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Feb 12, 2020 03:38 PM IST | Source:

Closing Bell: Market rallies for 2nd day in a row, Nifty ends above 12,200; HUL gains 5%

The Sensex added 349.76 points to end at 41,565.90, while Nifty rose 93.30 points at 12,201.20.

  • February 12, 2020 05:21 PM IST

  • February 12, 2020 04:34 PM IST

    Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities:
    On the day of weekly expiry of options contracts, we are anticipating Nifty to trade between the range of 12,170 and 12,250. A lower opening nearer to 12,170 would be buying opportunity in the market. On the other side, a higher opening to 12,250/12,270 should be selling opportunity for intraday traders.

  • February 12, 2020 04:30 PM IST

    Vinod Nair- Head of Research- Geojit Financial Services:

    Investors' appetite for risk improved as coronavirus concerns receded for the second day in a row. The impact of coronavirus has already affected the supply chains and factory activities across the globe, but the ground reality is improving in China and we can expect improvement in the next quarter. The domestic market is awaiting the January inflation and consensus show a spike in inflation which is expected to impact rate-sensitive stocks.

  • February 12, 2020 04:19 PM IST

    Rohit Singre, Senior Technical Analyst at LKP Securities:

    The immediate support for Nifty is coming near 12,150-12,100 zone and resistance is coming near 12,260-12,300 zone. Nifty Bank closed a day at 31,484 with gains of 192 points forming small bullish candle on daily chart, support for Nifty Bank is coming near 31,350-31,150 zone and resistance is coming near 31,700-31,850 zone.

  • February 12, 2020 03:59 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets will react to the macroeconomic data viz. IIP data and CPI inflation numbers in early trade on Thursday. Indications are in the favour of up move to continue but participation would remain restricted so traders should plan their positions accordingly and prefer private banking, financials, FMCG and IT for fresh buying.

  • February 12, 2020 03:54 PM IST

    Santosh Meena, Senior Analyst, TradingBells:

    Indian equity markets are continuing their bullish momentum on the back of buying in heavyweights and short-covering by FIIs in index future. Technically, the overall texture of the market has turned bullish as Nifty witnessed closing above sacrosanct hurdle of 12,170 level which may lead a move towards 12,500 level in the coming days where 12300 will be intermediate resistance level while 50-DMA of 12,123 will act as immediate support in the downside.

  • February 12, 2020 03:44 PM IST
  • February 12, 2020 03:41 PM IST

    Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities:
    We expect 12,450-12,500 to be conquered in the near term. Buying on dips is advisable with immediate support seen at 12,000-12,050 levels. Expect movement to be gradual as no change is seen in Call open interest

  • February 12, 2020 03:36 PM IST

    Market Close: Benchmark indices rallied for the second day on February 12 on the back of positive global cues as new coronavirus cases are slowing in China.

    At close, the Sensex was up 349.76 points or 0.85% at 41,565.90, while Nifty was up 93.30 points or 0.77% at 12,201.20. About 984 shares have advanced, 1490 shares declined, and 170 shares are unchanged. 

    Major gainers on the Nifty include HUL, Kotak Mahindra Bank, Eicher Motors, ICICI Bank and Nestle, while losers were Yes Bank, Bharti Infratel, SBI, IndusInd Bank and BPCL.

    Among sectors, except pharma and PSU banks, other indices ended higher. BSE Midcap and Smallcap indices ended marginally lower.

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