Sensex closes up with 117.34 points at 50,731.63 led by PSU bank and pharma stocks

On Friday, February 5, 2021, Nifty ended above 14.900 and the Sensex closed above 50,500 led by PSU bank and pharma stocks.

At close, the Sensex was up 117.34 points or 0.23 per cent at 50,731.63 and the Nifty was up 28.60 points or 0.19 per cent at 14,924.30. About 1281 shares have advanced, 1637 shares declined and 146 shares remain unchanged.

On the Nifty 50 index, SBI (10.70 per cent), Tata Steel (4.44 per cent), Divis Labs (3.90 per cent), Kotak Mahindra (3.78 per cent) were the top gainers for the day, while Axis Bank (-3.27 per cent), Bharti Airtel (-3.25 per cent), Tata Motors (-3.14 per cent), ICICI Bank (-2.25 per cent) were the top losers for the day.

On the sectoral front, Nifty PSU Bank gained 3.6 per cent, while pharma index was up by 1 per cent. While Auto, IT and Infra stocks witnessed profit booking.

Author’s View: We continue to remain bullish on Nifty with an upside target of 15,200. A buying on dips strategy would be advisable.

Disclaimer:  The view/s expressed above are only for educational/awareness purpose. Mumbailive.com or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.

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