Sensex, Nifty LIVE Updates on February 24: Share market indices opened on a bullish note on Wednesday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 50 points, indicating a positive trend in domestic grounds today. Sensex traded 140 points higher at 49,895 and Nifty gained by 40 points to trade at 14,750. Yesterday, Sensex ended 7 points higher at 49,751 and Nifty gained 32 points to end at 14,707.
Here's a look at the LIVE updates of the market action on BSE and NSE today
9. 37 AM: Market outlook
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"Sharp spike in the volatility index VIX to 25.23 indicates a high level of uncertainty & expectations of high ups & downs, going forward. FIIs turning sellers (Rs 1569 cr yesterday) is negative. But DIIs have turned buyers, partly compensating for the FII selling. The global liquidity backdrop continues to be positive since the Fed has reaffirmed its accommodative monetary stance. Fed chief's comment that 2% inflation in the US is far away, is positive for global markets. Investors can exploit the high volatility to make investments in segments where valuations are attractive & the risk-reward ratio is favourable. IT, presently under a bit of pressure due to rupee appreciation, offers buying opportunity. Valuations are relatively reasonable & earnings visibility is high"
9. 20 AM: Opening session
Share market indices opened on a bullish note on Wednesday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 50 points, indicating a positive trend in domestic grounds today. Sensex traded 140 points higher at 49,895 and Nifty gained by 40 points to trade at 14,750.
9. 10 AM: Nifty technical outlook
Reliance Research said in its note today," Bears, take a breather as NSE-NIFTY breached its prior daily falling trend and formed Bullish Harami-pattern around its lower band of the rising channel. Due to recent pause in the fall, major technical indicators on the near-term timeframe chart reversed from lower levels, but remained below their threshold levels. In case undergoing short covering continues, the index could test 15,000-level. However further decline could drag the index towards 14,300-level.
As for the day, support is placed at around 14,622 and then at 14,535 levels, while resistance is observed at 14,824 and then at 14,941 levels."
8. 50 AM: Closing on Tuesday
Amid high volatility, market indices ended flat with a positive bias on Tuesday, tracking tepid cues from European and Asian equities. Traders said concerns over the return of lockdown situation in a few states also hurt market sentiment
Reversing from 5 days of fall, Sensex ended 7 points higher at 49,751 and Nifty gained 32 points to end at 14,707. Yesterday, Sensex ended 1,145 points lower at 49,744 and Nifty lost 306 points to 14,675.
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