Markets say CHEERS to FM, Guv; SBI leads the pack, BoB joins in
DSIJ Intelligence / 02 Mar 2016
From last two consecutive days the Indian markets saw a stunning rally. The benchmark indices market opened with positive sentiments and held its gains till closing session. Specially, banking stocks witnessed bumper rally as stocks like SBI, ICICI Bank, Axis Bank, PNB, Bank Of Baroda and IDBI saw bullish up-move.
From last two consecutive days the Indian markets saw a stunning rally. The benchmark indices market opened with positive sentiments and held its gains till closing session. Specially, banking stocks witnessed bumper rally as stocks like SBI, ICICI Bank, Axis Bank, PNB, Bank Of Baroda and IDBI saw bullish up-move. The Nifty ended higher by 146 points at 7368; and Sensex was up by 463 points at 24242. Both the indices ended higher by around 2 percent each.
The market breadth remained positive till closing hour, with 1966 advances and 698 declines on the NSE.
Top 5 Nifty Gainers: SBI was the top gainer for today’s session, closing higher by 11.79%. Among the other gainers were ICICI Bank, PNB, Bank Of Baroda and Hindalco.
Top 5 Nifty Losers: M&M ended lower by 5.4% today, followed by Coal India, Sun Pharma, ITC and Bajaj Auto.
Bankex gained a total of 804 points for the day; IT was up by 263 points; Capital Goods was 171 points higher; and Auto and Healthcare moved up by 80 points each. Mid-Caps and Small-Caps also saw positive trades, both higher by 200 points in the closing session.
In Asia, the Hang Seng was the top gainer and saw an appreciation of 596 points and Nikkei ended higher by 661points. KOSPI and Taiwan Weighted closed with a nominal positive bias.
Buzzers: SBI the banking major stock surged by 11 %. If it holds these gains, it may reach a level of upto Rs 200 in the next few trading sessions.
Nifty Futures saw a handsome up-move and closed above 7350, indicating more strength ahead.
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