Sensex sinks 434 pts in fag-end, Nifty holds 22,050; ZEE tanks 14%

Stock market highlights on February 21, 2024: In the broader markets, the BSE MidCap index fell 1.27 per cent, while the BSE SmallCap index declined 0.84 per cent

3:51 PM

Tech View :: Key levels to watch on Nifty Bank

Bank Nifty fell less compared to Nifty which was down ~75 points. The Bank Nifty faced resistance from the gap area formed on the 17th Jan in the range 47,200 – 48,000. We expect it to retrace the rise it has witnessed from 44,630 – 47,364. Crucial Fibonacci retracement levels are placed at 46,720 – 463,20.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

3:48 PM

Tech View :: 'Nifty may see pause in on-going rally'

The Nifty has formed a bearish engulfing pattern on the daily chart, indicating a potential pause in the ongoing rally.

The momentum indicator RSI is showing a bearish crossover, signaling weakness in the near term.

Immediate support is positioned at 22,000; a decisive drop below this level could lead the index towards 21,700. On the upside, resistance is identified at 22,160.

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

3:44 PM

Comment :: 'Premium valuation capping rally at higher levels'

The Indian market is facing stiff resistance at higher levels; the valuation of a broader index is at a significant premium, leading to an unfavourable risk reward, which influences investors to book profits.

Global markets treaded cautiously awaiting the US FED minutes, while Chinese markets were buoyed by policy interventions. Concerns lingered since investors were heavily betting on a US FED rate cut, which is put at risk by January's higher-than-expected inflation.

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

 

3:42 PM

Currency check :: Rupee settles flat vs US dollar

3:39 PM

Broader markets :: MidCap index declines over 1%, SmallCap 0.8%

3:38 PM

NIFTY HEATMAP :: IT, Energy stocks weigh on benchmarks

3:36 PM

CLOSING BELL :: Nifty holds 22,050

3:35 PM

CLOSING BELL :: Sensex drops over 400 pts

3:21 PM

ALERT :: Benchmarks stage mild recovery

3:04 PM

Global check:: US stock futures marginally down; UK mixed

Source: Investing.com

2:55 PM

ALERT:: Ambuja Cements to set-up grinding unit in Jharkhand; stock marginally down

Ambuja Cements in an exchange filing today said the Adani Group firm proposed to establish a state-of-the-art cement grinding unit with an investment of Rs 1,000 crore in Motia Village of Godda district in Jharkhand with a capacity of 4.0 MTPA.

2:45 PM

Sector ALERT:: BSE Power index down 1.5%; NTPC, Power Grid weigh

2:37 PM

China buys Russia's Sokol crude as Indians turn away amid concerns

So far this month, the mostly private processors took an average of 168,000 barrels a day of Sokol, three times more than January's pace and well ahead of the 53,000 barrels in 2023. READ MORE

2:27 PM

Market check:: Sensex sinks over 400 pts

2:16 PM

Medplus slips 2% after board defers expansion plan of diagnostics division

Shares of Medplus Health Services dipped 4 per cent in intra-day deals after the company's board decided against its approved fund-raising plan. From an intra-day high of Rs 722, Medplus slipped into red and touched a low of Rs 693. At 01:55 PM. the stock quoted at Rs 696, down 2.2 per cent on volumes of around 13,000 shares on the BSE. Read