Indian Market updates| Nifty50 Index and Sensex

February 19, 2020February 19, 2020 admin

Indian Markets- Nifty50 Index and Sensex gained today

Indian market updates Nifty50 Index: Indian market started with a positive note and later extended its morning gains. The market has bounced back after four days of declines. The sentiments of the market got boost after Nirmala Sitharaman’s statement that the government will soon announce measures to deal with the impact of the coronavirus outbreak on the domestic industry.

The RBI governor Shaktikanta Das has also made a statement that there is no reason to doubt that the government will be able to cut fiscal deficit to 3.5% of the GDP in the fiscal beginning April 1. The positive global cues and domestic sentiments have pushed the market higher today and closed in positive zone.

At close, Nifty gained 133.40 points and at 12125.90 while Sensex was up by 428.62 points and at 41323. The Bank Nifty also gained 275.70 points and closed at 30838.20.

The Nifty midcap 100 index gained 264.50 points or 1.49% and closed at 17990.10. Whereas the Nifty smallcap index was up by 80.10 points or 1.32% and closed at 6139.80.

Nifty50 Index stocks- Gainers and losers

The gainers in the Nifty50 index stocks are Bharti Infratel, Grasim, Coal India, Zee Entertainment, and Cipla. The losers in the Nifty50 index stocks for the day are Tata Motors, JSW Steel, Sun Pharma, Bharti Airtel, and TCS.

In the Nifty midcap space, the gainers for the day are Nippon, Indiabulls Venture and the losers are Hexaware Tech, Quess Corp. In smallcap space, the gainers are Wockhardt, Credit Access Gr and the losers are Avanti Feeds, IRB Infra.

Among the sectors except manufacturing and It & Software, all other sectors closed in the green today. FIIs were the sellers in the cash segment for the last three days, for today’s FIIs and DIIs position in cash segment you can click here and check after 6 pm.

Stocks in the news

Nifty50 Index stocks in the news

Kotak Mahindra Bank has received RBI’s approval for promoters shareholding dilution plan. The share price of Kotak Mahindra gained 0.60% and closed at Rs 1701.10 per share.

SBI Cards is going to launch its IPO in the first week of March. The share price of SBI gained 0.88% and closed at Rs 320.35 per share.

Shree Cement is going to add in the Nifty50 index whereas Yes Bank will be out of the Nifty50 index with effect from 27th March 2020. The share price of Shree Cement gained 3.18% and closed at Rs 24533.25 whereas the share price of Yes Bank marginally gained 0.71% in the end and closed at Rs 35.30 per share.

Oil ministery initial bid document for BPCL’s sale and recommends selling of the company’s marketing and refining verticals together. The share price of BPCL gained 1.02% and closed at Rs 475.55 per share.

Other stocks in the news today

Aurobindo Pharma has received an establishment inspection report from USFDA. The share price of Aurobindo Pharma gained 20.27% and closed at Rs 601.85 per share

Spice Jet is going to launch 20 new domestic flights from March 29 on several routes. The share price of Spice jet gained 4.34% and closed at Rs 87.70 per share.

The Wholly own subsidiary company of Trigyn Technologies Inc has bagged a contract to provide IT Technical Resource Augmentation Services by the Ontario Education Collaborative Marketplace (OECM) in the East and West zones of Ontario. The share price of Trigyn Technologies has gained 1.68% and closed at Rs 45.40 per share

ARSS Infra has received a work order of Rs 130 crore for execution of P-Way Linking Works including yard remodeling and other miscellaneous works from Railways. The share price of ARSS Infra has gained 15.41% and closed at Rs 16.10 per share

Crude and rupee updates:

Crude oil is trading higher today on the expectation of production output cut. The Brent crude oil future is trading at $ 58.43 per barrel, it is trading up by 1.18% from yesterday’s close. Indian Rupee is trading at flat today at Rs 71.52 against the US dollar.

Conclusions:

Indian stock markets Nifty50 index and Sensex have closed in a positive note today after a four-days of decline in a row. The Nifty has closed above 12100 level and has resistance at 12220 levels, It needs to break this level for further up move. In the absence of any domestic cues, the market will move further as per global cues.

Traders are advised to follow the global market especially SGX Nifty for indication of the next day’s market and can follow our Nifty and Bank Nifty views.