Share Market News: Here's a look at the updates of the market action on BSE and NSE today 
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Share Market News: Here's a look at the updates of the market action on BSE and NSE today Sensex, Nifty Highlights on February 24: Share market indices settled 2% higher in the extended trading session on Wednesday, amid positive global equities. Ending near record highs, Sensex closed 1,030 points higher at 50,781 and Nifty gained by 274 points to end at 14,982. Last Tuesday, Sensex hit a record high of 52,516 and Nifty hit a lifetime high of 15,431.The market breadth was strong on the BSE, with 1782 shares rising and 1124 shares falling, and a total of 165 shares unchanged. Sectorally, except for IT and pharma index, all the other indices ended with decent gains. Private, PSU Bank and financial indices closed 3% higher today. NSE Nifty reopened at 14,781.20 today and extended trading from 3.45 pm to 5pm. BSE equity and equity derivatives markets will also remain open till 5 pm today as decided jointly between exchanges today. All F&O MIS positions will get squared off at 4.15 pm and all F&O CO positions will forcibly be squared off by 4pm.Yesterday, Sensex ended 7 points higher at 49,751 and Nifty gained 32 points to end at 14,707.
Here's a look at the updates of the market action on BSE and NSE today
5. 17PM: Market ends 2% higher
Share market indices settled 2% higher in the extended trading session on Wednesday, amid positive global equities. Ending near record highs, Sensex closed 1,030 points higher at 50,781 and Nifty gained by 274 points to end at 14,982.
5. 11PM: Banking index outlook
S Ranganathan, Head of Research at LKP Securities said,"A late surge by bulls across Financials post lifting of the embargo on the grant of GOI business to private banks took indices up 2% today when trade time was extended till 5.00 pm"
5.00 PM: Sector update
Sectorally, except for IT and pharma index, all the other indices ended with decent gains. Private, PSU Bank and financial indices closed 3% higher today.
4. 55PM: Amara Raja Batteries outlook
Geojit Financial Services said," During Q3FY21, ARBL revenue came at 12%YoY led by sustained demand recovery both in OEM and replacement sales. EBITDA margin came lower at 15.6% (-60bps) due to higher lead price. However, continued cost control initiative offset further decline. Investment of Rs350cr for technological & capacity up-gradation in the lithium ion pilot project and 2W/4W batteries is progressing as per schedule, and will drive volume growth in medium to long term. Setting up 50MW solar power plant in Andra Pradesh for an outlay of Rs220cr and setting up a Greenfield lead recycling unit with capacity of 1lac ton, for an outlay of Rs280cr to be spend over 18months. Given the strong aftermarket reach and brand visibility ARBL to gain market share from the unorganized sector. The aftermarket segment accounts for 40% of the automotive sales & rest from the OEM We believe the auto sector is likely to show meaningful pick up in near term owing to lower base and new launches. We value ARBL at 20x FY23EPS and recommend Buy rating at CMP."
4. 51 PM: Sanofi India share pricegains over 3%
Sanofi India share price opened with a gain of 2.23% and touched an intraday high of Rs 8250, rising 3.48% on BSE. A final dividend of Rs 125 per share and a special dividend of Rs 240 per share has been approved by the company.
4. 43PM: InterGlobal Aviation outlook
Geojit Financial Services said,"Revenue declined by 51% YoY, but on sequential basis revenue grew by 79% QoQ, led by improvement in passenger growth. Resumption of flight operations, cost rationalization and healthy cash positions is helping the company in tiding over crisis situation. With passenger traffic gradually reaching to pre-Covid levels, revenue growth to normalize in FY22 led by better utilization of fleet and relaxation in price caps. Management focus expansion of international footprints and deeper penetration into Tier 2-3 cities, to drive growth in near future. While replacement of old aircraft with 15% more fuel efficient fleets will improve profitability in the medium term. Strong balance sheet position compare to its peers, focus on route optimization & cost rationalization and likely market share gains, we remain constructive on the stock in the long term. We roll forward to FY23E and value Indigo at P/E of 18x with a target price of Rs1,804 and upgrade to Buy."
4. 33PM: Market update
European stocks bounced back while Asian stocks ended lower on Wednesday. Share market indices were trading with decent gains in the extended trading session on Wednesday, amid positive global equities. Sensex traded 1,000 points higher at 50,710 and Nifty gained by 255 points to trade at 14,970. The market breadth was strong on the BSE, with 1782 shares rising and 1124 shares falling, and a total of 165 shares unchanged. Sectorally, gains in PSU Banking, financial, private banking media and metal index were capped by losses in auto, IT, FMCG and pharma index.
4. 22PM: F&O segment trading time
F&O Segment Normal Market will re-open today as follows:
Normal Market open time : 15:45 hrs
Normal Market close time : 17:00 hrs
Trade Mod cut off time: 17:30 hrs
CD Segment Normal Market will Re-open at 15:30 hrs
COM Segment Normal Market will Re-open at 15:30 hrs
SLB Market will Re-open at 15:30 hrs
CM Segment Market will Re-open as follows:
Pre-Open open time : 15:30 hrs
Pre-Open close time : 15:38 hrs (random closure in last minute)
Normal Market open time : 15:45 hrs
Normal Market close time : 17:00 hrs
Call Auction Illiquid session open time (1 sessions of 1 hour) : 16:00
Post close start time : 17:10 hrs
Post close end time : 17:30 hrs
Trade Mod cut off time: 17:45 hrs
4. 10 PM: Nifty outlook
Dinesh Thakkar, CMD - Angel Broking said,"NSE has stopped all trading activities due to a technical glitch in its index streaming feed. The exchange is resolving the issue, and the NSE server is expected to come back online shortly. Meanwhile, Angel Broking customers can execute their orders in Equity, F&O, and Currencythrough BSE.
During the early hours of 24th February, there was a technical glitch experienced at NSE with respect to receiving index price feed. As a preventive measure, NSE halted all of its trading activity at 11.40 AM until the issue gets completely resolved. In order to facilitate seamless order execution our clients can put their trade through BSE.We are in continuous touch with NSE on the issue."
4.05 PM: Outlook on NSE technical glitch today
Anand James, Chief Market Strategist at Geojit Financial Services said,"Expiry eve is a crucial day for expiry related trades as time decay sets in. As indices froze a little after 10 am, FNO trades that reference such benchmark indices also slowed down. With hardly an hour's trade possible for such index-based traders the higher margins on F&O positions may have been a double whammy. Towards this end, BSE being open may not have been much solace, but certainly a backup avenue for cash traders. Fortunately, VIX had calmed down after Monday's steep fall, and the extended session post 3. 45pm could help settle things. As of Tuesday, Nifty and Bank nifty rollovers were at 40.9 and 36.7 respectively, in line with what is usually seen on similar days of previous expiries"
3. 51 PM: Dilip Buildcon outlook
Geojit Financial Services said,"Q3FY21 revenue grew by 3.6% YoY led by normalcy in operation and strong order book. EBITDA margin declined by 115bps YoY to 16.5% due to higher material cost while other expenses declined by 44% YoY. Order book remain healthy at Rs26,141cr (3x TTM revenue) supported by strong inflow of Rs15,831cr in 9MFY21, provides strong revenue visibility for the next three years. PAT de-grew by 13% YoY due to higher tax rate of 33.9% compared to base quarter and lower other income (-26% YoY). DBL is in the advance stage of monetising 12 HAM projects and expects cash flow of Rs 2,000cr over FY22 & FY23. We maintain Buy rating due to strong order book and positive economic activity. Our TP of Rs753 based on a P/E of 13x FY23E EPS & HAM business at 0.3x P/B of invested equity.
3. 46PM: NSE Nifty reopens at 14,781.20
NSE Nifty reopened at 14,781.20 today and extended trading from 3.45 pm to 5pm. BSE equity and equity derivatives markets will also remain open till 5 pm today as decided jointly between exchanges today. All F&O MIS positions will get squared off at 4.15 pm and all F&O CO positions will forcibly be squared off by 4pm.
CURRENT:14,764.20, CHG:56.4/0.38%, HIGH:14,836.45, LOW:14,723.05, For detail:https://t.co/2qzJKwqKk1 - Feb 24, 2021 15:36:54
- NSE_NIFTY (@NSE_NIFTY) February 24, 2021
3.30 PM: SPARC share price slips over 2%
SPARC share price touched an intraday low of Rs 169, down 2.79% intraday after the company said that US FDA sought new phase 3 study on cancer drug Taclantis.
3. 20 PM: Nifty technical outlook
Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities said,"Nifty50 is currently in consolidative phase; we expect the same to continue for the next few weeks. Broader range is seen at 14500-15200. From the medium term perspective, the undertone remains extremely positive and we expect the index to test 16000 odd levels. Banking, Metals and Realty remain preferred picks and can be accumulated on corrections."
3. 12 PM: Heranba Industries IPO subscribed 84% on day 1
Heranba Industries initial public offer (IPO) was subscribed 84 per cent at the end of the first day of the bidding process. The Rs 625-crore IPO received bids for 58,76,845 shares, 84 per cent of the total issue size of 69,81,417 shares, according to NSE data. The IPO, which opened for subscription on February 23, 2021, will close on Thursday, February 25, 2021.
Heranba Industries shares are available in a price band of Rs 626-627 per share. The company collected Rs 187.50 crore from 18 anchor investors on February 22.
Heranba Industries IPO subscribed 84% on day 1
3.07 PM: Market outlook
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities said,"Markets logged small gains after a sharp decline in last five sessions. Most of the time such type of formation works as a continuation and on Wednesday, if the market breaks the 14630/49600 level, the Nifty / Sensex could fall further on the support of 14530/49300 levels. However, a 50% retracement shown by the Nifty / Sensex after the announcement of the Union Budget could be a reversal for the market. In short, there should be a buying strategy if the Nifty / Sensex falls to the 14530/14500 levels, however, if the Nifty closes below the 14500 level, it would indicate further weakness. On the upside, 14850/50350 and 14950/50750 levels would be the major obstacles. While the metals sector performed well to date, bank stocks failed to perform due to exceptional strength in long-term bond yields."
2. 56 PM: Aurobindo Pharma share pricerises over 2%
Aurobindo Pharma share price gained after 5 days of consecutive fall and touched an intraday high of Rs 878.45 (2.62%) today. To avail the benefit of captive consumption of solar power, the company has entered into binding agreements to invest Rs 5.38 crore each in NVNR (Ramannapet I) Power Plant and NVNR (Ramannapet II) Power Plant, Hyderabad. The company will hold 26 per cent of the equity share capital of each of the solar power generating companies after subscription.
2. 40 PM: Bajaj Auto outlook
Centrum Broking said,"Bajaj Auto is currently trading at 16.6x FY23 EPS, close to its last 10 year average one year forward PER of 17x. We are nearly at the end of FY21, and so far, between FY11-21E, the earnings have grown by 6.1% CAGR. We expect the earnings growth for FY21-23E to be 21.5% CAGR that puts it in an upcycle. The company has traded above +ve 1 SD PER ratio during upcycles as a trend. Hence, our target price of Rs4,807 is 20x our FY23 EPS is a reasonable assessment of the company's fair value."
2. 30 PM: SMC Global Securities makes direct debut on BSE, NSE
SMC Global Securities on Wednesday made a direct debut on the BSE, NSE to provide liquidity to its existing shareholders. The stock was listed at Rs 90.90 on NSE and Rs 91.60 on BSE.
The company that was already listed on Calcutta Stock Exchange (CSE) went public in 90s and was listed on multiple stock exchanges.
SMC Global Securities makes direct debut on BSE, NSE; lists at Rs 91.60
2. 23 PM: YES Bank share price gains over 4%
YES Bank share was trading 4.4% higher in Wednesday's session, ranking among the most active banking scrips in terms of volumes on both BSE and NSE today.
The stock of the private lender opened at Rs 15.75 as against its previous close of Rs 15.65 and touched the day's high of Rs 16.35, rising 4.4% intraday. The stock also hit an intraday low of Rs 15.70. The stock has risen 2.88% in the last 2 days.
YES Bank share price rises over 4%
2. 10 PM: Tata Power outlook
Reliance Research said in ite note,"Tata Power is oscillating well above the rising channel on the daily chart. This indicates stock could witness fresh up moves. Daily RSI is poised for a trend line break and monthly RSI is well above the resistance indicates stock is poised for a fresh rally from the current levels of Rs93.80. Monthly chart (inset) depicts multiple trend line breakout which could prove supportive for the prices to oscillate higher. Long positions can be initiated in the range of Rs93-Rs94 for a target of Rs118. This view will be negated at Rs83 (stop loss) on closing basis."
2.00 PM: NBCC Q3FY21 outlook
Geojit Financial Services said," Q3FY21 revenue grew by 19% YoY led by pick up in execution in PMC segment (21% YoY) and improved labour availability. EBITDA margin improved by 181bps YoY due to fall in employee cost (-3% YoY) and other expenses (-22% YoY). Order book remains strong at Rs62,000cr, however, orders worth ~Rs18,500cr were in execution stage and NBCC targets to take total projects under execution to ~Rs27,000cr in FY21. NBCC got clearance for Nauroji & Netaji Nagar projects while Sarojini Nagar projects are awaiting forest clearances. We increase FY21E/22E revenue estimates by 15%/16% due to pick up in PMC execution and revival in real estate monetisation. We value NBCC's core business at a P/E of 20x on FY22E EPS & Rs5/share for land parcel held and revise our rating to Buy with a TP of Rs45."
1. 49 PM: Alkem Labs share price rises over 1%
Alkem Labs share price gained after 2 days of consecutive fall and rose 1.5% to day's high of Rs 2776.60 on BSE today. The company received US FDA nod for generic of antibiotic drugs Omnicef and Suprax.
1.20 PM: Gayatri Projects outlook
Amarjeet Maurya - AVP - Mid Caps, Angel Broking said,"Gayatri Projects Ltd (GPL) is engaged in providing infrastructure development services. has received Letter of Award (LOA) for development of six lane access controlled in Uttar Pradesh portion of Delhi Saharanpur Highway from Delh»/UP border to EPE Junction (Ch.14.750 to Ch. 31.600) in the State of Uttar Pradesh on EPC mode under Economic Conidor in phase 1 of Bharatmala Pariyojana. Order size is around Rs1,324cr. This is a positive development for the company, which would support revenue growth for FY22."
1. 13PM: NSE halts cash & futures market trading on technical glitch
NSE has suspended cash & futures market trading at 11:40 AM after there is an issue with live ticks for NSE indices (Nifty 50, Nifty Bank and others) across brokers. NSE said repoening will be notified. NSE has intimated that all the pending orders will get cancelled in NSE FNO, CM & CD segment at re-opening prices of the market today. Meanwhile, BSE said all segments will operate as usual on Wednesday.
Trading on NSE halted due to technical glitch
1.07 PM: Ambuja Cement outlook
Centrum Broking said,"We have revised our CY21e/CY22e consolidated EBITDA estimate to Rs56.97bn/Rs66.95bn (earlier Rs54.2bn/Rs63.1bn) backed by revision in ACEM's SA EBITDA to Rs29.5bn/Rs33.1bn (earlier Rs26.9bn/Rs31.5bn). ACEM's clinker capacity addition will address its current clinker shortage and help gain incremental volumes. Further cost savings (~Rs50/tonne) driven by predominantly the logistics cost will aide earnings. Healthy balance sheet and debt free status only adds comfort. Accordingly we now assign an EV/EBITDA multiple of 11.7x (earlier 10x) to arrive at a fair value of Rs311/sh (earlier Rs261). Maintain BUY."
12. 58 PM:Mazagon Dock share price rises 3%
Mazagon Dock share price touched an intraday high of Rs 221.8, rising 2.97% on BSE today. The stock has been gaining for the last 2 days and has risen 4.64% returns in the period. The company signed MoU with Mumbai Port Trust in Maritime India Sumit 2021.
12. 44 PM: Tata Power share price rises 2.5%
Tata Power share price touched an intraday high of Rs 94.3, rising 2.5% and traded 1.88% away from 52 week high of Rs 94.85 on BSE today. The company will issue NCDs worth Rs 900 crore on private placement basis.
Tata Power stock has been gaining for the last 2 days and has risen 3.44% returns in the period.
12. 30 PM: SBI Cards share price gains 1%
SBI Cards share price gained 1% to Rs 1048, its intraday high today. The stock has been gaining for the last 2 days and has risen 1.8% returns in the period. The company will issue NCDs worth Rs 550 crore.
12. 20 PM: UPL share price declines 4%
UPL share price touched an intraday low of Rs 547.3, falling 3.39%. The company has issued an update on the fire incident at Unit 5, Jhagadia. UPL issued a closure notice for the entire plant saying that operating the plant is a safety risk. The closure will take place gradually as an immediate shutdown of a chemical unit may lead to another accident.
12.01 PM: RailTel share allotment today
RailTel Corporation of India will finalise the allotment of its initial public offering (IPO) on Wednesday. The IPO of state-owned RailTel Corporation, which closed last week, was subscribed 42.42 times. The retail individual investor's segment was subscribed 16.78 times while qualified institutional buyers (QIBs) category 65.14 times and non-institutional investors 73.25 times.
RailTel share allotment today: Here's how to check status
11. 50 AM: NSE halts all trading on technical glitch
NSE suspended cash & futures market trading at 11:40 AM. There is an issue with live ticks for NSE indices (Nifty 50, Nifty Bank and others) across brokers. NSE said repoening will be notified.
NSE has multiple telecom links with two service providers to ensure redundancy. We have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on NSE system.
- NSEIndia (@NSEIndia) February 24, 2021
11. 45 AM: Pfizer share price gains 3%
Pfizer share price touched an intraday high of Rs 4585.4, rising 3% on BSE today after the company said its COVID-19 vaccine has received full approval from Brazil's health regulatory agency.
11. 34 AM: NTPC share price drops 1%
NTPC share price fell 1% to Rs 103 on BSE today. The company said that it has signed a share purchase agreement to buy GAIL's 25.51 per cent shareholding in Ratnagiri Gas and Power Pvt Ltd (RGPPL) to exit from Konkan LNG.
11. 26 AM: Coal India share price up 5%
Coal India share price gained nearly 5% to Rs 144.10, its day's high after the firm announced that its board members will meet on March 5, 2021, to consider the second interim dividend.
11. 16 AM:Tata Consumer share hits 52-week high
Tata Consumer Products share rose over 4% in early trade after NSE said the stock will replace GAIL India Ltd on the Nifty50 index from March 31. Stock of Tata Consumer Products hit a fresh 52 week high of Rs 652.85 rising 4.1% against previous close of Rs 627.50 on BSE.
The Tata group share has gained 3.29% in two days. The stock opened with a gain of 3.64% at Rs 654 today. Tata Consumer share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Tata Consumer share hits 52-week high as firm to replace GAIL on Nifty
11.05 AM: Gold outlook and view
Kshitij Purohit, Product Manager, Currency & Commodities, CapitalVia Global Research Limited said, "International Gold prices are trading in a sideways range as firm U.S Dollar and rising U.S. Treasury yields pushed gold to lower levels whereas upside movement is fueled by discovery of new strains of Covid-19. Rising U.S. Investors await for U.S. Fed Chairman's testimony expected later during the day. Technically, International Gold is trading with marginal negative bias after testing the resistance levels of $1812-$1817. We may expect bulls to dominate the evening session if prices trade above $1800 levels. On the domestic front, MCX Gold April opened on positive note but has been trading in a marginal sideways trend. Bullish momentum is likely to persist above 46600-46800 levels. Resistance is at 47100-47200 levels."
10. 55 AM: Global oil prices fall
Oil prices fell in early trade on Wednesday after industry data showed US crude inventories unexpectedly rose last week as a deep freeze in the southern states curbed demand from refineries that were forced to shut. Crude stockpiles rose by 1 million barrels in the week to Feb. 19, the American Petroleum Institute (API) reported on Tuesday, against estimates for a draw of 5.2 million barrels in a Reuters poll.
API data showed refinery crude runs fell by 2.2 million bpd. US West Texas Intermediate (WTI) crude futures were down 55 cents or 0.9% at $61.12 a barrel at 0136 GMT, after slipping 3 cents on Tuesday.
Global oil prices fall after rise in US crude inventories; Brent reaches $64.99 per barrel
10. 47 AM: Tata Consumer Products to replace GAIL in Nifty 50
Tata Consumer Products Ltd will enter the Nifty 50 index from March 31, while GAIL (India) Ltd will be excluded from the index.
The Tata group company had reported a consolidated net profit of Rs 237 crore in October-December quarter, while its total income stood at Rs 3,089 crore.
The changes in index are part of a periodic review conducted by the Index Maintenance Sub-Committee, the National Stock Exchange said in a release.
Tata Consumer Products to replace GAIL in Nifty 50 from March 31
10. 30 AM: ICICI Pru Life Insurace outlook
Reliance Research in its note said," ICICI Prudential Life Insurance failed to sustain above the intermediate levels of Rs500. Stock has now posted a trend line breakdown on daily chart which could trigger weakness on the current trend. We recommend to exit long positions at Rs463."
10. 22 AM: Stocks to watch today on February 24
Coal India, Pfizer, SBI Cards, Tata Power, NTPC, UPL among others are the top stocks to watch out for in Wednesday's trading session
Stocks in news: Coal India, Pfizer, SBI Cards, Tata Power, NTPC, UPL
10. 11 AM: Global markets
Overseas, Asian stocks are trading mixed on Wednesday amid cautious trade in global markets as investors focused on the developments surrounding the pandemic and vaccine rollout.
Wall Street reversed course late Tuesday, with the S&P 500 and the Dow whipsawing to positive territory by the closing bell after remarks overnight from Federal Reserve Chair Jerome Powell that attempted to ease some worries around higher interest rates and inflation.
10. 03 AM: Heranba IPO
Choice Broking said in its note,"Heranba had a positive operating cash flow over FY18-20, which increased by 2.2% CAGR to Rs. 542.1mn in FY20. Average operating cash flow during the period was at around Rs. 646.2mn. Average RoIC and RoE stood at 35.6% and 31.1%, respectively, over FY18-20. The company has paid dividend in the last three years with an average dividend payout of around 6.7% over FY18-20
At higher price band of Rs. 627, Heranba is demanding a TTM P/E multiple of 25.7x (to its restated TTM EPS of Rs. 24.4), as compared to the peer average of 27.4x. We feel the demand valuation is too stretched and thus assign a "Subscribe with Caution" rating for the issue."
9. 56 AM: Market technical outlook
On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The Index is trying hard to hold on to the 14700 level. If we manage to keep below it, the Nifty could slide down to 14500 and thereafter 14300. On the upside there is a resistance patch at 15000-15100 and until that is not crossed, we remain bearish in the short term time frame.
9. 40 AM: Currency Outlook
Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research Limited said," The rupee opened on positive at 72.35 against the US dollar in opening trade on this morning, yesterday it gains a bit in morning session but the depreciate bit after the RBI's intervention. FII sold 1100 CR into domestic equity on Tuesday putting pressure on the local currency, Dollar index trading negative and on the verge of braking $90. Investor will eye on development on stimulus discussion on Friday. Technically, USDINR Feb Future closed at 72.5350 on previous trading session, market could see Bearish momentum up to 72.40 levels in todays session."
9. 37 AM: Market outlook
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"Sharp spike in the volatility index VIX to 25.23 indicates a high level of uncertainty & expectations of high ups & downs, going forward. FIIs turning sellers (Rs 1569 cr yesterday) is negative. But DIIs have turned buyers, partly compensating for the FII selling. The global liquidity backdrop continues to be positive since the Fed has reaffirmed its accommodative monetary stance. Fed chief's comment that 2% inflation in the US is far away, is positive for global markets. Investors can exploit the high volatility to make investments in segments where valuations are attractive & the risk-reward ratio is favourable. IT, presently under a bit of pressure due to rupee appreciation, offers buying opportunity. Valuations are relatively reasonable & earnings visibility is high"
9. 20 AM: Opening session
Share market indices opened on a bullish note on Wednesday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 50 points, indicating a positive trend in domestic grounds today. Sensex traded 140 points higher at 49,895 and Nifty gained by 40 points to trade at 14,750.
9. 10 AM: Nifty technical outlook
Reliance Research said in its note today," Bears, take a breather as NSE-NIFTY breached its prior daily falling trend and formed Bullish Harami-pattern around its lower band of the rising channel. Due to recent pause in the fall, major technical indicators on the near-term timeframe chart reversed from lower levels, but remained below their threshold levels. In case undergoing short covering continues, the index could test 15,000-level. However further decline could drag the index towards 14,300-level.
As for the day, support is placed at around 14,622 and then at 14,535 levels, while resistance is observed at 14,824 and then at 14,941 levels."
9.00 AM: FII action
Foreign portfolio investors (FPIs) sold shares worth Rs 1,569.04 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 216.67 crore in the Indian equity market on 23 February, provisional data showed.
8. 50 AM: Closing on Tuesday
Amid high volatility, market indices ended flat with a positive bias on Tuesday, tracking tepid cues from European and Asian equities. Traders said concerns over the return of lockdown situation in a few states also hurt market sentiment
Reversing from 5 days of fall, Sensex ended 7 points higher at 49,751 and Nifty gained 32 points to end at 14,707. Yesterday, Sensex ended 1,145 points lower at 49,744 and Nifty lost 306 points to 14,675.
Sensex, Nifty snap five-day losing streak; ONGC, L&T, Sun Pharma, NTPC, TCS top gainers
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