Nifty Manages a 2nd Consecutive Close in Green

At the close, the Nifty 50 was at 17,893.45 up by 0.12%

The NSE Nifty 50 index started at a low but was able to recover and close in the green with a 0.12% increase. The fact that the Nifty closed above 17890 suggests that the overall performance of the 50 companies in the index was strong. The strong advances in IT, media, and financial services stocks indicate that these sectors performed well and drove the overall increase in the Nifty 50 index. It’s important to note that stock market performance can be influenced by a variety of factors, including economic conditions, company-specific events, and broader market trends.

Buzzing

Shares of Adani Group companies experienced a downturn on February 9, following a two-day period of recovery. The sharp drop was precipitated by MSCI’s announcement of a review of the number of Adani Group-linked shares available for trading on public markets.

The announcement by MSCI regarding the review of the free float status of the listed companies in the Gautam Adani group could have led to some uncertainty among investors, leading to a decline in the share prices of these companies. The free float of a company is a measure of the number of shares available for trading and can impact the calculation of market capitalization, which is an important factor in determining a company’s weight in stock market indices. Any changes to the free float status of the Gautam Adani group companies could impact the calculation of these figures, which could in turn impact their stock prices.

Bank Nifty: Up by 0.04%

The Bank Nifty and BSE Sensex both opened in the green and ended the day with positive returns, with the Bank Nifty rising by 0.04% and closing at 41,554.30, and the BSE Sensex surging by 0.23% and ending the day at a record high of 60,806.22. These positive returns suggest that the stock prices of the companies in these indices have increased, indicating a strong performance by these companies. It’s important to note, however, that stock market performance can be influenced by many factors and can be subject to fluctuations. As a result, it’s important to exercise caution when making investment decisions and to consider a range of factors before investing in the stock market.

Bank Nifty

The Nifty Banking sector had some gainers and some losers for the day. The gainers included IndusInd Bank with a 1.81% increase, Bandhan Bank with a 1.15% increase, Bank of Baroda with a 1.01% increase, Kotak Bank with a 0.25% increase, and State Bank of India with a 0.23% increase. On the other hand, the biggest losers in the sector included AU Bank with a 1.51% decline, Punjab National Bank with a 1.36% decline, IDFC First Bank with a 1.09% decline, Federal Bank with a 1.07% decline and Axis Bank with a 0.51% decline. These results suggest that some banking stocks performed better than others for the day.

Advance Decline Ratio

Today, the advance-decline ratio was 0.89, and the market breadth was negative. The volatility index India Vix decreased by 4.08 percent to settle at 13.04 and the FIIs were net sellers today.

DAILY MARKET ACTION
Advancers – 1047
Decliners – 1182
52Wk High –  36
52Wk Low – 64
High Band Hitters – 62
Low Band Hitters – 44
200d SMA – 17307
50d SMA – 18123
20d SMA – 17872

Top Gainers and Losers Stocks

The top gainers were Bajaj Finserv (+2.27%), Hindalco (+2.20%), HDFC Life (+2.19%), Asian Paint (+1.97%), and IndusInd Bank (+1.81%).

The top losers were Adani Enterprises (-11.19%), Adani Ports (-2.94%), Hero MotoCorp (-2.02%), Cipla (-1.73%), and JSW Steel (-1.18%).

Top Gainers and Losers Sector

The top gainers sector were IT (+0.70%), Media (+0.60%), and Financial Services (+0.14%).

The top losers sectors were Metal (-1.58%), Realty (-0.58%), Auto (-0.52%), Pharma (-0.44%), and Oil & Gas (-0.32%).

The Nifty Midcap 50 was up by 0.21 percent, while the Nifty Small Cap 50 up by 0.19 percent on the day.

The Nifty Midcap 50 index currently closed at 8,758.55, while the Nifty Small Cap 50 index currently closed at 4,281.05.

SECTORS – NOTABLE ACTION
IT +0.70%
MEDIA +0.60%
FINANCIAL SERVICES +0.14%
METAL -1.58%
REALTY -0.58%
AUTO -0.52%

Stocks Ban List

(SEBI) F&O ban list (IBULHSGFIN open at 120.65 and close at 118.30), and (AMBUJACEM open at 378.00 and close at 357.80), are not currently on the stock exchange.

The Securities and Exchange Board of India (SEBI) has banned IBULHSGFIN and AMBUJACEM from trading in the futures and options (F&O) segment of the stock exchange.

A stock enters the Ban List if its MWPL is above 95%. Implying that, Ban List shows the Futures and Options (FnO ) stocks whose combined open interest in all FnO contracts for a given period crosses 95% of Market-Wide Position Limit.

ADANIPORTS exited from ban list.

PNB, IDEA and GNFC has a possibilites of entery in a ban list.

Daily Pivots

The Nifty trading range has been confined to a narrow band between 17,800 and 17,960.

Read previous -Daily Insights- here
Nifty 50 Stages a Decent Comeback
Nifty Struggles to Find Direction…
Nifty -Positive weekend!

This article is only for educational purposes and is not an investment advice.