Sensex, Nifty Rebound on February 20, 2024; Stocks to Watch
The Indian benchmark indices, Sensex and Nifty, rebounded from a weak start to close higher for the sixth consecutive session, driven by financials. The Nifty 50 hit a record high for the second consecutive day. The Sensex rose 349.24 points, or 0.48%, to 73,057.4, while the Nifty 50 gained 74.70 points, or 0.34%, to 22,196.95. Despite an initial 0.2% dip, the indexes extended their longest winning streak in 10 weeks. Small- and mid-cap stocks underperformed, with a 0.53% and 0.13% decline, respectively. Volatility remained elevated around a 10-month high. Financials, the heaviest sector, surged 1.23%, led by HDFC Bank, up 2.63%, following positive analyst recommendations. IT stocks fell 0.87%, and auto stocks dropped 0.62%. Zee Entertainment rose 8% on reports of a merger revival with Sony's India unit. Vibhor Steel Tubes recorded a 192% gain on its listing day, soaring to ₹442 per share compared to its issue price of ₹151.
Stock Market Live on February 20, 2024: Sensex, Nifty Rebound, Stocks to Watch
Overview:
On February 20, 2024, the Indian benchmark indices rebounded from a weak start to close higher for the sixth consecutive session, driven by financials. The Nifty 50 hit a record high for the second consecutive day. The Sensex rose 349.24 points, or 0.48%, to 73,057.4, while the Nifty 50 gained 74.70 points, or 0.34%, to 22,196.95. Despite an initial 0.2% dip, the indexes extended their longest winning streak in 10 weeks. Small- and mid-cap stocks underperformed, with a 0.53% and 0.13% decline, respectively. Volatility remained elevated around a 10-month high. Financials, the heaviest sector, surged 1.23%, led by HDFC Bank, up 2.63%, following positive analyst recommendations. IT stocks fell 0.87%, and auto stocks dropped 0.62%. Zee Entertainment rose 8% on reports of a merger revival with Sony's India unit. Vibhor Steel Tubes recorded a 192% gain on its listing day, soaring to ₹442 per share compared to its issue price of ₹151.
Stock Market Updates:
Oriental Green Power Limited's shares fell 2.43% to ₹24.85 on the BSE. Edelweiss (Plaintiff) has withdrawn from the suit filed against Orient. More than 3.13 crore shares worth ₹4,090 crore of Whirlpool of India were sold on the BSE in the afternoon trade, a PTI report said. The company's shares were trading at ₹1,303.10 apiece, down 2.08 per cent from the previous close. The stock had touched its 52-week