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Market Report

Wednesday, 02-Mar-2016

NSE

  • The BSE S&P Sensex ended the day 468.63 points, or +1.95 per cent, higher at 24,242.98 today while the NSE's Nifty50 closed at 7,368.85 today, up 146.55 points or +2.03 per cent.

  • The S&P BSE Sensex surged over 450 points in early morning trade today to reclaim its crucial level of 24,000. The Sensex touched a high of 24,280.42 and a low of 24,043.89 during the day. The Nifty50 reclaimed the psychological 7,350 level at the very start of the day and then rallied till 7,380 before closing lower at 7,368.85.

  • Top domestic lenders helped extend the post-Budget rally in equities for the second consecutive day. Benchmark indices extended gains to end nearly +2% higher today, after the government pledged support to keep state-owned banks in good health and the RBI eased norms on tier-I capital to put about Rs 35,000 crore extra money in the hands of banks. The sentiment also improved after the global markets witnessed sharp rally in last few trading sessions. FIIs have also started pouring money in Indian markets after the Finance Minister pledged to implement GAAR on taxes from April 1, 2017.

  • Bank Nifty opened with a terrific 3 per cent gain, which is really large for an index, said Dr CK Narayan. We are headed further higher. My sense is that, we are driving ahead towards the 7,500 mark, said Dr Narayan.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)