Nifty ends Feb F&O series below 22K; broader indices shine; PSB index up 2%

Stock market highlights on Thursday, February 29: Among sectors, the Nifty Media index closed with losses of 0.76 per cent. On the upside, the Nifty PSU Bank index eked out gains of 1.8 per cent

Closing Bell on Thursday, February 29: Equity markets recorded wild swings in trade on Thursday as investors adjusted their positions ahead of the February F&O expiry. The S&P BSE Sensex oscillated 631 points before closing at 72,500, up 195 points or 0.27 per cent.

The Nifty50, on the other hand, ended the Feb derivatives series at 21,983, up 32 points or 0.14 per cent. 

In the broader market, the BSE MidCap and SmallCap indices outperformed the benchmarks as they closed with gains of 0.84 per cent and 0.50 per cent, respectively. 

Among sectors, the Nifty Media index closed with losses of 0.76 per cent. On the upside, the Nifty PSU Bank index eked out gains of 1.8 per cent, followed by the Nifty Bank index (0.6 per cent). 

3:52 PM

Tech View :: 'Prevailing sentiment appears negative for Nifty'

The Nifty experienced volatility on the day of monthly expiry before ultimately closing flat. On the daily chart, the index concluded just above the 21-day Exponential Moving Average (21EMA). However, the prevailing sentiment appears somewhat negative from the current level. At the lower end, crucial support is positioned at 21950; as long as the index maintains a position above 21950, there is a possibility of witnessing a recovery. Nevertheless, a decline below 21950 could potentially lead the index towards 21800.

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

3:48 PM

Comment :: What all happened in the markets today?

Domestic benchmark traded near a flat-line trend throughout the session, but some buoyancy emerged by the end of the day. Investors adopted a cautious wait & watch approach on the verge of a heavy economic data week. India Q3 GDP has a moderate outlook on a QoQ basis. Fed’s preferred gauge; the US personal consumption expenditure (PCE) price index is due to provide a clue on the future interest rate cut path and China’s PMI index is scheduled to be released Friday.

Views by: Vinod Nair, Head of Research, Geojit Financial Services

3:42 PM

Comment :: 'Avoid aggressive trades in the current scenario'

We are seeing a tussle at 21,900 in Nifty, which coincides with a short term moving average i.e. 20 DEMA and expect the index to face a hurdle around the 22,100-22,250 zone, in case of a recovery.

At the same time, excessive volatility and failed breakouts across sectors are further adding to the traders’ worries. We feel it is prudent to avoid aggressive trades in the current scenario and utilize rebound to reduce longs. 

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

3:41 PM

Currency check :: Rupee ends 2 paise higher vs US dollar

3:40 PM

Broader markets :: MidCap index outperforms

3:38 PM

NIFTY HEATMAP :: IT, Auto, Apollo Hospitals weigh on index

3:36 PM

CLOSING BELL :: Nifty ends below 22,000

3:35 PM

CLOSING BELL :: Sensex ends 195 pts higher after choppy session

3:26 PM

Triveni Turbine hits new high; zooms 41% in 18 days post Q4 results

At 03:03 pm; Triveni Turbine was quoting 6 per cent higher at Rs 495, as compared to 0.02 per cent decline in the S&P BSE Sensex. The average trading volumes at the counter jumped 4-fold today. A combined 8.98 million equity shares representing 2.8 per cent of total equity of the company changed hands on the NSE and BSE. READ MORE

3:12 PM

ALERT :: Cabinet approves Rs 75,021 crore outlay for PM-Surya Ghar Muft Bijli Yojana

3:06 PM

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

Source: Investing.com

2:55 PM

Max Health, Fortis, Apollo slump up to 9% as SC warns slapping CGHS rates

Medanta, Rainbow Children Medicare, Shalby, Apollo Hospitals, Fortis Healthcare and newly listed GPT Healthcare fell 2-8 per cent in intra-day trade on BSE. READ MORE

2:42 PM

ALERT: Sebi asks smallcap, Midcap MFs to limit one-off client inflows: Reuters

2:36 PM

Portfolio, new launches to help pharma company Abbott India's stock

The stock of Abbott India, the largest listed multinational pharmaceutical company, hit its highest early February and has added over 25 per cent to its returns since the start of the year. It is trading at Rs 28,145 a share after the company revised its earnings upwards when it achieved its highest operating and net profit in the December quarter. A strong portfolio and brand recognition are expected to aid the company in doing better than the Indian pharma. READ MORE

2:23 PM

ALERT:: Lemon Tree to open new hotel in Gujarat by FY25; stock trades flat

Lemon Tree in an exchange filing today said the company has signed a License Agreement for Keys Lite by Lemon Tree Hotels-Vadodara, Gujarat. The Hotel with 63 rooms, banquet hall, restaurant and a meeting room is expected to open in FY25.