Stock market today: Day trading guide for Nifty 50 to Bank Nifty, six stocks to buy or sell on Wednesday — 6th March
Stock market today: The domestic equity market benchmarks, including the Nifty 50 and the Sensex, halted their four-day winning streak due to subdued global cues, on Tuesday, March 5. The Nifty 50 concluded the trading day with a decrease of 49 points, representing a 0.22 percent decline, closing at 22,356.30. Similarly, the Sensex finished at 73,677.13, marking a dip of 195 points or 0.26 percent.
The BSE Midcap index saw a minor decline of 0.17 percent, while the Smallcap index exhibited weaker performance compared to the benchmark Sensex, dropping by 0.63 percent. “Nifty snapped a 4-day winning streak on account of profit booking. India’s service PMI eased to 60.6 in Feb, dampening the sentiments.
The index closed with a loss of 49 points at 22356 levels. Sector-wise it was a mixed bag with buying seen in PSU Bank, Auto, and Oil & Gas. IPO market saw a stellar debut today with Exicom and Platinum listing at a premium of 87% and 33%.
Markets were also lackluster ahead of key US economy data like US Service PMI to be released today," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. On the outlook for the Nifty 50 today, Rupak De, Senior Technical Analyst, LKP Securities, "Bulls and bears experienced another day of minor clashes without arriving at a definitive outcome. The sentiment remains positive, with the index staying above the short-term moving average.
The momentum indicator RSI is showing a bullish crossover. For a potential rally towards 22600 and beyond, Nifty needs to decisively breach the 21400 level. On the downside, support is positioned at 22200." On the outlook for the Bank Nifty today, Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, “The Bank
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