February 18, 2024
Positive Rebound in Indian Markets: Nifty 50 and Sensex Record Healthy Gains
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Positive Rebound in Indian Markets: Nifty 50 and Sensex Record Healthy Gains

Positive Rebound in Indian Markets: Nifty 50 and Sensex Record Healthy Gains/PTI

Positive Rebound in Indian Markets: Nifty 50 and Sensex Record Healthy Gains

1. Investor Optimism Amid Global Positivity

Equity benchmarks Nifty 50 and Sensex closed positively, driven by optimistic investor sentiment fueled by global cues and a rebound after recent corrections.

2. Select Heavyweights Drive Market Resilience

The domestic market maintained a positive trend as investors, buoyed by anticipated robust economic growth and potential rate cuts, strategically invested in select heavyweights to counter recent market falls.

3. Midcaps and Smallcaps Outshine Benchmarks

While Nifty 50 and Sensex recorded gains, midcaps and smallcaps outperformed, with the BSE Midcap index surging 1.69% and the Smallcap index rising 1.06%, indicating broader market resilience.

Top Gainers and Losers in Nifty 50:

  • Gainers: ONGC, Bharti Airtel, and NTPC led the gains.
  • Losers: IndusInd Bank, Kotak Mahindra Bank, and HDFC Bank faced declines.

Sectoral Performance:

  • Most sectoral indices, including Nifty Auto, FMCG, Metal, PSU Bank, and Oil & Gas, posted gains.
  • Nifty Bank slipped marginally, while Nifty Private Bank and Nifty Media experienced declines.

Market Capitalization Surge:

  • The overall market capitalization of BSE-listed firms increased by nearly ₹4.1 lakh crore in a single session, reaching ₹373.6 lakh crore.

Expert Insights:

  • Analysts attribute the market rebound to renewed buying support, emphasizing India’s strong long-term growth prospects. Concerns over higher valuations and global factors led to a brief profit-booking phase, but the market remains resilient. Sector rotation is anticipated in the coming sessions.

Investors should remain cautious amid potential risk factors like interest rate uncertainties and the evolving domestic earnings landscape, according to industry experts Prashanth Tapse and Vinod Nair.

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