Sensex leaps 1,245 pts to end near 73,750, Nifty tops 22,300 on solid Q3

Stock market highlights on March 1, 2024: The S&P BSE Sensex hit a record high of 73,819, while the Nifty50 touched 22,353 intraday

3:45 PM

Tech View :: Strong signs that Bank Nifty may top all-time high of 48,500

The Bank Nifty bulls maintained their dominance, leading the index to overcome significant hurdles with notable volumes. The current support for the index is established in the range of 47,000-46,900, and any pullback towards this support zone is seen as a favorable buying opportunity. There is a strong indication that the index is poised to surpass its all-time high levels, situated at the 48,500 mark, in the near term.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.

3:43 PM

Tech View :: Nifty's next stop seen at 22,600

Nifty remained above 22,000 in the early hours, propelling the market upward throughout the day. The index's consolidation breakout, coupled with sustained movement above the moving average, fueled a robust rally.

Notably, the Relative Strength Index (RSI) confirmed a bullish crossover, indicating positive momentum in the market. Sentiment is optimistic for potential upward movements, with expectations of buying into dips.

On the upper scale, resistance is apparent at 22,400/22,600, while support is placed at 22,200.

Views by: Rupak De, Senior Technical Analyst, LKP Securities

3:42 PM

Currency check :: Rupee ends 1 paise up

3:40 PM

Broader markets :: Mid, SmallCap indices underperform, end with less than 1% gains

3:40 PM

Sectoral trends :: Metal index leaps over 3.5%, Banking indices gain over 2% each

3:38 PM

NIFTY HEATMAP :: Metals, Financials, RIL power rally; IT stocks weigh

3:37 PM

CLOSING BELL :: Nifty ends atop 22,300

3:36 PM

CLOSING BELL :: Sensex ends at record closing high of 73,745

3:28 PM

Fri-yay! RIL, ICICI Bank, Tata Motors, Grasim, Adani Ports hit new highs

Food delivery services firm Zomato, Ambuja Cements, Cipla, Tata Motors DVR, United Spirits, Bosch, SBI Life Insurance, Tata Consumer Products, Jindal Steel and Power, and Torrent Pharmaceuticals, meanwhile, were among notable stocks from the S&P BSE 200 index that, too, hit their respective record highs. That apart, Adani Enterprises, Indus Tower, and Tata Steel from the index touched 52-week highs. READ MORE

3:14 PM

Tata Motors reports 8% wholesales increase in February at 86,406 units

Sales of passenger vehicles, including electric vehicles, in the domestic market, were at 51,321 units as compared to 43,140 units in the year-ago month, up 19 per cent, it added. READ MORE

3:00 PM

Global check:: US, UK stock futures trade on a mixed note

Source: Investing.com

2:47 PM

Max, Fortis, Apollo: Why are hospital stocks bleeding in a firm market?

Stocks of hospital/healthcare companies have taken a beating in the last two trading sessions. Max Healthcare, one of the largest hospital chains of India, has tanked 16 per cent in just two days till Friday’s intraday deals. Whereas the biggest hospital chain, Apollo Hospitals had slipped 4.7 per cent during this period. READ MORE

 

2:36 PM

Nifty tops 22,300: Are markets skating on thin ice? What analysts say

Even as the Nifty seems on course to register decade high fiscal gains, the rally seems to have lost momentum in the recent months, with net gains well below the overall average in FY24 so far. READ MORE

2:24 PM

Matrimony, Info Edge seesaw as Google warns removing them from playstore

As per the media report, Google has warned of removing apps of ten companies in India, including of Matrimony.com and Info Edge, for failing to pay a service fee for the use of its playstore. READ MORE

2:12 PM

Stock of this iron & steel products company has zoomed over 100% in 2 mths

Shares of Kalyani Steels (KSL) moved higher by 20 per cent to its new high of Rs 1,077.65 on the BSE in Friday's intraday trade on the back of heavy volumes on healthy business outlook. READ MORE