Sensex gyrates 1,175 pts intraday, ends 535 pts higher; Nifty tops 22,200
Stock market highlights on Thursday, February 22, 2024: The Nifty50 index hit a record high of 22,252.5 in late deals
 "BSE, NSE, Sensex, Nifty, stock markets")
Closing Bell on February 22, 2024: The weekly F&O expiry likely triggered a fag-end recovery on the bourses on Thursday, helping benchmarks recoup from steep losses intraday. Stock-wise, TCS, ICICI Bank, ITC, Reliance Industries, Infosys, and L&T led the recovery.
The S&P BSE Sensex swung 1,175 points during the day before settling at 73,158, up 535 points or 0.74 per cent.
The Nifty50 index, too, managed to end above 22,000 after hitting a low of 21,875. The index shut shop at 22,217, up 162 points or 0.74 per cent. It hit a record high of 22,252.5 in late deals.
In the broader markets, the BSE MidCap and SmallCap indices closed up to 0.9 per cent higher.
Sectorally, the Nifty IT index advanced nearly 2per cent, followed by the Nifty Auto index (1.6 per cent). On the downside, the Nifty Bank index fell 0.2 per cent.
3:47 PM
Tech View :: 'Nifty Bank may eye 48,000'
The Bank Nifty bulls made a strong comeback, leading to a sharp recovery in the index from lower levels. The formation of a long-legged doji candle on the daily chart is considered bullish, suggesting potential further upside towards the 48,000 mark. The index finds support at 46,500, where aggressive put writing is evident. The bullish sentiment remains intact unless there is a decisive break below this support level.
Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
3:46 PM
Tech View :: 'Nifty's momentum indicator has experienced a bullish crossover'
The market remained highly volatile due to the weekly expiry of Nifty options. On the lower end, it found support at the 21-EMA before rallying towards higher levels. The momentum indicator has experienced a bullish crossover. Overall sentiment has turned positive once again, with the potential to reach towards 22,400/22,600 in the short term. On the lower end, support is placed at 22,100.
Views by: Rupak De, Senior Technical Analyst, LKP Securities.
Views by: Rupak De, Senior Technical Analyst, LKP Securities.
3:45 PM
Comment :: 'Markets staged recovery on improved economic data'
The domestic market staged a recovery from the day’s low, buoyed by positive PMI data from the Eurozone and an impressive earnings report from US tech stocks. The broader market showed resilience as India's economic activity continued to expand in February, with both service and manufacturing PMI improving. Consequently, it resulted in outperformance in discretionary stocks and capital goods
Views by: Vinod Nair, Head of Research, Geojit Financial Services
Views by: Vinod Nair, Head of Research, Geojit Financial Services
3:43 PM
Currency check :: Rupee strengthens 13 paise vs US dollar
3:41 PM
Broader markets :: MiddCap index outperforms, gains 0.9%
3:40 PM
NIFTY HEATMAP :: IT, Auto stocks power recovery; HCLTm BAU rally 3% each
3:38 PM
CLOSING BELL :: Nifty hits record high of 22,252 intraday, ends above 22,200
3:36 PM
CLOSING BELL :: Sensex swings over 1,100 pts intraday, ends 535 pts up
3:24 PM
Market Check :: Stocks leading the market recovery
3:12 PM
Global check:: US, UK stock futures advance up to 1%
Topics : Sensex MARKET LIVE MARKET WRAP Markets Markets Sensex Nifty MARKETS TODAY Market news stock markets S&P BSE Sensex Nifty50 US Federal Reserve NSE BSE
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First Published: Feb 22 2024 | 7:32 AM IST