Market flat on first day of new year, PSU shares rise the most
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New Delhi (Uttam Hindu News): New During trading in the stock market on the first day of the year, the market is flat, but the biggest rise was seen in PSU shares. BSE CPSE index is the top gainer with a gain of 1.5 per cent. Among index components, stocks are up as much as 8 percent. Sensex is trading 22 points down at 72,217.51.
KIOCL is up 8 per cent, RailTel 7 per cent, NFL 7 per cent, HOCL 7 per cent, Engineers India 6 per cent, RCF 4 per cent, BHEL 4 per cent, NALCL 4 per cent and NHPC is also up 4 per cent. Vaishali Parekh, vice president of technical research at Prabhudas Lilladher, said Nifty took a sigh of relief near 21,800 area, providing resistance to the ongoing rally and remained range-bound near 21,720 area for the entire session.
Nifty index is likely to hold 21,550 levels as near term support while 22,200-22,300 levels are expected to be the next key target in the coming days, with strong bullish momentum still intact. Support for the day is seen at 21,600 zone while resistance lies at 21,900 levels.
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