Stock Market Live Highlights: Despite A Strong Start, Markets End In Red

Selling pressure in HDFC Twins further dampened investor morale.

By Zee Media Bureau | Last Updated: Friday, February 24, 2023 - 16:24

Benchmark indices got off to a good start thanks to confidence in the US market and purchasing in Reliance Industries.

In line with the negative trend in Asian markets driven by recent outflows of foreign funds, benchmark indices on Friday gave up early gains and finished down. Selling pressure in HDFC Twins further dampened investor morale.

Despite a strong start, the BSE Sensex fell 141.87 points, or 0.24 percent, to end the day at 59,463.93 points. It dropped 280.46 points or 0.47 percent over the day to 59,325.34. To finish at 17,465.80, the NSE Nifty fell 45.45 points, or 0.26 percent.

"The February month started with volatility on the Budget Day and the trading has remained range bound for the last 4 weeks. The range for the whole February series was from 18,100 to 17,450 levels and prices continued to trade in line with the 9 & 21 EMA...Technically, the structure is shifting its momentum towards the bears, and the immediate support for the Nifty is placed at around 17,300 – 17,200 levels. In case prices drift below these levels, then 17,000 – 16,800 will be on the cards. Only a sustained close above the 17,800- 17,850 zone is likely to trigger bullish momentum toward the 18,150 – 18,200 levels," Rohan Patil, Technical Analyst, SAMCO Securities

 

24 February 2023, 16:23 PM

That's that. See you next week on the live coverage of stock market.

24 February 2023, 14:30 PM

Stock Market Live Updates: Top Laggards

The top laggards in the Sensex pack included Mahindra & Mahindra, Tata Steel, Tata Motors, Maruti, Larsen & Toubro, HDFC, HDFC Bank, Tech Mahindra, and Bharti Airtel

24 February 2023, 16:23 PM

Stock Market Live Updates: Top Winners

Among the winners were Asian Paints, Bajaj Finserv, Power Grid, Reliance Industries, NTPC, and UltraTech Cement.

24 February 2023, 12:53 PM

NSE Indices launches Nifty India Municipal Bond Index

NSE Indices Ltd, an NSE arm, on Friday said it has launched the country's first ever municipal bond index. The new Nifty India Municipal Bond Index will track the performance of municipal bonds issued by Indian municipal corporations across maturities and having investment grade credit rating, NSE Indices said in a statement.

The index was launched at a Securities and Exchange Board of India (Sebi) workshop on Municipal Debt Securities in Bengaluru.

Presently, the index has 28 municipal bonds issued by 10 issuers all having credit rating in the AA category. The index constituents are assigned weights based on their outstanding amount.

24 February 2023, 11:23 AM

Stock Market Live Updates: Crude Outlook

"On Thursday, gold prices drifted lower, adding utp to the tally of weekly loss, as prices settled with a marginal 0.13 percent cut...Supply cuts from one of the major oil producers will keep crude prices underpinned", Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd said

24 February 2023, 11:22 AM

Stock Market Live Updates: Gold Outlook

"On Thursday, gold prices drifted lower, adding utp to the tally of weekly loss, as prices settled with a marginal 0.13 percent cut...We expect gold to trade lower towards 55330 levels, a break of which could prompt the price to move lower to 55140 levels, Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd

24 February 2023, 10:30 AM

Stock Market Live Updates: Support Level For Nifty 

"Traders are advised to avoid creating fresh shorts here and should ideally keep a close eye on recent draggers who are trading around key supports, which can certainly provide better trading opportunities," Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd said

24 February 2023, 10:27 AM

Stock Market Live Updates: Support Level For Nifty 

"Hopefully, the key support for Nifty around 17450–17350 remains intact, and the moment we get a strong close above 17700 – 17800, we may see a good sustainable rally in the March series. Let’s see how things pan out going forward," said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd

24 February 2023, 10:27 AM

Stock Market Live Updates: Major Gainers

In the Sensex pack, Bajaj Finserv, Kotak Mahindra Bank, State Bank of India, Infosys, IndusInd Bank, Asian Paints, Bharti Airtel, Reliance Industries and UltraTech Cement were among the gainers

24 February 2023, 10:27 AM

Stock Market Live Updates: Major Losers

Mahindra & Mahindra, Tata Steel, Tata Motors, Maruti and ITC were the laggards

24 February 2023, 10:25 AM

In Asian markets, South Korea, China and Hong Kong quoted lower, while Japan traded in the green.