Stock market today: Sensex, Nifty 50 rise for second straight day; investors earn over ₹4 lakh crore in a day

Stock market today: Sensex closed 268 points, or 0.37 per cent, higher at 71,822.83 while the Nifty 50 settled at 21,840.05, up 97 points, or 0.45 per cent.

Nishant Kumar
Updated14 Feb 2024, 04:10 PM IST
Stock market today: Sensex closed at 71,822.83 while the Nifty 50 settled at 21,840.05 on Wednesday.
Stock market today: Sensex closed at 71,822.83 while the Nifty 50 settled at 21,840.05 on Wednesday.(Agencies)

Stock market today: Equity benchmarks the Sensex and the Nifty 50 ended in positive territory for the second consecutive session on Wednesday, February 14, on gains led by select heavyweights, including SBI, Reliance Industries and Axis Bank, amid mixed global cues. 

The domestic market benchmarks fell about a per cent each during the session and traded in the red for the most part of the day. However, fag end buying helped them end with gains.

Sensex closed 268 points, or 0.37 per cent, higher at 71,822.83 while the Nifty 50 settled at 21,840.05, up 97 points, or 0.45 per cent. 

Major European markets were in the green when the Sensex closed. However, among Asian peers, the Nikkei and KOSPI ended lower. This could be attributed to the release of US inflation data yesterday, which came above expectations, leading to speculation that the Federal Reserve might not reduce interest rates as significantly or rapidly as previously anticipated this year.

"The latest shift in rate expectations came after an upside surprise in US inflation on Tuesday that showed the consumer price index (CPI) rose 3.1 per cent on an annual basis, above forecasts for a 2.9 per cent increase," reported Reuters.

The mid and smallcap indices outperformed the benchmarks strongly. The BSE Midcap index jumped 1.39 per cent while the Smallcap index rose 1.24 per cent.

The overall market capitalisation of the firms listed on the BSE rose to nearly 385 lakh crore from nearly 380.8 lakh crore in the previous session, making investors richer by about 4.2 lakh crore in a single session.

Over 200 stocks, including SBI, Reliance Industries, Maruti Suzuki, Bajaj Auto, Bank of Baroda, TVS Motor Company, Trent, Varun Beverages and DLF, hit their fresh 52-week highs in intraday trade on the BSE.

Top gainers in the Nifty 50 index

As many as 35 stocks ended higher in the Nifty 50 index.

Shares of BPCL (up 7.30 per cent), SBI (up 4.14 per cent) and ONGC (up 3.72 per cent) ended as the top gainers in the index.

Top losers in the Nifty 50 index

Shares of Tech Mahindra (down 2.81 per cent), Cipla (down 2.35 per cent) and Dr Reddy's Laboratories (down 1.30 per cent) ended as the top losers in the index.

Sectoral indices today

Most sectoral indices ended with gains. Nifty PSU Bank index surged 3.24 per cent while the Oil & Gas jumped 3.10 per cent. Nifty Media rose 2.51 per cent while the Auto index rose 1.46 per cent.

On the flip side, Nifty IT fell 1.12 per cent. Nifty Healthcare and Pharma indices fell about a per cent each.

Expert's views on markets

"The domestic market staged a recovery from day’s low, buoyed by renewed buying interest in banking stocks. Improving asset quality and the government's continued focus on fiscal prudence attracted PSU banks, yet concerns lingered regarding their elevated valuations," said Vinod Nair, Head of Research, Geojit Financial Services.

"The optimism was further supported by favourable inflation figures from the UK, contributing to a widespread recovery. However, IT shares experienced selling pressure following the release of higher-than-expected US CPI, prompting concerns over potential delays in interest rate cuts and its impact on client spending," Nair said.

Technical views on Nifty 50

"The Nifty remained highly volatile, displaying predominant bullishness throughout the day following a weak start. However, the sentiment remains sideways to negative as long as it stays below 21,850. A decisive move above 21,850 might trigger a strong rally in the market. Beyond 21,850, the Nifty could potentially move towards 22,200. Support for the near term is positioned at 21,700," said Rupak De, Senior Technical Analyst at LKP Securities.

Read all market-related news here

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:14 Feb 2024, 04:10 PM IST
Business NewsMarketsStock MarketsStock market today: Sensex, Nifty 50 rise for second straight day; investors earn over ₹4 lakh crore in a day

Most Active Stocks

Tata Steel share price

149.70
07:18 PM | 1 NOV 2024
1.05 (0.71%)

Indian Oil Corporation share price

145.00
07:19 PM | 1 NOV 2024
2.3 (1.61%)

Tata Power share price

445.20
07:19 PM | 1 NOV 2024
5.15 (1.17%)

Bandhan Bank share price

183.65
07:10 PM | 1 NOV 2024
1.4 (0.77%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Rainbow Childrens Medicare share price

1,545.00
06:59 PM | 1 NOV 2024
-67.25 (-4.17%)

ICICI Securities share price

833.45
06:59 PM | 1 NOV 2024
-32.85 (-3.79%)

Vijaya Diagnostic Centre share price

966.70
06:59 PM | 1 NOV 2024
-30.35 (-3.04%)

Narayana Hrudayalaya share price

1,235.60
06:59 PM | 1 NOV 2024
-36.75 (-2.89%)
More from Top Losers

Brigade Enterprises share price

1,244.80
07:19 PM | 1 NOV 2024
71.75 (6.12%)

PCBL share price

432.15
07:17 PM | 1 NOV 2024
21.35 (5.2%)

Piramal Pharma share price

281.85
07:17 PM | 1 NOV 2024
13.45 (5.01%)

Jubilant Pharmova share price

1,273.00
06:59 PM | 1 NOV 2024
60.65 (5%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    80,565.00-790.00
    Chennai
    80,571.00-790.00
    Delhi
    80,723.00-790.00
    Kolkata
    80,575.00-790.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.92/L-0.06
    Chennai
    101.23/L0.43
    Kolkata
    104.95/L0.00
    New Delhi
    94.77/L0.00

    Popular in Markets

      HomeMarketsPremiumInstant LoanMint Shorts