Sensex and Nifty end at a new high on 3rd February 2021 led by pharma and financial stocks.
At close, the Sensex was up 458.03 points or 0.92 per cent at 50,255.75 and the Nifty was up 142.10 points or 0.97 per cent at 14,789.95. About 1725 shares have advanced, 1189 shares declined and 149 shares remain unchanged.
On the Nifty 50 index, Indusind Bank (7.47 per cent), Power Grid Corp (6.33 per cent), Coal India (4.57 per cent) and Dr. Reddys Labs (3.73 per cent) were the top gainers for the day, while Shree Cements (-166 per cent), UPL (-1.42 per cent), Maruti Suzuki (-0.86 per cent) and Ultratech Cement (-0.80 per cent) were the top losers for the day.
On the sectoral front, except FMCG all other sectoral indices ended in green with Pharma and PSU Bank indices 2 per cent strong and Auto, Metal and Energy indices more than 1 per cent strong each.
Author’s View: The Nifty is likely to hold momentum and reach 14,950 – 15,000. The level of 14,750 will act as a strong support for the index. Any dip near this level can be utilized to initiate fresh long positions.
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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