Indian Stock Market Report - February 23

The Indian stock market ended with healthy gains on February 23, amid mixed global cues. Key highlights from the market include:

Market Performance

• BSE Sensex: Closed at 83,294.66, rising 480 points (0.58%)
• Nifty 50: Closed at 25,713, up 142 points (0.55%)
• BSE 150 MidCap Index: Fell 0.21%
• BSE 250 SmallCap Index: Jumped 0.51%

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Market Capitalization

• The overall market capitalisation of BSE-listed firms rose to ₹469 lakh crore from ₹467 lakh crore in the previous session, making investors richer by about ₹2 lakh crore in a single session.

Sectoral Performance

• Banks: Gained traction on expectations of resilient demand and economic recovery
• Power: Gained due to healthy demand and economic recovery
• Pharma: Gained due to expectations of resilient demand and economic recovery
• FMCG: Gained due to expectations of resilient demand and economic recovery

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Top Gainers and Losers

• Top Nifty 50 gainers: Adani Ports (up 2.93%), Kotak Mahindra Bank (up 2.22%), and HDFC Life Insurance Company (up 1.89%)
• Top Nifty 50 losers: Hindalco Industries (down 2.08%), Wipro (down 1.89%), and Infosys (down 1.90%)

Sectoral Indices

• Nifty PSU Bank: Up 1.36%
• Financial Services: Up 0.87%
• Auto: Up 0.83%
• FMCG: Up 0.70%
• Nifty IT: Down 1.42%
• Metal: Down 0.23%
• Realty: Down 0.19%

Most Active Counters

• IDFC First Bank: 62 crore shares
• Vodafone Idea: 38.6 crore shares
• Tata Silver Exchange Traded Fund: 27.1 crore shares

Technical Outlook

• Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities: The zone of 25,800-25,830 will act as an immediate hurdle for the Nifty 50.
• Shrikant Chouhan, Head of Equity Research, Kotak Securities: The 20-day SMA or 25,600 will act as an immediate reference point for day traders.