Sensex up 127 points

After a day’s decline, the stock market is on the path of gain. The Sensex was up 127 points on October 23 and the Nifty was up 34 points. The Sensex closed at 40,685 points. It was up 40,811 points but could not cross the 41,000 level.

The Nifty closed above 11,900 again. The market closed with a gain after strong fluctuations.

The Nifty, which had gained 11,974 points, had a strong resistance at 12,000 points. The stock traded lower by 11,908 points during the day. However, it rose to 11,930 points at the close of trading.

The majority of Nifty stocks traded higher on the day. Out of the 50 stocks in the Nifty, 29 stocks gained while 21 lost. Maruti Suzuki, Mahindra & Mahindra, Tata Steel, Powergrid and Bajaj Auto are the top five gainers in the Nifty on the day. Maruti Suzuki India gained 4.26 per cent. Shares of Mahindra & Mahindra, Tata Steel, Powergrid and Bajaj Auto gained over 2 per cent each.

Automobile stocks were the main gainers. The Nifty Automobile Index rose 2.93 per cent. Shares of Motherson Sumi, Bharat Forge and Maruti Suzuki gained over 4 per cent. At the same time, real estate stocks came under selling pressure.

Ultratech Cements, HCL Tech, Hindustan Unilever, GAIL and Hindalco were the top five losers in the Nifty. Ultratech Cement fell 2.44 per cent.