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Nifty is a market index that was introduced by the National Stock Exchange in April 1996. It’s a blend of two words-National Stock Exchange (NSE) and Fifty. It is a benchmark Indian stock market index that represents the weighted average of 50 of the largest Indian companies listed on the National Stock Exchange.It is one of the two main stock indices used in India, the other being the BSE SENSEX. The base value of the index has been set at 1000 and the base capital of Rs 2.06 trillion. It was initially calculated on a full market capitalization methodology but in 2009 the computation was changed to a free float methodology. The base period for the NIFTY 50 index is November 3 1995, which marked the completion of one year of operations of the National Stock Exchange Equity Market Segment. Nifty 50 index has shaped up to be the largest consisting of exchange-traded funds (onshore and offshore) and exchange-traded options at NSE. It is the world’s most actively traded contract. As of April 2021, the index covers 13 sectors of the Indian Economy and offers investment managers exposure to the Indian market in one portfolio. It also has sectoral indices like NIFTY Bank, NIFTY IT, NIFTY Auto, NIFTY Pharma etc. More
Positive global cues and strong earnings from the State Bank of India lent support to the domestic equities.
US AI stocks pull back, markets in risk on mode again. Can bulls take Nifty back to all time highs?
FIIs have been gradually reducing their exposure to Indian equities due to a weakening rupee and relatively more attractive return opportunities in other global markets.
The India-US trade pact has removed a key overhang, improved export visibility, and triggered a revival in foreign investor interest, noted experts.
Gold advanced above $5,000 an ounce, as dip-buyers returned to the market after an exceptionally volatile week for precious metals.
In the current week starting February 9, the market is expected to first react to the interim trade agreement disclosed by the US and India through a joint statement, along with the removal of additional tariffs on Indian goods.
Sensex Today | Stock Market LIVE Updates: SBI, Kotak Mahindra Bank, HCL Tech, Tata Steel, Jio Financial, Infosys were among major gainers on the Nifty, while losers were Power Grid Corp, Max Healthcare, HUL, M&M, Axis Bank. Except FMCG, all other sectoral indices are trading in the green with PSU Bank index up 3% and Nifty Media index up 2%. Nifty midcap index up 1% and smallcap index up 1.3%.
Experts expect the Nifty 50 to march toward the 25,800–26,000 zone, with crucial support placed at 25,500–25,450, below which bears may come into strong action.
Technically, the Nifty 50 is expected to face strong resistance in the 25,800–26,000 zone, as only above this level is a major upmove toward the previous week’s high possible. However, on the lower side, 25,500 is expected to be a crucial support, experts said.
Traders should refrain from aggressive dip-buying in IT stocks and consider using rallies toward resistance as opportunities to sell until momentum improves, Sudeep Shah said.
Dinshaw Irani doesn't expect the RBI to undertake any rate cuts in the next couple of meetings as even the previous rate cuts have not resulted in the G-Sec yields coming down.
During the week, the BSE Sensex rose 1,310.62 points, or 1.59 percent, to close at 83,580.40, while the Nifty50 gained 373.05 points, or 1.47 percent, to settle at 25,693.70.
The Indian rupee snapped a three-week losing streak to end 133 paise higher at 90.66 on February 6.
Ankita Pathak believes valuations remain high as compared to the EM basket and return of FPIs would be crucial for a based recovery of the market.
The weekly options data signalled a 25,500–25,800 range for the upcoming sessions, while the broader range for the Nifty 50 is seen at 25,000–26,000.
Nearly 100 stocks touched their 52-week lows, including Poly Medicure, Cyient, Hexaware Technologies, AAVAS Financier, Syngene International, Newgen Software, Happiest Minds, Vedant Fashions, Info Edge, Mankind Pharma, KPIT Technologies, P and G, among others.
Catch Lovisha Darad in conversation with Nilesh Jain, Head, Technical and Derivatives Research Analyst, Centrum Broking and Shridatta Bhandwaldar, CIO, Equities, Canara Robeco AMC
Sensex, Nifty staged a sharp recovery from lower levels after the RBI maintained its neutral policy stance and left key policy rates unchanged.
Sensex, Nifty were dragged down by sharp selling IT heavyweights amid weak trend in the US equities.
Market Braces For Tough Session Amid AI-Led Global Tech Rout | RBI Policy Today | Opening Bell Live
On February 5, foreign institutional investors (FIIs) remained net sellers, offloading equities worth ₹2,150 crore. In contrast, domestic institutional investors (DIIs) extended their buying streak for a fourth straight session, purchasing equities worth over ₹1,100 crore.
On the sectoral front, IT index shed 1.5%, pharma index down 0.7%, auto and PSU Bank indices slipped 0.5% each, while FMCG index rose 2.2%, and ol & gas, consumer durables, Private Banks, realty up 0.5% each. ITC, Kotak Mahindra Bank, Bajaj Finance, Bharti Airtel, HUL were among major gainers on the Nifty, while losers included Tech Mahindra, TCS, HDFC Life, Asian Paints and Bajaj Auto. Nifty Midcap index ended flat, while smallcap index down 0.3%.
As far as earnings growth is concerned, given the low base, double-digit seems very likely. But valuations are demanding of more, perhaps closer to mid-teens which is likely but not a given by any assessment, said Pramod Gubbi.
The Bank Nifty remained in a better position than the Nifty 50. The banking index needs to defend the falling support trendline, as below it, 59,600–59,500 are the levels to watch. On the higher side, the hurdle is seen at 60,400, experts said.
As long as the Nifty 50 stays above 25,500–25,450 (key support), an upward move toward 25,800–26,000 is possible; however, a decisive fall below this level can open the door for 25,000, where the maximum Put open interest is placed, experts said.
