Benchmark indices ended in the green on April 16 with the Sensex closing 223 points higher at 30,602.61 and Nifty finishing 68 points up at 8,992.80. Mid-caps and small-caps outperformed the benchmarks as their sectoral indices on BSE closed 1.42 percent and 1.71 percent higher.
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services said the market would continue to remain volatile as it would track the trend in coronavirus cases and government relief measures to combat the economic crisis due to it. Earnings season has kicked started, and thus investors would be focusing on the management commentary with regards to the impact of COVID-19 on their respective businesses, he said.
Nifty Bank closed 1.80 percent up at 19,400. The important pivot level, which will act as crucial support for the index, is placed at 18895.5, followed by 18,391. On the upside, key resistance levels are placed at 19,712.4 and 20,024.8.
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