Day trading guide for stock market today: Nine stocks to buy or sell on Wednesday — 14th February
Indian stock market: Frontline indices the Sensex and the Nifty 50 ended higher on Tuesday, February 13, driven by notable performances from specific banking giants. Nifty 50 rose 127 points, or 0.59 per cent, to end at 21,743.25 while the Sensex closed at 71,555.19, up 483 points, or 0.68 per cent. Mid and smallcaps also ended in the positive territory.
The BSE Midcap index rose 0.61 per cent while the Smallcap index ended with a small gain of 0.18 per cent. “Nifty bounced back from yesterday’s losses after India’s CPI inflation came in at a 3-month low of 5.10%. The index closed with gains of 127 points (+0.6%) at 21743 levels.
All sectors ended in green, except Metals. Banking and Financial Services were top gainers. PSU sector bounced back after witnessing profit booking over the last few sessions.
On the other hand, Reliance became the first Indian company to cross Rs.20 lakh market cap. MSCI Global Standard Index saw a quarterly rejig today that could lead to inflows of nearly $1 billion from passive FII funds. Many stocks like NMDC, GMR Airports, Union Bank, BHEL, and Punjab National Bank were in focus post the MSCI review," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
On the outlook for the Nifty 50 index, Rupak De, Senior Technical Analyst, LKP Securities, said, "The Nifty exhibited volatility throughout the day, mostly fluctuating within the range of 21650 and 21750. The prevailing sentiment is expected to persist in a sideways to bearish direction as long as the index stays below 21850. On the downside, a short-term support level is identified at 21500.
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