Markets rebound! Nifty over 23,200, Sensex up 230 points led by tech stocks

Indian equity indices opened Thursday’s trading session gap-down. The NSE Nifty 50 opened 35 points, or 0.15%, lower at 23,120.95, while the BSE Sensex fell 106 points, or 0.14%, to open at 76,298.96. Hindustan Unilever’s share price declined by 3%. However, both indices soon started to trade in the green. At 10 am around, the Nifty 50 was up 65 points, or 0.28% at 23,220.95 while the Sensex was up 222.95 points, or 0.29%, at 76,627.94.

The GIFT Nifty indicated a lower opening for stocks. It was down 42 points, or 0.18%, at 23,133. During the pre-open session, the Nifty 50 was down 27 points, or 0.12%, at 23,128.30, while the Sensex was up 9.5 points, or 0.01%, at 76,414.52.

“There are two trends in the market that deserve attention. One, the institutional activity is showing a consistent trend – sustained selling by FIIs and sustained buying by DIIs. Two, there is a trend towards quality – largecaps are resilient while the broader market is weakening. These two trends are likely to continue in the near term,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Also Read How will markets open today? 7 key factors to watch from HDFC Bank ADR to Trump 2.0 Markets trend higher – Nifty above 23,000, Sensex near 76,100 led by tech; Infosys, Wipro, TCS clock smart gains Stock in Focus: Dixon Technologies, Kotak Mahindra Bank, Tata Steel, Wipro, Ramkrishna Forgings, Jio Financial, Power Grid, and more Bloodbath on D-Street: 3 reasons why the stock market is falling today

“The long lower shadow from yesterday’s lows shows demand near the 23,000 area. Although longer-term support lies in the 22500 – 22700 zone, it’s critical for bulls to get past 23471,” said Akshay Chinchalkar, Head of Research at Axis Securities.

Hindustan Unilever, Nestle India, SBI, Axis Bank, and BPCL were the major losers in the Nifty 50. On the other hand, Wipro, UltraTech Cement, Trent, Infosys, and Tech Mahindra were the top gainers in the Nifty 50. Infosys, HDFC Bank, TCS, Wipro, and Sun Pharma were the significant contributors to the rise of Nifty 50.

 » Read More

Related Articles

RBI announces additional authentication layer for online international digital payments

Newly appointed RBI Governor Sanjay Malhotra on Friday announced a 25-bps repo rate cut, giving much-needed relief to home and other loan borrowers who have long been waiting for their respective banks to slash rates. It, however, has to be seen how banks respond to RBI rate cut and whether they pass on this benefit

RBI Cuts Repo Rate by 25 bps: What should homebuyers do now?

In a widely-anticipated move, the Reserve Bank of India (RBI) has announced a 25-basis point (bps) reduction in the repo rate, marking a significant step to ease borrowing costs and stimulate economic growth. The decision, unveiled by RBI Governor Sanjay Malhotra on Friday, February 7, follows extensive deliberations by the Monetary Policy Committee (MPC). The

Amul to invest Rs 600 crore in Kolkata

Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), known for its iconic Amul brand, has committed to investing Rs 600 crore to establish a state-of-the-art integrated dairy plant in Kolkata, West Bengal.  The plant will feature the world’s largest curd manufacturing facility with a production capacity of 10 lakh kilograms per day. This announcement was made

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

RBI announces additional authentication layer for online international digital payments

Newly appointed RBI Governor Sanjay Malhotra on Friday announced a 25-bps repo rate cut, giving much-needed relief to home and other loan borrowers who have long been waiting for their respective banks to slash rates. It, however, has to be seen how banks respond to RBI rate cut and whether they pass on this benefit

RBI Cuts Repo Rate by 25 bps: What should homebuyers do now?

In a widely-anticipated move, the Reserve Bank of India (RBI) has announced a 25-basis point (bps) reduction in the repo rate, marking a significant step to ease borrowing costs and stimulate economic growth. The decision, unveiled by RBI Governor Sanjay Malhotra on Friday, February 7, follows extensive deliberations by the Monetary Policy Committee (MPC). The

Amul to invest Rs 600 crore in Kolkata

Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), known for its iconic Amul brand, has committed to investing Rs 600 crore to establish a state-of-the-art integrated dairy plant in Kolkata, West Bengal.  The plant will feature the world’s largest curd manufacturing facility with a production capacity of 10 lakh kilograms per day. This announcement was made

Petrol, Diesel Price Today 7 February 2025 in New Delhi, Lucknow, Mumbai, Rajkot and Jaipur

Petrol, Diesel Price Today 7 February 2025: Oil prices saw a bit surge in early Asian trading on Friday but continued on the path of a third consecutive weekly drop. The reason behind the drop was because of US President Donald Trump’s latest trade tensions with China and potential tariff hikes on other nations. As

Bharti Airtel surges 4% after Q3 results. Here’s what brokerages are saying…

Bharti Airtel’s share price has surged over 4% in the early trading hours after the telecom giant reported a strong earnings, with a net profit of Rs 16,134.6 crore in Q3FY25. As of 10:20 AM IST, Bharti Airtel’s share price was Rs 1,699.50, up 4.92% or 79.75 points today. The market capitalisation of the company