Markets extended yesterday’s rebound and gained nearly a percent on the F&O expiry day. Upbeat global cues combined with strong traction in banking majors triggered a strong start. However, profit-taking at the higher levels capped upside as the day progressed. Finally, the Nifty index ended with healthy gains of 0.8% to close at 15,097 levels.
Amongst the sectors, except FMCG and Capital Goods, all the other indices ended with gains wherein Oil & Gas, Metals and Realty were the top gainers. The broader markets continued to witness healthy buying interest as both midcap and smallcap ended higher by 1.1% and 1.5%.
Global cues and upcoming macroeconomic data i.e. GDP data will dictate the trend from hereon. Mostly sectoral indices trading in the tandem with benchmark however we feel banking has the potential to help the index inch further higher. Amid all, we feel it’s prudent to wait for further clarity and limit naked leveraged positions.
February 25, 2021 / 04:12 PM IST
Rohit Singre, Senior Technical Analyst at LKP Securities:
One more positive session and index managed to close at 15,093 with gains of nearly one percent & formed a gravestone Doji kind of candle pattern on the daily chart. On the immediate basis, the index has good support near the 15k mark if the index managed to sustain above the 15k mark then-current positive move can extend further towards the 15,200-15,250 zone which are the hurdle zone on the higher side and if fails to sustain then strong profit booking can be a witness.
February 25, 2021 / 04:05 PM IST
Gaurav Garg, Head of Research at CapitalVia Global Research
February 24 was a tough day for traders and so for the investors after NSE witnessed a technical glitch because of which trading had to be halted and there was a high degree of uncertainty among investors.
FII data showed a net buying of Rs 28,739 crores. However, this is because a bulk deal of approximately Rs 30,000 crore in Bosch has been included in this. If we remove this from the FII data, then FIIs were net sellers with around Rs 1000 crore.
As of now, FIIs are looking more confident and we might see some more buying from FIIs. Not to forget, Centre has lifted the restrictions on grant of transaction rights for government businesses to private banks as the Finance Minister, Nirmala Sitharaman announced on Wednesday, which also added some buying momentum in selective private banks which also added fuel to the party.
February 25, 2021 / 04:02 PM IST
Heranba Industries IPO subscribed 77 times:
The public issue of Heranba Industries had been subscribed 76.65 times by afternoon on February 25, the final day of bidding, as it received bids for 53.51 crore equity shares against an offer size of 69.81 lakh equity shares, the subscription data available on the exchanges shows.
Vinod Nair, Head of Research at Geojit Financial Services:
Domestic market added strength on yesterday’s rally supported by positive F&O monthly roll-over and robust global market. Small and mid-cap stocks continued its outperformance over the benchmark indices. World equity market rebound after getting assurance from central banks, importantly FED, that good liquidity will be maintained, in spite of being under pressure of rising inflation, since the economy is still well below the pre-covid standpoint.
February 25, 2021 / 03:54 PM IST
S Ranganathan, Head of Research at LKP Securities:
The day clearly belonged to the Nifty PSE Index which rose 4% today after the plan announced yesterday to privatise and monetise assets of PSE. The broader market also witnessed keen investor interest in Power stocks.
February 25, 2021 / 03:39 PM IST
Rupee Close: Indian rupee ended 10 paise lower at 72.42 per dollar, amid buying saw in the domestic equity market. It opened flat at 72.30 per dollar against previous close of 72.32 and traded in the range of 72.30-72.52.
February 25, 2021 / 03:36 PM IST
Market Close: Benchmark indices ended higher on February 25 with Nifty ending the February series near 15,100 level supported by the metal and energy stocks.
At close, the Sensex was up 257.62 points or 0.51% at 51,039.31, and the Nifty was up 115.40 points or 0.77% at 15,097.40. About 1755 shares have advanced, 1149 shares declined, and 169 shares are unchanged.
Coal India, UPL, Adani Ports, Hindalco Industries and BPCL were among major gainers on the Nifty, while losers were ICICI Bank, Nestle, L&T, Divis Labs and Titan.
Except FMCG, other sectoral indices are trading in the green with metal index rose 4 percent and energy index added 3 percent. BSE Midcap and Smallcap indices up 1 percent each.
February 25, 2021 / 03:24 PM IST
Jateen Trivedi, Senior Research Analyst at LKP Securities:
Rupee traded weak near 72.40 on back of some strength in the dollar and with higher Crude price, where Brent touched 67+ & Nymex 63. Rupee can be seen trading between 72.10-72.60 with the broad trend still strong for rupee till the time 72.75 hold as resistance for USDINR.