Sensex surges 455 pts, Nifty tops 21,900; IT index jumps 3%, YES Bank 12%
Stock market highlights on February 6, 2024: The Nifty Auto, Metal, and Pharma added over 1 per cent each
 "stock market, BSE")
Photo: Bloomberg
Closing Bell on February 6, 2024: Equity markets shrugged off early losses to settle up to xx per cent higher as stocks in Hong Kong and China climbed on policy stimulus hopes.
The S&P BSE Sensex leaped 455 points, or 0.63 per cent, to end at 72,186, while the Nifty50 ended at 21,929, up 158 points or 0.72 per cent.
In the broader markets, the BSE MidCap and SmallCap indices advanced 1 per cent and 1.23 per cent, respectively.
Among sectors, the Nifty IT index surged 2.88 per cent led by TCS (which hit record high roday), HCL Tech, Wipro, Mphasis, and Infosys.
That apart, indices of Auto, Metal, and Pharma added over 1 per cent each.
3:53 PM
Tech View :: 'Nifty may hit 22,000 if it holds this level...'
NIfty50
On the daily charts, we can observe that the Nifty has been broadly trading within the range in an upward sloping channel. Until the recent swing lows of 21,730 is not breached on the downside, we can expect the upmove to continue towards 22,000 – 22,130.
The daily and the hourly momentum indicator has a positive crossover which is a a buy signal. Thus, both price and momentum indicator are suggesting towards continuation of the positive momentum. However, considering the recent sharp reversals from the upper boundary (22,000) one needs to be cautious on the long side.
Key support levels are 21,730 – 21,700 while immediate hurdle zone is placed at 22,100 - 22,130.
On the daily charts, we can observe that the Nifty has been broadly trading within the range in an upward sloping channel. Until the recent swing lows of 21,730 is not breached on the downside, we can expect the upmove to continue towards 22,000 – 22,130.
The daily and the hourly momentum indicator has a positive crossover which is a a buy signal. Thus, both price and momentum indicator are suggesting towards continuation of the positive momentum. However, considering the recent sharp reversals from the upper boundary (22,000) one needs to be cautious on the long side.
Key support levels are 21,730 – 21,700 while immediate hurdle zone is placed at 22,100 - 22,130.
Bank Nifty
Bank Nifty closed in the negative however, seems to be oversold. The positive crossover on the hourly time frame chart suggests that the bank nifty is poised for a pullback after the recent correction. On the upside, we expect the Bank Nifty to retrace till 46,500 – 46,800. Crucial support is placed at 45,370.
Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
3:41 PM
Currency check :: Rupee ends flat vs US dollar
3:40 PM
Stock fo the Day :: BLS E-Services ends 175% higher over issue price
3:39 PM
Sector of the Day :: IT index advances 3%; TCS m-cap hits Rs 15 trn
3:38 PM
Broader markets outperform; Mid, SmallCap indices rally over 1% each
3:36 PM
NIFTY HEATMAP :: BPCL, HDFC Life, HCL Tech zoom up to 6%
3:35 PM
CLOSING BELL :: Nifty reclaims 21,900
3:34 PM
CLOSING BELL :: Sensex soars over 450 pts
3:29 PM
Buzzing stock :: Inox India soars 11% on heavy volume
3:22 PM
ALERT :: Petronet LNG executes long -term contract for purchase of 7.5 MMTPA LNG with QatarEnergy
>> This is pursuant to extension of an existing LNG SPA for LNG supply of around 7.5 MMTPA LNG Sale & Purchase Agreement on FOB basis, signed on 31st July 1999 for supplies till 2028.
>> Under the new agreement, LNG supplies will be made on delivered (DES) basis commencing from 2028 till 2048.
>> Similar to earlier agreement of 1999, the LNG volumes under the new SPA shall also be offtaken by GAIL (India) Limited (60%), Indian Oil Corporation Limited (30%) and Bharat Petroleum Corporation Limited (10%) after regasification primarily from Dahej Terminal of PLL on substantially back to back basis.
>> Under the new agreement, LNG supplies will be made on delivered (DES) basis commencing from 2028 till 2048.
>> Similar to earlier agreement of 1999, the LNG volumes under the new SPA shall also be offtaken by GAIL (India) Limited (60%), Indian Oil Corporation Limited (30%) and Bharat Petroleum Corporation Limited (10%) after regasification primarily from Dahej Terminal of PLL on substantially back to back basis.
Topics : Stock Market Sensex MARKET LIVE MARKET WRAP stock market trading Markets Dalal Street Markets Sensex Nifty HDFC Bank shares Jio Financial Services Bharti Airtel Paytm Q3 results
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First Published: Feb 06 2024 | 7:46 AM IST