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February 24, 2021 / 05:09 PM IST

Closing Bell: Sensex jumps 1,030 points, Nifty settles above 14,950; bank stocks hog the limelight

Among the sectors, Nifty Bank and Private Bank indices jumped almost 4 percent while Nifty Financial Services and PSU Bank indices rose up to 3 percent.

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  • February 24, 2021 / 05:50 PM IST

    Ajit Mishra, VP - Research, Religare Broking 
     
    The market managed to end on a strong note in an unusual session. The benchmark made a decent start, tracking favourable global cues. However, a technical glitch on NSE halted trading for most of the session before resuming again at 3.30 pm. 

    Sentiment boosted in the extended hours, taking note of the news that the finance minister allowed the government businesses to transact with private banks. 

    We expect volatility to remain high on Thursday due to the scheduled derivatives expiry of February month contracts. It would be prudent to avoid naked leveraged positions in early trades and prefer hedged bets.

  • February 24, 2021 / 05:49 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services

    The technical glitch did not impact domestic market sentiment though volatility was high with a positive prejudice, in the first session. 

    During the extra session, the market gathered more strength and hugely outperforming the global peers, triggered by squaring-off F&O positions a day ahead of the prefixed monthly expiry date. 

    The global market was mixed, not very convinced that world central banks like FED will maintain a flexible monetary policy even during rising bond yield & inflation and the Asian markets were negatively impacted by a hike in stamp duty on equities.

  • February 24, 2021 / 05:37 PM IST

    View on Technical Glitch by Nirav Karkera, Head of Research at Fisdom

    Considering the duration of the outage and the fact that this has happened right before the expiry. The next session will probably be a chaotic one as a fair number of mispricing events are observed and traders indulge in frantic trading. However, given the buoyant liquidity, markets will realign quickly. Notably, the next session will be especially tough on traders with covered orders who will take among the biggest raps when the scrips' prices reopen directly at points jumping over or below the assigned stop-loss levels.

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  • February 24, 2021 / 05:06 PM IST

    Closing update: The Indian marker ended with sharp gains on February 24 due to gains led by banking and financial stocks. 

    Sensex closed 1030 points, o​r 2.07 percent, higher at 50,781.69 while Nifty jumped 274 points or 1.86 percent to 14,982.

    BSE Midcap and Smallcap indices closed 0.77 percent and 1.08 percent higher, respectively.

  • February 24, 2021 / 04:51 PM IST

    View on Options trade by Yash Gupta, Equity Research Associate, Angel Broking

    Almost the complete day has gone for Options players due to some technical issues at National Stock Exchange which is the biggest exchange in India.

    So in Options price, there is a major component of the time value of money which is known as delta. As we have almost lost one day of trading, the time value of money for the day has been eroded from the Options. 

    Some Options will expire tomorrow i.e February 25, so this trading halt will be beneficial for Option writers as the time value of money will come down when every market opens. 

    On the other hand, this will be a disaster for the Option buyers as their premium will come down significantly.

  • February 24, 2021 / 04:40 PM IST

    Market update: Equities witnessed sharp gains after the trading resumed post technical glitch on NSE. Nifty jumped over 14,950 while Sensex jumped more than 1,050 points. 

    At 1635 hours, Sensex was 1078 points, or 2.17 percent, up at 50,830 and Nifty was 284 points, or 1.93 percent, up at 14,992.

    Nifty Bank and Private Bank indices jumped almost 4 percent each while the Nifty PSU Bank index jumped 3 percent. Media and Metal indices also traded with healthy gains.

  • February 24, 2021 / 04:20 PM IST

    Market update:

     Market update:
  • February 24, 2021 / 04:14 PM IST

    Embargo lifted on grant of Govt business to private banks: Govt

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  • February 24, 2021 / 04:05 PM IST

    Market update: Nifty and Sensex jumped by a percent each after trading resumed. Nifty Bank and Private Bank indices jumped 2 percent while the PSU Bank index jumped about 3 percent. 

    Nifty IT, FMCG and Pharma indices traded in the red at 1600 hours. 

  • February 24, 2021 / 03:54 PM IST

    Nifty gainers:

     Nifty gainers:
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