With inflation continuing to stay high globally and the risk of sustained rate hikes from global central banks pushing economies into a recession, 2023 is likely to be challenging for equity markets.
With inflation continuing to stay high globally and the risk of sustained rate hikes from global central banks pushing economies into a recession, 2023 is likely to be challenging for equity markets.
For bulls, 18000 would be the sacrosanct support zone, and above the same, the pullback formation will continue till 18200-18270. On the flip side, below 18000, the uptrend would be vulnerable and the index could retest the levels
The Nifty Pharma index closed 0.91 per cent up at 12770.6.
The software major also announced a special dividend of Rs 67 per share and an interim dividend of Rs 8 per share.
The Nifty Auto index closed 1.23 per cent up at 12783.0.
The Nifty Realty index closed 0.61 per cent up at 428.45.
In the Nifty pack, 44 stocks closed in the green, while 6 stocks ended in the red.
At the close, Sensex ended 847 points higher at 60,747, while Nifty50 climbed 1.35% to 18,101 points . Broader markets, however, underperformed the headline indices. Among sectoral indices, Nifty IT clocked the maximum gains of 3%.
The NSE Nifty index closed 241.75 points up at 18101.2