Stock Market Highlights: Sensex, Nifty Snap Five-Day Losing Streak

Stock Market Highlights: Sensex, Nifty Snap Five-Day Losing Streak

The benchmark indices ended flat post a high volatility session on 23rd February. Metal sector outperformed.

At close, the Sensex was up 7.09 points or 0.01 per cent at 49,751.41 and the Nifty was up 32.10 points or 0.22 per cent at 14,707.80. About 1657 shares have advanced, 1213 shares declined and 158 shares are unchanged.

On the Nifty 50 index, Tata Steel (6.54 per cent), Tata Motors (6.40 per cent), ONGC (5.55 per cent), Hindalco Industries (5.36 per cent) and UPL (4.94 per cent) were among major gainer, while losers were Kotak Mahindra Bank (-3.93 per cent), Maruti Suzuki (-1.64 per cent), Bajaj Auto (-1.49 per cent), Adani Ports (-1.75 per cent) and Divi’s Labs (-1.38 per cent).

On the sectoral front, all the sectoral indices other than Nifty Pharma and Nifty Bank ended in green led by Nifty Metal which was up by 3.89 per cent.

The BSE Midcap and Smallcap indices were up 0.98 per cent and 0.74 per cent respectively.

Author’s View: Nifty forms a Doji candle on a daily chart after five consecutive bearish candles which can indicate a small term trend reversal. If Nifty closes above 14,800 we may 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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