CLOSING BELL: Sensex Ends 320 Points Higher, Nifty Inches Close To 18.2K
On Monday, at close, BSE Sensex was trading 327.05 points up at 61,167.79 and NSE Nifty was trading 92.15 points up at 18,197.45.
New Delhi: Indian indices performed well today despite adverse scenario in the global markets. Even though Dow Jones Industrial Average, S&P500, Nasdaq Composite, Russel 2000 Index are all trading in red, Dalal Street managed to shine in green today.
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On Monday, at close, BSE Sensex was trading 327.05 points up at 61,167.79 and NSE Nifty was trading 92.15 points up at 18,197.45.
“Markets gained confidence in the afternoon trades after European indices advanced sharply in their early trades. Local traders lapped up metals, realty and banking shares, which had faced relentless selling in the last week’s sell-off. However, markets may face strong bouts of volatility as investors brace for earnings season and the upcoming Union Budget. Technically, the Nifty is consolidating between 18050 and 18250 levels. For the bulls 18250 would be the fresh breakout level to watch out for, and above the same it could move up to 18350-18400. On the flip side, below 18100, there is a strong possibility of a quick intraday correction. Below the same, the index could slip till 18050-18000”, said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
SENSEX TOP GAINERS
- Tata Steel: 5.81 per cent
- Tata Motors: 1.83 per cent
- ICICI Bank: 1.46 per cent
- Axis Bank: 1.16 per cent
- M&M: 1.14 per cent
- NTPC: 1.11 per cent
SENSEX TOP LOSERS
- Asian Paints: -1.38 per cent
- Titan Company: -1.15 per cent
- Tech Mahindra: -0.66 per cent
- Sun Pharma: -0.55 per cent
NIFTY TOP GAINERS
- Tata Steel: 2.97 per cent
- Hindalco: 2.22 per cent
- Tata Motors: 1.65 per cent
- ICICI Bank: 1.27 per cent
- ONGC: 0.95 per cent
- Coal India: 0.87 per cent
NIFTY TOP LOSERS
- IndusInd Bank: -1.08 per cent
- SBI: -1.00 per cent
- HCL Tech: -0.72 per cent
- ITC: -0.67 per cent
- Sun Pharma: -0.36 per cent
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Dalal Street: At 11:35, BSE Sensex was trading 227.14 points up at 61,067.88 and NSE Nifty was up 70.50 points at 18,175.80
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“Last Friday’s weakness is likely to extend in today’s early trade as bearishness in the SGX Nifty could weigh on sentiment. Besides, technical conditions suggest overbought conditions as stocks valuations remain expensive by historical standards, spelling downside risks to corporate earnings. While select bouts of buying will continue, the perennial concerns regarding rising interest rates going ahead, volatile oil prices, and increasing Covid cases in China could trigger sell-offs. However, for time being investors can heave a sigh of relief as GST revenues grew 15% to Rs 1.49 lakh crore in December 2022. December was the 10th consecutive month when GST revenues were more than Rs 1.40 lakh crore”, said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd
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