Taking Stock: Market extends gains for 2nd day; Nifty tops 25,700, Sensex jumps 480 pts
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More than 110 stocks touched their 52-week high, including Indian Bank, Cummins India, Apar Industries, Bharat Forge, Polycab India, Max Financial, JB Chemicals, SBI Life Insurance, Union Bank of India, Bank of Baroda, Bank of Maharashtra, Hitachi Energy, SBI, L&T, NTPC, Bank of India, KEI Industries, Astral, Voltas, among others.
- Sensex rose 480 points, Nifty closed above 25,700 amid volatility
- Auto, FMCG, PSU Bank stocks led gains; IT and metal sectors fell
- IDFC First Bank fell 16% on Rs 590-crore fraud report
The Indian equity market began the week on a positive note, extending gains for a second consecutive session on February 23, with the Nifty closing above 25,700 mark amid volatility.
The market opened on a strong note, supported by positive global cues after the US Supreme Court struck down US President Donald Trump’s tariff programme. However, it witnessed mid-session profit booking amid concerns after the US President raised temporary global tariffs on nearly all imports to 15 percent from 10 percent.
Despite the volatility and final-hour buying, the indices closed near the day’s high, led by gains in auto, FMCG, and PSU Bank stocks.
At close, the Sensex was up 479.95 points or 0.58 percent at 83,294.66, and the Nifty was up 141.75 points or 0.55 percent at 25,713.
The broader indices ended on a mixed note, with the Nifty Midcap index declining 0.4 percent, while the Nifty Smallcap index edged up 0.3 percent.
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Biggest Nifty gainers were Adani Ports, Dr Reddy’s Labs, Kotak Mahindra Bank, HDFC Life, Nestle, while losers included Hindalco, Wipro, Infosys, Tech Mahindra, Cipla.
Among sectors Information Technology shed 1.4 percent, metal down 0.2 percent, while PSU Bank index added 1.3 percent, while pharma, oil & gas, infra, FMCG, auto added 0.5 percent each.
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In stock specific action, IDFC First Bank shares fell 16% on reporting Rs 590-crore fraud government in accounts, AU Small Finance Bank shares shed 5% after the Haryana government de-empanelled its accounts, DEE Development Engineers share price surged 20% on order win of Rs 173 crore, UPL shares plunged 14% after board approves composite scheme to create independent crop protection platform.
Cohance Lifesciences shares added 3% after 7.7 million shares traded in a block, Morepen Laboratories shares added 15% on multi-year contract win, Stallion India shares fell 5% despite land allotment approval for HFO manufacturing plant, RailTel Corporation of India share price added nearly 2% on LoI of Rs 1136 crore.
More than 110 stocks touched their 52-week high, including Indian Bank, Cummins India, Apar Industries, Bharat Forge, Polycab India, Max Financial, JB Chemicals, SBI Life Insurance, Union Bank of India, Bank of Baroda, Bank of Maharashtra, Hitachi Energy, SBI, L&T, NTPC, Bank of India, KEI Industries, Astral, Voltas, among others.
More than 220 stocks touched their 52-week low, including Hexaware Technologies, KPIT Technologies, Wipro, Afcons Infra, CE Info Systems, Info Edge, Inox Wind, Reliance Power, Cyient, Ola Electric, Concord Biotech, AAVAS Financiers, Just Dial, Suzlon Energy, LT Technology, Bata India, Mankind Pharma, Clean Science, among others.
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