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Stock Market Highlights: Sensex, Nifty clock another record high, Budget rally continues


Stock Market Highlights: Sensex, Nifty clock another record high, Budget rally continues
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Sensex and Nifty ended at a record close for the third session on 4th February 2021 led by metal and financial stocks.

At close, the Sensex was up 358.54 points or 0.71 per cent at 50614.29 and the Nifty was up 105.70 points or 0.71 per cent at 14895.70. About 1813 shares have advanced, 1110 shares declined and 142 shares remain unchanged.

On the Nifty 50 index, ITC (6.09 per cent), SBI (5.70 per cent), Bajaj Finance (4.95 per cent) and Coal India (4.63 per cent) were the top gainers for the day while Asian Paints (-2.11 per cent), UPL (-1.83 per cent), Cipla (-1.74 per cent) and IndusInd Bank (-1.56 per cent) were the top losers for the day.

On the sectoral front, apart from IT all other sectoral indices ended in green led by Nifty PSU Bank index which was more than 5 per cent strong.

The BSE Smallcap and Midcap indices rose more than 1 per cent each.

Author’s View: Buy on dips will be a good strategy in the current market. Nifty looks bullish and the next target should be 15,000 – 15,100. The support at 14,750 remains intact. The technical indicators also point out towards a bullish trend.

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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