Published 16:09 IST, March 4th 2024

Nifty ends at record high for third day in a row, closes above 22,400

The blue-chip Nifty 50 index closed 0.12% higher at 22,405.60 while the broader BSE Sensex closed 0.09% higher at 73,872.29.

Reported by: Business Desk
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Stock market news | Image: Republic
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Stock market news: Benchmark indices NSE Nifty 50 and S&P BSE Sensex closed on fresh record highs following a rangebound session. The blue-chip Nifty 50 index closed 0.12 per cent higher at 22,405.60 while the broader BSE Sensex closed 0.09 per cent higher at 73,872.29.

Kunal Shah, Senior Technical & Derivative Analyst, LKP Securities, said, "The Nifty commenced the week with a consolidated move, resulting in the formation of a Doji candle on the daily chart. Despite this, the overall sentiment remains bullish. A decisive break above 22,440 is anticipated to intensify the momentum, targeting 22,700 on the upside. On the downside, support is established at 22,200, presenting buying opportunities on any pullbacks towards this level."

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Vinod Nair, Head of Research, Geojit Financial Services, said, "The market traded in a range-bound manner due to weak global cues, while investors turned stock-specific due to the prevailing caution on broader indices. Further, the tepid consumption data influenced investors to refrain from FMCG and discretionary stocks. The global sentiment is likely to be cautious ahead of FED chair testimony and ECB policy later this week. Since inflation is above the target range, the FED is expected to keep its hawkish stance on interest rates and will be watchful of unemployment and nonfarm payroll data for more cues."

Sensex top gainers

  • NTPC: 3.50 per cent
  • PowerGridCorp: 2.63 per cent
  • Reliance: 1.03 per cent
  • Bajaj Finserv: 0.94 per cent
  • Axis Bank: 0.90 per cent
  • ICICI Bank: 0.77 per cent
  • Tech Mahindra: 0.64 per cent

Sensex top losers

  • JSW Steel: -2.49 per cent
  • M&M: -1.75 per cent
  • Tata Steel: -1.32 per cent
  • UltraTechCement: -1.32 per cent
  • Infosys: -1.05 per cent
  • Titan: -0.87 per cent

Nifty top gainers

  • NTPC: 3.69 per cent
  • HDFC Life: 2.82 per cent
  • PowerGridCorp: 2.70 per cent
  • ONGC: 2.68 per cent
  • BPCL: 2.67 per cent
  • Bajaj Auto: 2.05 per cent
  • Dr Reddy: 1.54 per cent

Nifty top losers

  • Eicher Motors: -2.68 per cent
  • JSW Steel: -2.24 per cent
  • SBI Life: -2.06 per cent
  • M&M: -1.74 per cent
  • Britannia: -1.68 per cent
  • LTIM: -1.53 per cent
  • Tata Steel: -1.45 per cent

15:59 IST, March 4th 2024