Sensex ends 376 pts up, Nifty above 22K; Auto stocks rally, SpiceJet up 11%
Stock market highlights on February 16, 2024: Sensex, Nifty gain for fourth day; Paytm snapped its three-day decline to close at the 5 per cent upper circuit
 "BSE, stock market, sensex")
Stock market highlights: Equity benchmark indices closed higher for a fourth straight session on Friday amid strength in other global markets. The BSE Sensex rose 376 points to close at 72,427 and the NSE Nifty gained 130 points to end at 22,041.
The largecaps that aided the upmove included Wipro, M&M and SBI Life, each of which closed 4 per cent higher. L&T, Maruti, Infosys, Tata Motors were other winners, while Adani Ports rose 3 per cent and ended among the top Nifty gainers.
On the flip side, Power Grid, SBI, Reliance, NTPC, Britannia and Axis Bank were among the frontline losers.
The BSE MidCap and SmallCap indices closed with relatively better gains of up to 0.8 per cent against benchmark gain of 0.5 per cent.
Paytm snapped its three-day decline to close at the 5 per cent upper circuit after Business Standard reported that RBI curbs on Paytm Payments Bank may have limited impact as 90% of the app's UPI accounts are linked with other banks. READ
SpiceJet soared 11 per cent after promoter Ajay Singh with Busy Bee Airways Private Limited, submitted a bid to acquire the bankrupt airline GoFirst.
Nifty Auto led sectoral gains, up over 2 per cent after hitting a record high earlier in the day. IT, pharma and realty pockets rose over 1 per cent each. Oil & Gas and PSBs ended with slim losses.
Nifty Auto led sectoral gains, up over 2 per cent after hitting a record high earlier in the day. IT, pharma and realty pockets rose over 1 per cent each. Oil & Gas and PSBs ended with slim losses.
3:58 PM
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VIEW:: Nifty can potentially rally to 22,600
"A surge in buying interest for large-cap stocks propelled the Nifty back above the recent consolidation level, leading to highest-ever closing on the weekly timeframe. The Nifty has consistently closed above the 21EMA for the last few days, indicating a positive trend. The momentum indicator RSI has experienced a bullish crossover following a base formation. In the short term, the index might move towards 22,200; furthermore, a move above 22,200 could potentially take the Nifty towards 22,600. Support on the lower end is placed at 22,750."
- Rupak De, Senior Technical Analyst at LKP Securities
3:57 PM
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VIEW:: More upside seen for Bank Nifty above 46,700 hurdle
"The bulls maintained their dominance, leading to positive momentum throughout the day. Despite facing minor rejections at the immediate hurdle of 46,700, the overall undertone remains bullish. Any dips are seen as buying opportunities, especially with strong support identified in the 46,000-45,800 zone. The index, once it surpasses the hurdle of 46,700 on a closing basis, is anticipated to open up further room for an upward move towards the 48,000 mark."
- Kunal Shah, Senior Technical Analyst at LKP Securities
3:53 PM
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Market breadth was positive; 327 stocks hit new 52-week highs, while 15 52-week lows
3:50 PM
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Sectoral ALERT:: Nifty Auto index surges over 2%; M&M leads
3:49 PM
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BSE Smallcap Heatmap:: 8 stocks soar over 10%; another 2 hit 10% upper limit
3:47 PM
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BSE Midcap Heatmap:: NIACL zooms 15%; IPCA Labs, Glenmark surge 8%
3:44 PM
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Broader Market Check:: MidCap, SmallCap indices gain in tandem with benchmark Nifty50
3:42 PM
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Nifty50 Movers & Shakers:: Wipro, SBI Life, M&M jump over 4%; Power Grid dips 3%
3:36 PM
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Sensex 30 Heatmap:: 22 Gainers v/s 8 Losers
3:35 PM
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CLOSING BELL:: NSE Nifty50 settled 130 pts up at 22,041
3:33 PM
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CLOSING BELL:: S&P BSE Sensex ends 376 pts higher at 72,427
3:23 PM
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Global check:: US, UK stock futures broadly trade in green
Source: Investing.com
3:13 PM
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Protect volatile equity market gains with 10-15% investment in Gold
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2:52 PM![]()
Ola Electric cuts its scooter prices by up to Rs 25,000. Details here
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Topics : Stock Market MARKET LIVE stock market trading Dalal Street Q3 results Markets Sensex Nifty Midcap smallcap stocks Market news
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First Published: Feb 16 2024 | 7:37 AM IST
