Day trading guide for stock market today: Nine stocks to buy or sell on Tuesday — 20th February
Stock market today: On account of the participatory rally in majority segments, the Indian stock market ended higher for the fifth straight session. The Nifty 50 index hit a new high of 22,186 before ending at 22,122 level. The BSE Sensex shot up 281 points and closed at the 72,708 mark while the Bank Nifty index added 150 points and ended at 46,535 level.
The small-cap index outperformed the Nifty 50 index even as the advance-decline ratio remained high at 1.55:1. "Domestic Equities attained new highs with Nifty touching fresh levels of 22186.65 levels before closing with gains of 81 points at 22122. The midcap and smallcap indices surged in line with the benchmark.
The majority of the sectors ended in the green. Consumer Durables, Pharma, and FMCG were top gainers today, while Realty, PSU Bank, and IT were laggards. The US equity market remains closed today on account of President's Day," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal.
On the outlook for the Nifty 50 index, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, "The near-term trend of Nifty remains positive. However, the market is displaying a lack of strength to witness a decisive upside breakout of the resistance around 22,150 to 22,200 levels. Further consolidation or minor dip can't be ruled out in the coming sessions.
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