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Markets extend rally for 7th straight session; IT, metals, power propel key benchmark indices to fresh highs

03:51 PM Oct 18, 2021 | FPJ Web Desk

The stock market indices closed on a positive note today (October 18). At close, the Sensex was up 459.64 points or 0.75 percent at 61,765.59, and the Nifty was up 138.50 points or 0.76 percent at 18,477. About 1677 shares have advanced, 1563 shares declined, and 127 shares are unchanged.

Hindalco Industries, Infosys, Tech Mahindra, JSW Steel and Tata Steel were among major gainers on the Nifty. HCL Technologies, M&M, Asian Paints, Britannia Industries and Dr Reddy’s Laboratories, were among major losers.

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Gaurav Udani, CEO & Founder, ThincRedBlu Securities, said, "The Nifty has been making new Highs since the last few trading sessions. Today (October 18) it closed at 18,475 , up by 135 points. There is divergence seen between price and volume, therefore a correction may be seen in Nifty in the next few trading sessions. However, Nifty is in a strong bullish trend and any correction can be used as an opportunity to enter long positions with strict stoploss. Nifty has support at 18,350 and 18,170 levels."

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