Bank Nifty Live Updates: Trading Insights for October 7, 2024
As we delve into the market performance for today, the Bank Nifty index is showing noteworthy activity. Here’s a comprehensive update on the latest trading status, including key price movements, sector performance, and important resistance and support levels.
Current Market Snapshot
As of 16:45 IST, Bank Nifty is trading at ₹50,478.9, reflecting a decline of 1.91% Today, the index has fluctuated within a range of ₹51,784.8 (high) to ₹50,194.3 (low).
Nifty futures are also down at ₹51,069.95 (-1.55%) with a significant open interest change of 20.15%, suggesting a continuation of the downtrend.
Gainers and Losers of the Day
Top Gainers:
- Au Small Finance Bank
- IDFC First Bank
Top Losers:
- Federal Bank
- Punjab National Bank
- State Bank of India
Key Price Movements
At various points throughout the day, Bank Nifty has demonstrated significant trading volume and price action. Here’s a breakdown:
- Close of Day: Bank Nifty closed at ₹51,462.05, down 1.61% from the previous close.
- Intraday High: ₹51,784.8
- Intraday Low: ₹50,194.3
52-Week Highs and Lows
Today, stocks like IDFC First Bank have breached their 52-week low at ₹70.43, indicating some bearish sentiment in certain segments.
Trading Volume Insights
High trading volumes were noted in the following stocks:
- Punjab National Bank: 83,302,938 shares
- HDFC Bank: 47,228,847 shares
- IDFC First Bank: 33,499,606 shares
Resistance and Support Levels
As of the latest updates, here are the critical resistance and support levels for the Bank Nifty:
Resistance Levels:
- R1: 52,099.8
- R2: 52,737.55
- R3: 53,690.3
Support Levels:
- S1: 50,509.3
- S2: 49,556.55
- S3: 48,918.8
Sector Performance
Across the NSE, here’s how major sectoral indices are faring today:
- NIFTY 500: ₹23,181.95 (-1.5%)
- NIFTY Auto: ₹25,807.15 (-0.46%)
- NIFTY Bank: ₹50,478.9 (-1.5%)
Conclusion
Today's trading session highlights the ongoing volatility within the Bank Nifty, with a clear downtrend in various banking stocks. Investors should remain vigilant, closely monitoring market movements and sector performance. As always, it's advisable to refer to official financial news sources for the most accurate and timely updates.
Stay tuned for further updates on Bank Nifty and other financial insights!
Reference from:-
https://www.livemint.com/market/stock-market-news/bank-nifty-stock-price-live-updates-check-all-the-latest-updates-and-share-price-for-bank-nifty-stock-on-07-oct-2024-11728270000771.html