Benchmark indices NSE Nifty 50 and BSE Sensex extended the previous session’s gains and scaled new highs during the special trading session on March 2.
The 50-share NSE index made a new all-time high at 22,419.55 and closed 0.18 percent higher at 22,378.4. On the other hand, the 30-share Sensex hit a fresh 52-week high at 73,994.70 and closed the special trading session marginally up at 73,806.15.
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Stocks and sectors
The top gainers on Nifty 50 were Tata Steel, Hero Motocorp, Tata Motors, Adani Ports and JSW Steel, while the biggest laggards were Mahindra & Mahindra, Maruti Suzuki, NTPC, Sun Pharma and Nestle India.
All the broader market indices ended in the green, with Nifty Midcap and Smallcap indices rising over half a percent. The volatility index, India VIX ended 1.59 percent lower at 14.99.
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Sectorally, Nifty Media, Nifty Metal, and Nifty Consumer Durabled ende over a percent higher. Bank Nifty settled flat at 47,297.50.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 80,710.76 | -7.25 | -0.01% |
| Nifty 50 | 24,741.00 | 6.70 | +0.03% |
| Nifty Bank | 54,114.55 | 39.10 | +0.07% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Eicher Motors | 6,580.50 | 155.50 | +2.42% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| ITC | 407.35 | -8.55 | -2.06% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Auto | 26320.60 | 325.75 | +1.25% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty IT | 34635.80 | -507.30 | -1.44% |
A short buildup was seen in Gujarat Gas, Axis Bank, NTPC, Pidilite Industries, and MRF while a long build-up was seen in Indin Energy Exchange (IEX), Aurobindo Pharma, Havells, Voltas, and Astral.
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More than 98 stocks touched their 52-week highs on the NSE, including Adani Enterprises, Ambuja Cements, Azad Engineering, Data Patterns (India), Dixon Technologies (India), Havells India, Hindustan Aeronautics and Tata Motors among others. Click here for the full list
Outlook for March 4
Santosh Meena, Head of Research, Swastika Investmart
Nifty is resuming its bullish momentum after two months of consolidation. 22,500 is an immediate target level, while 22,750 is the next target level. On the downside, 22,200–22,000 will now act as a strong demand zone.
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Bank Nifty has been gaining momentum and is likely to outperform from here. 47,500 is an immediate hurdle; above this, the index is expected a move towards 48,000/48,800 levels. On the downside, 46,600–46,300 will act as a strong support zone.
Prashanth Tapse, Sr VP, Research Analyst at Mehta Equities
If today’s bullish trading action is any indication, Nifty’s next goal post is seen at its psychological 22,500 mark and then aggressive targets are placed at the 23,000 mark. Nifty bulls are likely to be in a joyful and triumphant mood as optimism is again seen flying high like a kite.
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