If you got up in the morning today and checked your portfolio, there is a high probability that it would have been in the red. But if you would have checked it again in the afternoon around closing time, it might have recovered significantly. That’s because it was a volatile day and the indices managed to recover sharply after an 8-day consecutive decline on Dalal Street. The Nifty closed 37.25 points up or 0.16% at 22,966.50, while the BSE Sensex rose 68.47 points or 0.09% to end the day at 76,007.68.
The day’s low for Nifty was 22,725.45 while for the Sensex it was 75294.76. Nifty Pharma was up 1.27% followed by Nifty Metal which was 0.77% up. However, NSE’s advance/decline ratio remained poor with 854 stocks in green and 1599 stocks in red.
In the Nfty, Adani Enterprises (3.93%) was the top gainer, followed by Bajaj Finserv (2.65%), IndusInd Bank (2.5%), Power Grid Corp (2.23%), and Adani Ports(2.11%). On the other hand, M&M (-3.76%), Bharti Airtel (-2.42%), Wipro (0,89%), TCS (0.775), and Infosys (0.76%) were the top losers.
Experts still believe that the markets are not out of the woods yet. Nifty will face hurdles at 23,000 23,300 levels. In February, FPIs have offloaded ₹22,929 crore worth of Indian shares on exchanges. They had sold ₹87,374 crore worth of sales in January. The sustained selling pressure has brought India's market capitalization below the $4-trillion mark for the first time in over 14 months.
Disclaimer: Article only for educational purpose. Please consult your financial advisor before taking any financial decision
