On Friday the market had a gap up opening and remained in green for the whole session. At the closing market closed in the green. The market was very much volatile today. On the closing bell, the Nifty index closes at 11647.60, Niftybank index closed above and hold 24523.80, and the Sensex settled above 39467.31. The Nifty index gained around 88.35 points, Niftybank index gained around 923.45 points and the Sensex gained 353.84 points in a single day.
Today, the Nifty index opened at 11602.95 went up to 11686.05, and closed at 11647.60, after making the low of 11589.40. Nifty Bank index opened at 23635.30 and stayed volatile between the high of 24611.80 to the low of 23599.20, and closed at 24523.80.
According to the Nifty Daily chart, If Nifty able to sustain above its Support level of 11550, Then Nifty will go toward 11650 to 11700, Alternatively, If the Nifty breaks and sustain below 11550 levels, then it might retest the level of 11450.
NEWS HIGHLIGHTS
- Nifty Bank rallies nearly 1,000 points; IndusInd Bank up 10%, Federal Bank 8%.
- Max India shares fall 5% on relisting day.
- AirAsia India partners with Avis to offer passengers car rental services.
- ICICI Bank shares jump 4%, ICICI Sec shares inch up 0.2% after the lender sells a 2% stake in brokerage arm.
- Indian rupee soars 43 paise to close at 73.39 against US dollar.
- Tata Sons set aside Rs 16,439 crore in provisions for Tata Teleservices.
Trading zone for the Nifty index on 28th august 2020
Upside Resistance:- 11693, 11738, 11789.
Downside Support:- 11596, 11544, 11499.
Nifty 50
| Advances | Declines |
| 25 | 25 |
In the Nifty 50, 25 stocks traded in green and whereas the only 25 were declined on 28th August 2020.
Top 5 Nifty Gainer and Loser
| Gainer | % | Loser | % |
| Induslnd Bank | 6.73 | JSW Steel | -2.97 |
| Axis Bank | 7.64 | Hero Motocorp | -2.62 |
| UPL | 4.53 | Power Grid Corp | -1.57 |
| ICICI Bank | 4.46 | DR. Reddys Labs | -1.41 |
| Sun Pharma | 4.42 | Infosys | -1.25 |
The most active value-wise stocks were Induslnd Bank, ICICI Bank, Axis Bank, Reliance, SBI, and the volume-wise were SBI, Tata Motors, ICICI Bank, Axis Bank, Induslnd Bank.
FII and DII trading activity on NSE, BSE and MSEI on Capital Market Segment as on 28th August 2020
| FII (Cr.) | DII (Cr.) |
| 1004.11 | -543.56 |
