Stock Market Highlights: The Benchmark Indices Ended Flat After A Volatile Session

Nifty ended flat while the Sensex ended lower amid a highly volatile session on 16^th February. Metal stocks witnessed strong buying.

At close, the Sensex was down 49.96 points or 0.10 per cent at 52,104.17, and the Nifty was down 1.20 points or 0.01 per cent at 15,313.50. About 1354 shares have advanced, 1573 shares declined and 160 shares remain unchanged.

On the Nifty 50 index, Power Grid Corp (6.17 per cent), ONGC (5.38 per cent), Tata Steel (4.02 per cent) and Hindalco (3.88 per cent) were the top gainers for the day, while Axis Bank (-2.39 per cent), ICICI Bank (-2.31 per cent), Eicher Motors (-1.56 per cent) and Nestle (-1.50 per cent) were the top losers for the day.

On the sectoral front, IT, Banking and FMCG sectors witnessed selling, while Metal, Pharma, Energy and Infra sectors ended in the green.

The BSE Midcap and Smallcap indices rose 0.19 per cent and 0.43 per cent respectively.

Author’s View: Nifty managed to hold above its support at 15,250. Fresh long positions must be initiated on breakout above 15,350 for a target of 15,500 while maintaining a stop loss at 15,250 on closing basis.   

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.