and IOC are the top five gainers in the Nifty closes above 13,550. ONGC, L&T, Cipla and Coal India gained over 4 per cent each.