Stock Market Highlights: Sensex zooms 1030.28 points, Nifty up 274 points

Stock Market Highlights: Sensex zooms 1030.28 points, Nifty up 274 points

The indices witnessed a sharp gain after the trading resumed post technical glitch on the National Stock Exchange on 24th February 2021. The Sensex jumped more than 1,000 points while the Nifty gained close to 2 per cent.

The option buyers suffered huge losses because of trading halt at NSE due to technical glitch in the morning. The trading for all the segments on NSE was closed at 11:40 am and resumed at 3:30 pm while the BSE (Bombay Stock Exchange) continued to function as usual. The trading hours for both the NSE & the BSE were extended till 5 pm today.

At close, the BSE Sensex was up 1030.28 points or 2.07 per cent at 50,781.69 and the Nifty was up 274.20 points or 1.86 per cent at 14,982.00.

On the Nifty 50 index, HDFC Bank (5.42 per cent), Axis Bank (5.38 per cent), Coal India (5.26 per cent), ICICI Bank (3.85 per cent) and Bajaj Finance (3.31 per cent) were the top gainers for the day, while UPL (-2.37 per cent), Power Grid Corp (-1.57 per cent), Dr Reddys Labs (-1.43 per cent), JSW Steel (-1.32 per cent) and TCS (-1.15 per cent) were the top losers for the day.

On the sectoral front, except Nifty IT all the other sectoral indices ended in green led by Nifty Bank & Nifty Financial Service which were up by 3.80 per cent and 3.40 per cent respectively.

The BSE Midcap & Smallcap indices were up 0.77 per cent and 1.08 per cent respectively.

Author’s View: We witnessed a sharp gain in Nifty today, which indicates that the Nifty has moved into a bullish trend. We expect this trend to continue in short term with a bullish target of 15,250.  

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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