Wednesday, February 19, 2025

Markets extend gains led by Cipla, Power Grid; Tata Motors drops 6% 

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The equity benchmarks maintained their upward momentum in Thursday afternoon trading, with both the Sensex and Nifty posting gains amid mixed global cues following the US Federal Reserve’s rate pause decision. The 30-share BSE Sensex traded higher by 278.34 points or 0.36 per cent at 76,811.30, while the broader NSE Nifty rose 115.85 points or 0.5 per cent to 23,278.95 at 12.30 PM.

Market breadth remained positive with 2,384 stocks advancing compared to 1,381 declines on the BSE, while 142 shares remained unchanged. The trading session saw 50 stocks hitting their 52-week highs, while 71 touched their 52-week lows. Circuit filters were triggered for 445 stocks, with 214 hitting the upper circuit and 231 touching the lower circuit.

Pharmaceutical major Cipla led the gainers on the NSE, rising 3 per cent, followed by Power Grid and Mahindra & Mahindra, both advancing 2.76 per cent. Financial stocks showed strength with Bajaj Finance gaining 2.67 per cent, recovering from earlier volatility. Oil major ONGC rounded out the top five gainers with a 2.45 per cent increase.

However, automotive giant Tata Motors continued its decline from morning trade, falling 6.20 per cent to become the session’s biggest loser. ITC Hotels saw significant selling pressure, dropping 4.48 per cent. Financial services provider Shriram Finance declined 1.31 per cent, while technology stocks faced headwinds with Wipro and Infosys falling 1.12 per cent and 0.88 per cent respectively.

“Market gains and dips are two parts of the same coin when it comes to investing in capital markets and is a normal part of any investor’s journey,” said Sarvjeet Singh Virk, Co-founder & Managing Director, Shoonya by Finvasia. “The key is not to make decisions which are sentimental and driven by emotion. As far as possible, let market insights guide your decision-making, keeping long-term and short-term goals in mind.”

Sector-wise, the Nifty Bank index traded higher by 113.10 points or 0.23 per cent at 49,279.05, while Nifty Financial Services gained 94.10 points or 0.41 per cent to reach 23,139.05. The Nifty Next 50 showed stronger momentum, rising 314.80 points or 0.51 per cent to 62,456.95, though the Nifty Midcap Select index bucked the trend, declining 33.15 points or 0.28 per cent to 11,838.55.

The market’s positive sentiment came despite continued selling by Foreign Institutional Investors (FIIs) and ahead of the Reserve Bank of India’s upcoming monetary policy meeting on February 7, where investors await potential signals on interest rate trajectory.







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