Sensex ends flat after volatile trade, holds 52k; IT stks dip, metals shine
The broader markets ended higher today with the S&P BSE MidCap and SmallCap indices settling 0.2 per cent and 0.43 per cent up, respectively
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Stock market updates: A sharp downtick in private bank and IT stocks dragged the domestic indices lower on Tuesday even as PSU banks and metal stocks continued their northward march. From its fresh record high level of 52,517, hit earlier today, the S&P BSE Sensex tanked 650 points to hit a low of 51,864. The index, however, settled at 52,104 levels, down 50 points or 0.1 per cent.
The NSE's Nifty50, on the other hand, managed to hold the 15,300 level and ended at 15,313, down 1.25 points or 0.01 per cent. The index hit fresh lifetime high of 15,432 in the morning trade today.
PowerGrid, ONGC, NTPC, Kotak Mahindra Bank, Maruti Suzuki, and Reliance Industries, up between 1 per cent and 6 per cent, were the top gainers on the Sensex while Tata Steel, Hindalco, and Adani Ports were the additional gainers on the Nifty index. On the downside, Axis Bank, ICICI Bank, Infosys, Eicher Motors, SBI, HUL, and TCS nursed losses on these indices.
The broader markets ended higher today with the S&P BSE MidCap and SmallCap indices settling 0.2 per cent and 0.43 per cent up, respectively.
On the sectoral front, the Nifty IT index turned out to be the worst performer, down 1.6 per cent at close. That apart, the Nifty Bank index (down 0.8 per cent) and the Nifty Private Bank and FMCG indices (down 0.7 per cent each) were the other losers. On the contrary, the Nifty Metal index ended about 3 per cent higher today.
Global markets
Asian shares rallied on Tuesday, setting the stage for world equities to extend their bull run for a 12th consecutive session. MSCI's broadest index of Asia-Pacific shares outside Japan shot up 0.62 per cent, while Japan's Nikkei rose 1.4 per cent to a 30-year high.
In Hong Kong, the Hang Seng Index rose 1.4 per cent to hit a 32-month high, while Australia's S&P/ASX200 gained 0.7 per cent for the session.
In Europe, the pan-European STOXX 600 was up 0.2 per cent while Germany’s DAX traded flat.
(With inputs from Reuters)
3:51 PM
MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services
Market, though volatile, kept its momentum during the morning hours, however, failing to hold on to it due to a weak opening of European markets. The downfall was aggravated by private banks, IT and FMCG stocks while mid and small caps continued their outperformance. Increased interest was seen in PSU Banks as the government shortlisted four banks for privatisation. The Indian market has been absorbing the global trend these days and we expect that to continue due to the lack of any major domestic event
3:51 PM
TECH VIEW :: Ashis Biswas, Head of Technical Research, CapitalVia Global Research
Nifty 50 Index is still holding above the support level of 15250. It is critical to sustaining above the 15250 Nifty50 Index level to keep the short-term positive trend intact. It has observed volatility to expand in today’s trading session indicating profit booking and stock distribution at a higher market level. Investors should buy on a breakout of 15370 and look for an exit around 15520. Overall, the investor should maintain a stop at 15250.
3:50 PM
TECH VIEW :: Rohit Singre, senior technical analyst at LKP Securities
Index opened a day with gains but unable to hold the gains for long and witnessed a profit booking and closed a day on flattish at 15318. Though after spike in volatility index managed to hold above the important support which is at 15250, going forward also it will act as immediate support followed by 15100 odd levels holding above said levels we may see current momentum to extend further towards immediate hurdle zone of 15400-15500 zone
3:50 PM
MARKET CLOSING COMMENT :: S Ranganathan, Head of Research at LKP Securities
While the closing today may not be reflective of the day's action, the street went berserk on Metals & Public Sector Enterprises. Despite bouts of profit booking throughout the day, the resurgence of corporate earnings coupled with continued FPI flows kept the bullish undertone intact
3:49 PM
Market stats :: Market breadth remains around 1:1.5 in favour of declines
3:47 PM
Stocks that dragged the Sensex lower today
3:46 PM
Sectoral trends on NSE at Close
3:45 PM
Sensex Heatmap at Close
3:37 PM
CLOSING BELL
The S&P BSE Sensex settled at 52,104 levels, down 50 points or 0.1 per cent.
The NSE's Nifty50, on the other hand, managed to hold the 15,300 level and ended at 15,313, down 1.25 points or 0.01 per cent.
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» More on Top Losers
Top losers on BSE at this hour
| Company | PRICE(rs) | CHG(%) |
|---|---|---|
| Info Edg.(India) | 5119.80 | -7.25 |
| Dalmia BharatLtd | 1398.20 | -5.07 |
| Suzlon Energy | 5.58 | -4.94 |
| Varun Beverages | 898.90 | -4.74 |
| Indian Energy Ex | 278.90 | -4.13 |
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Topics : MARKET WRAP Markets Sensex NSE BSE SGX Nifty Nifty 50 Dalal Street Wall Street stock market Bank of India nestle nikkei Tata Motors
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First Published: Feb 16 2021 | 8:02 AM IST
