Business Standard

Sensex ends wild session 349 pts up, Nifty at record closing high of 22,197

Stock market highlights on February 20, 2024: The Nifty50 index hit record high of 22,216 in intraday trade

Image SI Reporter New Delhi
NSE

Closing Bell on February 20, 2024: Equity markets were extremely volatile on Tuesday, laced with stock-specific action. The S&P BSE Sensex, however, ended at 73,057, up 349 points or 0.48 per cent, while the Nifty50 shut shop at record closing high of 22,197, up 75 points or 0.39 per cent.

The index hit record high of 22,216 in intraday trade.

Power Grid, HDFC Bank, Axis Bank, NTPC, Kotak Bank, IndussInd Bank, and Nestle India were the top gainers on the Sensex index, rising between 0.8 per cent to 4 per cent.

On the downside, TCS, Infosys, HCL Tech, Bajaj Finserv, Tata Steel, Wipro, ITC, and Tata Motors fell the most, down up to 1.5 per cent.

In the broader markets, the BSE MidCap index stayed in the red through the day, settling 0.17 per cent lower. The BSE SmallCap index, meanwhile, turned lower in the fag end and ended 0.18 per cent down. 

Among sectors, the Nifty Media index jumped nearly 2 per cent, while the Nifty Bank, and Realty indices rose over 1 per cent each. The Nifty IT index, on the contrary, fell over 1 per cent. 



  
3:48 PM

Comment :: 'Release of the US Fed minutes this week hold significance'

Amidst market volatility, the domestic market is once again poised to approach record highs. The latest upward trajectory is bolstered by gains in the banking sector, with private banks witnessing a rebound from a recent sharp correction.

However, the decline in mid & small caps suggests that investors are continuing to exercise caution due to higher valuations.

The forthcoming release of the US Fed minutes this week holds significance, particularly in light of recent sticky inflation data, which raises uncertainty regarding the timing of the Federal Reserve's initiation of its easing cycle.

Views by:  Vinod Nair, Head of Research, Geojit Financial Services.
 
3:47 PM

Tech View :: 'Short-term target of Nifty Bank seen at 48,000'

The BankNifty bulls maintained their dominance, closing above the 47,000 level, signaling a strong buy mode. Immediate support is now established at 46,700, marked by fresh put writing. The index is anticipated to reach the short-term target of 48,000, with any dip viewed as a buying opportunity.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
3:45 PM

Tech View :: 'Nifty may reach 22,600 if it holds 22,200'

The Nifty continued its upward momentum following a consolidation breakout on the daily chart. The trend remains robust as it has sustained itself both above the psychological level of 22,000 and the 21EMA on the daily timeframe.

On the higher end, it may move towards 22,400/22,600 once the index decisively surpasses the 22,200 mark. Support on the lower end is identified at 22,000.

Views by: Rupak De, Senior Technical Analyst, LKP Securities
3:42 PM

Currency check :: Rupee ends 5 paise higher vs US dollar

3:41 PM

Broader markets :: Mid, SmallCap indices fell nearly 0.2% each

3:39 PM

NIFTY HEATMAP :: Power Grid, pvt banks power rally

3:37 PM

CLOSING BELL :: Nifty ends at record closing peak of near 22,200

3:36 PM

CLOSING BELL :: Sensex zooms 349 pts after a wild session

3:26 PM

ALERT :: Sensex rises 400 pts

3:14 PM

ALERT :: Nifty hits record high, tops 22,200 for the first time

3:11 PM

Ashok Leyland lays foundation stone for electric bus plant in Uttar Pradesh

The primary focus will be on the production of electric buses while also having the capability to produce other vehicles powered by existing and other emerging alternative fuels. This facility will be Ashok Leyland's seventh vehicle plant in the country. Once operational, the plant will initially have the capacity to produce 2,500 vehicles per year. Ashok Leyland plans to expand this capacity to 5,000 vehicles annually over the next decade, anticipating the growing demand for electric and other types of vehicles in the coming years. READ MORE

3:03 PM

Zee Entertainment soars 12% on reports of fresh merger discussion with Sony

ZEEL and Sony Group are in discussions that may save the $10 billion merger that the Japanese conglomerate had called off on January 22. READ MORE

Sony-Zee
2:51 PM

Global check:: US, UK stock futures exhibit mixed trend

chart
Source: Investing.com

2:40 PM

Onion export ban to continue till Mar 31 to keep prices under check: Govt

The ban on export of onion will continue till its previously announced deadline of March 31 as the government is keen to keep prices under check and ensure domestic availability, a top official said on Tuesday. READ MORE

Onion
2:28 PM

ALERT:: Vipul Organics gets environmental nod for Ambernath plant; stock zooms 16%

Vipul Organics today in an exchange filing said the company received Environmental Clearance for Proposed Expansion of Synthetic Organic Pigments and Dyestuffs, Pigment Dispersion, Naphthols, Fast Salts and Vat Dyes Manufacturing at their existing Ambernath facility.

chart

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 20 2024 | 7:43 AM IST

Explore News