Sensex, Nifty LIVE Updates on February 4: After a volatile start, market indices turned positive for the fourth straight session post Union Budget 2021 and traded near lifetime highs on Thursday, in line with positive global equities. Sensex rose 150 points higher at 50,384 and Nifty gained by 50 points to 14,840. Sensex and Nifty hit new lifetime highs of 50,474 and 14,862 during today’s session. ITC, M&M, ONGC, Bajaj Finserv, NTPC were among the top gainers while ICICI Bank, IndusInd Bank, Infosys, HDFC traded as top losers. BSE’s market capitalization rose to Rs 200.11 lakh crore against the previous close of Rs 198.43 lakh crore. Yesterday, Sensex ended 458 points higher at 50,225 and Nifty gained 142 points to 14,789. On Wednesday, Sensex and Nifty hit record highs of 50,526 and 14,868. Meanwhile, quarterly earnings announcements by State Bank of India, Hero MotoCorp, Adani Power, Adani Transmission, Arvind, Bajaj Electricals will also set the tone for the stock market today.
Here’s a look at the LIVE updates of the market action on BSE and NSE today
1. 47 PM: Currency Outlook
Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said,” The rupee opened on flat at 72.93 against the US dollar in opening trade on Wednesday morning, the rupee open in green at 0.08 paisa, On Wednesday it closed 72.94 against greenback.
The U.S. Dollar Index is at 91.17 against currency basket, It trading above 50 Day SMA and likely to go towards 100 days SMA showing bullish momentum. Asian Equity market trading flat on the morning. Technically, USDINR Feb Future closed at 73.11. it is expected to trade with bullish momentum for the day, Spot pair took support of 72.80 and come up, it took resistance of 21 days SMA placed at 73.08 and closed below it, It is expected to open near 72.90, Strong Dollar index, Flat Equity market will help dollar to go up side. Local banks are defending 72.80 levels very strongly.”
1. 31 PM: Manappuram Finance stock outlook
Reliance Research said in its note today,”The stock failed to surpass its short-term resistance (Rs187) and reversed down. On the lower side, the stock found support at around its Oct 20 low of Rs 153 and bounced to Rs 185. Overbought technical indicators on the near-term timeframe chart signal the stock may not to be able to surpass that resistance. Hence, its advised to close the long trade at current juncture (Rs 183).”
1. 23 PM: Investor wealth crosses Rs 200 lakh crore for first time
Market cap of BSE-listed firms crossed Rs 200 lakh crore for the first time after Sensex scaled high of 50, 474 in trade today. Investor wealth rose to Rs 200.11 lakh crore against the previous close of Rs 198.43 lakh crore on BSE.
The rise in market wealth comes after FM Nirmala Sitharaman presented a growth-oriented Budget, with higher fiscal deficit limits and privatisation plans that buoyed investors.
Investor wealth crosses Rs 200 lakh crore for first time as Budget 2021 sparks…
Go to the news source: Sensex hits record high, Nifty at 14,860 for first time; ITC, ONGC, M&M top gain…
