D-Street party continues; Sensex ends 610 pts higher at 52,154; banks rally

The Nifty Bank index stole the show and hit a new peak of 37,309 levels, up 1,200 points in the intra-day trade. The index closed 1,197 points, or 3.3 per cent, higher at 37,306 levels

4:46 PM

MARKET CLOSING COMMENT :: Ajit Mishra, VP - Research, Religare Broking

Markets started the week on a robust note and made a new record high, largely led by firm global cues and encouraging domestic macro-economic data. The benchmark opened gap up and hovered in a range for most of the session however renewed buying in the last hour helped the index to close around the day’s high. Consequently, the Nifty index closed at 15,315 levels, up by 1%. A mixed trend continued on the sectoral front wherein banks and realty were the top gainers that supported the rally while FMCG, IT and consumer durables ended in the red.

 

Markets have resumed the trend after a week-long consolidation phase and we are now eyeing the 15,500 in Nifty. With no major events, participants should keep a close watch on global markets for cues. Also, maintain focus on the selection of stocks and avoid a contrarian approach.

4:45 PM

MARKET CLOSING COMMENT :: Joseph Thomas, Head of Research at Emkay Wealth Management

The markets closed the day on a high note with the Sensex crossing the 52000 mark, with both Sensex and Nifty closing with a gain of more than 1%. What moved the markets was the Bank Nifty, which climbed by 3.65 % to 37425, a significant surge from the 31000-32000 levels where it was basing itself for a couple of weeks. Midcaps, small caps, realty and healthcare too participated in the rise today. Markets elsewhere , in the East  as well as early Europe, has been well supported by the fruition of large scale vaccination as also  expectations of larger economic stimulus in the US

4:33 PM

MARKET CLOSING COMMENT :: Shrikant Chouhan, Executive VP, Equity Technical Research at Kotak Securities

The market has made a strong start to the week on the back of strong and positive domestic flows. The increase in the number of IIP and the easing of CPI inflation led to a recovery in financials. Bank Nifty rose by 1300 points, Finance Nifty rose by 900 points, Nifty 50 rose to 15340 levels and Sensex gained by more than 500 points throughout the day. It has proven to be the smartest rally after 4 days of aggregation. Based on the daily chart, Nifty / Sensex are moving towards 15500/52500 levels with minor resistance at 15360/52250 level and on the downside, 15270/51850 and 15100/51200 would be the big supports. Our strategy is to reduce weak long positions and we need to make partial profits in positions where there are abnormal gains. Along with financial, the focus should also be on auto stocks

4:32 PM

TECH VIEW :: Nagaraj Shetti, Technical Research Analyst, HDFC Securities

After showing a range bound movement in the last four sessions, Nifty witnessed sharp upmove on Monday and closed the day higher by 151 points. After opening on an upside gap of around 107 points, Nifty shifted into a gradual upmove amidst a range movement for the whole session. Minor intraday dips in between was used as buy on dips opportunity. Today's opening upside gap remains unfilled.

 

A small positive candle was formed with gap up opening and with minor lower shadow. Technically, this pattern could indicate an upside breakout of the upper range of around 15255 levels. This pattern has negated a minor bearish implication created after a doji or high wave type candle pattern of Friday. This is positive indication.

Conclusion: The short term trend of Nifty continues to be positive. Today's upside breakout attempt of the range of 15255 could open more upside in the short term. The next upside levels to be watched around 15500 in the next few sessions. Immediate support is placed at 15200.

4:19 PM

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Research, HDFC Securities

Indian benchmark equity indices began the new trading week on a strong note on Feb 15 – up for the third consecutive day, driven by outperformance from private financials as well as PSU Banks. The Nifty opened gap up, later remained in a range and closed near the day’s high. At close, the NSE Nifty 50 index also gained 1% or 151.4 points to close at 15,314, another record high.

 

Volumes on the NSE were lower than the recent averages with non financials seeing lower participation. Among sectors, Bank, Realty, Auto were the main gainers while Metal, IT, Pharma were the main losers.

Nifty keeps rising with upgaps reflecting pent up buying partly driven by encouraging Q3 numbers. However selective buying in sectors means that the overall volumes are measured and advance decline ratio also is either flat or negative (like on Feb 15). The next resistance for the Nifty is 15470 while 15243 could provide support.

4:00 PM

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

Optimistic global sentiment & improving corporate earnings are leading an uptrend in the market dictated by banking and realty stocks. Mild consolidation is noticed in Pharma & IT, but Mid-caps continue to beat the broad market. WPI inflation soared to 2.03% in January compared to 1.22% in December which is positive for the manufacturing sector showing upside in demand. Food inflation dipped cooling CPI to 4.06% in January from 4.59% in December 2020, moderation in inflation is in-line with the RBI views, positive for the domestic economy

3:59 PM

MARKET CLOSING COMMENT :: S Ranganathan, Head of Research at LKP Securities

Bulls powered Indices to new highs as FPI flows till date in February far exceeded January flows. Buoyed by Q3 earnings and CPI inflation, the day witnessed a ferocious rally in Financials backed by positive global cues and return of the elusive  capex cycle

3:58 PM

TECH VIEW :: Rohit Singre, senior technical analyst at LKP Securities

Index started a day with good gap and managed to hold the gains throughout the session and closed the day at 15314 with gains of one percent. Both the indices nifty & nifty bank has witnessed a fresh breakout in today’s session hints overall structure is still buying on the dip and we may see more upside in the near term if managed to hold above 14250 in nifty & 37000 in the nifty bank which is immediate & strong support on the downside

 

3:57 PM

TECH VIEW :: Ashis Biswas, Head of Technical Research, CapitalVia Global Research

Market witnessed a positive trend today after a few days of the lackluster movement. The expected levels of the market are likely to be in the range of 15250 and 15470, and it’s going to be crucial for the short-term market scenario to sustain above the 15250 Nifty50 index level. The momentum indicators like RSI, MACD to support the upside move and indicating potential upside from the current market level.

3:56 PM

SECTOR OF THE DAY :: Nifty Bank settles at record closing peak

3:54 PM

Stocks that lifted Sensex today

3:51 PM

S&P BSE MidCap index 1.4% higher

3:48 PM

Sectoral trends on NSE at Close

3:46 PM

Sensex Heatmap at Close

3:34 PM

CLOSING BELL

The headline S&P BSE Sensex closed above the 52,000-mark for the first time on gains of 610 points, or 1.18 per cent, at 52,154 levels. 

 

NSE's Nifty50, on the other hand, hit a record high of 15,327 levels in the intra-day trade before ending at 15,315-mark, up 151 points or 1 per cent.