Nifty hits fresh high, Sensex ends 282 pts higher; consumer durables rally
Stock market highlights on February 19, 2024: Nifty index leaps to a new lifetime high of 22,187 after crossing previous high of February 2, 2024
 "Nifty 50")
Stock market highlights: Equity markets closed near record-highs after the NSE Nifty index made a new peak of 22,187 during Monday's trade. The index closed 82 points higher at 22,122, while the BSE Sensex climbed 282 points to end at 72,708.
Grasim, Bajaj twins, Bajaj Auto, Bharti Airtel, ICICI Bank, ITC, Cipla, Sun Pharma, Titan, Nestle, Maruti and RIL closed 1-3 per cent higher, leading gains among largecaps.
Coal India was the top largecap drag, which tanked 4 per cent, followed by Wipro, L&T, L&TMindtree, SBI Life and TCS, down 0.6-1.4 per cent.
The BSE SmallCap index outperformed with a gain of 0.8 per cent against a 0.3 per cent rise in its BSE midcap peer and 0.4 per cent in benchmark Sensex.
Nifty Consumer Durables posted highest sectoral gains, closing 2 per cent higher led by Rajesh Exports and Dixon Tech, which soared 13 per cent and 7 per cent, respectively.
Nifty Pharma and FMCG rose nearly 1 per cent each. PSU Bank, Realty and IT pockets were the only losers.
4:00 PM
VIEW:: Nifty seems headed towards 22,500-22,600
Nifty has surpassed the swing high on the hourly chart, signaling an increase in optimism. Additionally, the consolidation observed in recent days has concluded with an upside breakout.
The momentum indicator RSI is also suggesting a positive shift in momentum. The overall sentiment appears to position Nifty for a potential upward movement towards 22,500-22,600 in the short term. The immediate crucial support is situated at 22,000.
- Rupak De, Senior Technical Analyst at LKP Securities
3:55 PM
COMMENT:: Market out-perfomance continued on hopes of improved capex, political stability
Despite an unattractive risk reward, the broader market continued its outperformance in expectation of improvements in private capex and optimism about political stability.
Benign input costs and expectations of a pickup in rural demand will aid corporate earnings growth.
On the global front, the US FED will unveil its latest minutes this week, which may hint at the direction of rates; however, the higher US 10 yr yield and domestic outflows of FIIs are pointing cautiousness of foreign investors.
- Vinod Nair, Head of Research at Geojit Financial Services
3:49 PM
Market breadth was fairy positive; 2,428 stocks advanced v/s 1,536 declining shares on the BSE
3:46 PM
Sectoral ALERT:: Nifty Consumer Durables index jumps 2%
3:44 PM
BSE Smallcap Heatmap:: MRPL soars over 19%; BF Utilities, Hi-Tech Gears, Novartis rally over 15%
3:42 PM
BSE Midcap Heatmap:: Rajesh Exports zooms 13%; CRISIL, PolicyBazaar other top movers
3:40 PM
Broader Market Check:: MidCap, SmallCap indices gain in tandem with Nifty50; VIX jumps 5%
3:38 PM
Nifty50 Movers & Shakers:: Grasim, Bajaj Finserv, Bajaj Auto shine; Coal India falls 4%
3:36 PM
Sensex 30 Heatmap:: 18 Gainers v/s 12 Losers
3:34 PM
CLOSING BELL:: NSE Nifty50 settles 82 pts higher at 22,122
Topics : Sensex Stock Market stock market trading MARKET LIVE Markets Sensex Nifty Dalal Street Indian stock market BSE NSE Nifty HDFC Bank Paytm Bajaj Auto NTPC
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First Published: Feb 19 2024 | 8:03 AM IST