Sensex, Nifty Highlights on February 3: Market indices closed at record highs on Wednesday’s after touching lifetime highs in early session in line with positive global equities. Extending gains for third session after Union Budget 2021, Sensex ended 458 points higher at 50,225 and Nifty gained 142 points to 14,789. Sensex and Nifty hit lifetime highs of 50,526 and 14,868 during today’s session. Sensex and Nifty earlier had hit fresh record highs of 50,184 and 14,753, on January 21. IndusInd Bank, followed by Dr Reddy’s, PowerGrid, Tech Mahindra, M&M, Sun Pharma and Axis Bank were among the top gainers. On the other hand, Maruti, Kotak Bank, SBI and UltraTech Cement were among the losers. Meanwhile, December quarterly earnings announcements by Bharti Airtel, Adani Enterprises, Adani Green, Jubilant FoodWorks, Ramco Cement, Apollo Tyre, City Union Bank, will also set the tone for the stock market today. Yesterday, Sensex ended 1,197 points higher at 49,797 and Nifty gained 366 points to 14,647. After Budget 2021-2022, macro data, ongoing corporate earnings season and global market performance will impact stock market movement this week.
Here’s a look at the updates of the market action on BSE and NSE today
3. 53 PM: Closing session on Wednesday
Market indices closed at record highs on Wednesday’s after touching lifetime highs in early session in line with positive global equities. Extending gains for third session after Union Budget 2021, Sensex ended 458 points higher at 50,225 and Nifty gained 142 points to 14,789. Sensex and Nifty hit lifetime highs of 50,526 and 14,868 during today’s session.
3. 50 PM: Market closing outlook
On markets closing –Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,” We have been successful in getting past 14753.55 which was the previous high recorded by the Nifty. We should now target 15000-15100 and given the strong bullish tone, we could achieve this during the course of the February series. While we have good support at 14200-14300, a buy on dips strategy would be most appropriate.”
3. 46 PM: Nifty technical outlook
Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited said,” The market witnessed to extend the gain further after the decisive breakout of the Nifty 50 Index level of 14750. the market is likely to hold the momentum and reaches the level of 14950-15000. The level of 14730-14750 act as a support zone from the short-term perspective. the momentum indicators like RSI, MACD to stay positive supporting our view that the upside movement is likely to continue. ”
3. 33 PM: Sun Pharma share price climbs to new 52-week high
Share price of Sun Pharma gained over 3% in Wednesday’s opening trade to touch a new 52-week high of Rs 648.30, amid a broader jump in pharma index today.
Sun Pharma share price opened at Rs 614.45 and gained 6.38% to the intraday high as well as new 52-week high of Rs 648.3, as against the last closing…
Go to the news source: Sensex ends at record high, Nifty at 14,789; Dr Reddy, IndusInd Bank top gainers