Become a logicalchat Member

Latest Post

Growth Investing101: nVent Electric plc (NVT)

Company Overview: nVent Electric plc (NVT) and its subsidiaries are involved in the design, production, marketing, installation, and maintenance of electrical connection and protection solutions. The...

Your story starts here. Sign up and let's connect in ways that truly matter!

HomeNewsIndian NewsRecord High: Nifty Tops 22,500, But Market Momentum Fizzles; Focus Shifts to...

Record High: Nifty Tops 22,500, But Market Momentum Fizzles; Focus Shifts to Mid- and Small-Cap Sectors.

Record High

BSE Sensex and Nifty increased 0.5 percent apiece for the week; the market will be closed on March 8 for Mahashivratri.

Market concluded the rangebound session on March 7 flat after failing to capitalize on initial gains. In the opening trading, Nifty reached 22,500 for the first time.

BSE Sensex achieved a record high of 74,245.17 but concluded 33.40 points (0.05 percent) higher at 74,119.39, while Nifty50 index hit 22,525.65 and closed 19.50 points (0.09 percent) higher at 22,493.50.

Both BSE Sensex and Nifty increased 0.5 percent this week.

The market will be closed on March 8 for Mahashivratri.

Tata Steel, Bajaj Auto, Tata Consumer, Tata Motors, and JSW Steel led Nifty gains, while M&M, BPCL, Reliance Industries, Axis Bank, and ICICI Bank fell.

Bank, oil & gas, car, and realty lost, while metal, capital goods, media, and FMCG gained 1-2.5 percent.

BSE mid-cap and small-cap indexes increased 0.3 and 0.7 percent, respectively.

Sectors and stocks

Banks, oil and gas, automobiles, and real estate all lost money, whereas metal, capital goods, media, and FMCG all gained 1-2.5 percent.
The BSE mid-cap index jumped 0.3 percent, while the small-cap index increased 0.7 percent.
Stocks that reached 52-week highs on the BSE include Bajaj Auto, Bodal Chemicals, Glenmark Pharma, Godfrey Phillips, Hitachi Energy, Infibeam Avenue, Jindal Steel, JSW Holdings, Oracle Financial Services, Rallis India, Tata Chemicals, Tata Investment, Tata Power, Tata Steel, TVS Motor, and Union Bank of India.

March 11 forecast

The Nifty opened flat and consolidated, closing marginally in the green up ~19 points. The consolidation is a brief pause in the overall uptrend, and the up move is expected to resume in the coming week. Dips towards 22390 – 22340 should be used as a buying opportunity, as key hourly moving averages are placed in this range. On the upside, 22570 – 22600 will act as an immediate hurdle zone.

Bank Nifty saw profit booking and traded within the range of 47442 – 48161 of the previous trading session. It is steadily moving towards its support zone of 47680 – 47560, which can act as a potential trend resumption area. The Nifty stayed below the psychological 22,500 mark, with call writers at the 22,500 strikes increasing their positions. Support is expected to hold at 22,400, and a decisive move above 22,500 could trigger buying interest in the market, potentially pushing the index towards 22,700 in the short term.

FII Bought  574.28  Cr
DII Bought1,834.61  Cr
as per last trading session

Indian Market Stocks

Sensex33.40+0.05%74119.39
Nifty 5019.50+0.09%22493.50
Bank Nifty-129.60-0.27%47835.80
as per closing Bell

Market Movers

Tata Steel5.65 3.73%M&M-73.10 -3.71%
TATA Cons. Prod41.50 3.40%BPCL-13.65 -2.14%
Bajaj Auto274.20 3.19%Reliance-48.15 -1.60%
Tata Motors21.65 2.13%Axis Bank-13.55 -1.20%
JSW Steel17.10 2.10%ICICI Bank-9.15 -0.83%
as per closing Bell

Must read book about investing – check here

Record High Record High Record High Record High Record High Record HighrRRecord HighRecord Highecord Highockets

Market Rally Halts Market Rally Halts Market Rally Halts Market Rally Halts

stor Alarm

Related Post