The Nifty rose above 11,600 for the first time on December 16. Similarly, the wide-based National Stock Exchange Nifty closed 115 points higher at 13,682. The Sensex was up 403 points and closed at 46,666 points.
The Nifty broke the strong resistance of 11,600. The Nifty has been hovering around 11,600 in the last few days.
The Nifty, which opened above 11,600 on December 16, never went below 11,600 points.
Meanwhile, Nifty Bank Index, which has been the main bank in the Nifty for the past few weeks, did not show any significant gains on the day. Shares of real estate, metal and pharma were the top gainers on the day. Shares of public sector banks fell. The Nifty Metal index rose by 1.79 per cent. Meanwhile, the Nifty PSU Bank Index fell by 1.63 per cent.
The Nifty real estate index rose more than five per cent. Housing demand is expected to pick up. Godrej Properties recorded the highest price ever. Indiabulls Real Estate rose 15 per cent and DLF 10 per cent.
Recently, real estate stocks performed better than the Sensex and Nifty. The Nifty Real Estate Index has risen over 20 per cent in the last one month. At the same time, the Nifty is up only seven per cent in a month.
Most of the stocks in the Nifty gained on the day. Out of the 50 stocks in the Nifty, 36 gained while 14 lost. Hindalco, Bharti Airtel, HDFC, Divis Lab and ONGC were the top five gainers in the Nifty. These stocks gained over 2 per cent.
