File.
| Photo Credit: PTI
Stock markets closed increased for the fifth consecutive day on February 19 with the benchmark Sensex rising 281 points and Nifty scaling its recent lifetime excessive pushed by beneficial properties in monetary and FMCG shares.
The 30-share BSE Sensex rose by 281.52 points or 0.39% to shut at 72,708.16. As many as 17 Sensex shares superior whereas 13 closed within the purple. After a agency begin, the index hit a excessive of 72,881.93 in day commerce.
The broader Nifty closed at its all-time excessive of twenty-two,122.25 points, up by 81.55 points or 0.37% from the final shut.
The 50-issue barometer additionally scaled its intra-day report excessive of twenty-two,186.65 helped by beneficial properties in pharma, banking and oil shares. As many as 27 Nifty shares posted beneficial properties whereas 23 declined.
“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,” mentioned Rupak De, Senior Technical Analyst, LKP Securities.
In the broader market, the BSE Midcap rose by 0.29% whereas BSE SmallCap gained 0.77%, beating larger friends. The BSE largecap was up 0.35%.
Among sectoral indices, BSE Telecom rose by 1.52%, BSE Utilities by 1.29%, BSE Consumer Durables by 1.76%, BSE Services by 1.22%, and FMCG by 0.84%.
Among losers, BSE Metal dropped 0.87%, Realty by 0.63%, Capital Goods by 0.62%, and IT by 0.26%.
Key inventory indices closed within the inexperienced for the fifth straight day on Monday, gaining round 2.3%.
Overall market capitalisation of BSE listed shares surged to ₹391.69 lakh crore or USD 4.72 trillion, making traders richer by ₹2.20 lakh crore.
Among Sensex shares, Bajaj Finserve, ICICI Bank, Bharti Airtel, Bajaj Finance, Sun Pharma, Maruti Suzuki, ITC, and Nestle had been the lead gainers. On the opposite hand, L&T Wipro, IndusInd Bank and TCS and Tata Motors had been the lead losers.
Vinod Nair, Head of Research, Geojit Financial Services, mentioned, “Despite an unattractive risk reward, the broader market continued its outperformance in expectation of improvements in private capex and optimism about political stability.
“Benign enter prices and expectations of a pickup in rural demand will support company earnings development.” Key Asian markets had been combined. Hong Kong’s Hang Seng fell 0.8%, Tokyo’s Nikkei 225 misplaced 0.04% whereas the Shanghai Composite index gained 1.4%.
U.S. market are closed on Monday on account of President’s Holiday. On Friday, US shares closed within the purple, with all three main indices logging weekly losses, as traders assessed inflation readings and firm earnings.
On Friday, Foreign Portfolio Investors (FPIs) had been internet patrons as they bought securities price ₹253.28 crore, in line with trade knowledge.
