Stock market today: After witnessing a massive sell-off on Wednesday, the Indian stock market shifted into a reasonable upside bounce amidst positive market breadth on Thursday. The Nifty 50 index added 148 points and ended at the 22,146 level, the BSE Sensex gained 335 points and closed at the 73,097 level whereas the Bank Nifty index finished 191 points lower at the 46,789 mark.
In the broad market, both small-cap and mid-cap indices outperformed the key benchmark indices. The small-cap index surged 3.11 percent while the mid-cap index shot up 2.28 percent.
On the outlook for Nifty today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, "A sustainable upside bounce of Thursday could be a cheering factor for bulls to make a comeback. But a strong follow-through upside move from here could pull Nifty towards the hurdle of 22,450 to 22,500 levels.
Any failure could open another round of weakness from the lower highs." On the outlook for the Bank Nifty today, Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said, "The Bank Nifty index also halted the slide near the significant 50EMA level of 46,600 zones and remained sluggish failing to sustain above the 47,000 levels during the intraday session. A decisive move past 47,300 levels is necessary to improve the bias to some extent and thereafter, anticipate further rise." Speaking on the Nifty Call Put Options data, Chinmay Barve, Head of Technical and Derivative Research at Profitmart Securities said, "The major total Call open interest was seen at 22400 and 22500 strikes with a total open interest of 47698 and 54271 contracts respectively.
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