The domestic equity market ended on a perfect note today, with both headline indices scaling fresh record peaks. The S&P BSE Sensex surged 184.02 points or +0.55 per cent to close at 33,940.30 today, while the broader Nifty50 index of the National Stock Exchange added 52.70 points or +0.50 per cent to end at 10,493.00 today, with 29 constituents ending in the green and 20 in the red.
The benchmark indices settled at record closing highs with the Nifty50 touching its crucial 10,500 in last leg of trade, but ended below that mark, ahead of the Christmas long-weekend. Broader markets echoed the festive sentiment with both Midcap and Smallcap indices touching fresh record high levels during the day.
The Nifty50 index managed to hold above 10,450 and hit a new lifetime high of 10,501 today. In the process, it formed a bullish candle on the daily chart, as it gained momentum after the consolidation of last two sessions. The strong bullish candle of the week erased the entire losses of last five weeks in one single sweep, which should be read as a very positive technical development, say experts. Now, it has to hold above the 10,450 level to extend the move towards 10,550 and then 10,600 levels, while on the downside, supports are seen at 10,400 level.