The 30-share BSE Benchmark Sensex, on Thursday (April 24), ended on a strong note after opening the day with a positive gap of 100 points tracing strong cues from other Asian counterparts.

The Sensex traded in a very narrow range on yesterday. It also touched an intraday low of 16,668.60. The overall market breadth was negative and volumes seen were not also very encouraging.

The BSE Sensex closed up 23.04 points at 16,721.08; whereas the broad-based NSE Nifty ended the day at 4,996.70, down 22.95 points.

BSE Midcap Index closed 0.88% lower and BSE Smallcap Index ended 0.67% up on Thursday.

India’s benchmark index, Sensex closed down 85.83 points at 16,698.04, whereas Nifty ended at 5022.80 down by 26.50 points on Wednesday (April 23).

The markets yesterday were range bound and choppy with the majority of index stocks ended on a flat note. The banking and metal stocks led the declines, whereas Textile and Sugar stocks gained.
The overall market breadth was mixed as it experienced 1,426 advancements as against 1,297 declinations.

Stock market analyst, Vishwas Agarwal is of the view that BSE above 16,786 level is good for trading with a downside target of 16,555- 16,350 and an upside of 17,150- 17,350.

Technical analyst, Ashwani Gujral advised investors to purchase Balrampur Chini stock on declines in order to achieve a target of Rs 128.

The investors can achieve the target within a period of 3-4 weeks, and the strict stop loss for the suggested stock should be Rs 94.

The stock has great potential. It can still exhibit superb surge. The long term traders are recommended to hold the stock.