Stock Market Highlights: Sensex surges 750 points, Nifty above 14,750

Stock Market Highlights: Sensex surges 750 points, Nifty above 14,750

The benchmark indices closed near day’s high on 1st March 2021. The Sensex rallied more than 700 points while Nifty closed above 14,750 led by Auto, Metal & Energy stocks.

At close, the Sensex was up 749.85 points or 1.53 per cent at 49,849.84 and the Nifty was up 232.30 points or 1.60 per cent at 14,761.50. About 1921 shares have advanced, 1093 shares declined and 189 shares remain unchanged.

On the Nifty 50 index, Power Grid Corp (6.04 per cent), ONGC (5.45 per cent), Grasim (5.43 per cent) UPL (5.17 per cent) and Shree Cements (4.55 per cent) were the top gainers for the day, while Bharti Airtel (-4.33 per cent) was only stock on the Nifty 50 index that ended in red.

On the sectoral front, all the sectoral indices except Nifty PSU Bank ended in green led by Nifty Auto (2.38 per cent), Nifty Metal (1.94 per cent) and Nifty Energy (1.95 per cent).

The Nifty Midcap & Nifty Smallcap indices ended rose 1.46 per cent and 1.61 per cent respectively.

Author’s View: Though Nifty showed some positive movement today, it is still trading below its resistance which is placed at 14,850. If Nifty breaks out above 14,850 level we can see further up move towards 15,000 level.

Disclaimer:  The view/s expressed above are only for educational/awareness purpose. 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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