Market closing comments by Mr Shrey Jain, SAS Online - India`s Deep Discount Broker
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Below the Quote on Mid Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker
On March 1, Indian benchmark indices surged for the second consecutive session, reaching new record highs. The Nifty surpassed the 22,300 mark, buoyed by positive global signals, robust GDP numbers, and a rally in metals and oil marketing stocks. At the closing bell, the Sensex soared by 1,245.05 points or 1.72 percent, reaching 73,745.35, while the Nifty climbed by 356.00 points or 1.62 percent, closing at 22,338.80.
In the weekly perspective, the Sensex, Nifty, and Nifty Bank extended their gains for the third consecutive week, advancing by up to 1% each. Conversely, the Midcap index broke its four-week winning streak, declining by 1%.
Tomorrow's special live trading session holds significance, with the Nifty's projected target aligned at 22,640, while 22,200 stands firm as a robust support level. Any retracement towards this support zone is perceived as an opportune moment for buyers.
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