Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Friday’s trading session in the positive territory. The NSE Nifty 50 gained 344.50 points or 1.62% to settle at 22,338.75, while the BSE Sensex soared 1245.05 points or 1.72% to 73,745.35. The broader indices ended in positive territory, with gain led by mid-cap and large-cap stocks . Bank Nifty index ended higher by 1166 points or 2.53% to settle at 47,286.90. Metal and Banking stocks outperformed among the other sectoral indices while Media and Pharma stocks shed.
Commenting on the technical outlook Jatin Gedia, a technical research analyst at Sharekhan by BNP Paribas, said that the Nifty opened on a flat note and consolidated for most of the day. It was during the last hour of the trading session that the Nifty witnessed a sharp surge and closed the day well in the green up 32 points. More importantly, the Nifty has held on to the crucial support zone of 21900 – 21850 which coincided with the 20-day moving average and the 50% Fibonacci retracement level of the rise from 21530 – 22249.
“Prices are broadly trading in the range 21800 – 22300 since last nine trading sessions and the momentum setup on the daily and hourly time frame is providing divergent signals which makes a case for the rangebound action to continue. The index is still not out of the woods and it is likely to witness volatile action going ahead. In terms of levels, 21860 – 21800 shall act as a crucial support zone while 22230 – 22250 shall act as an immediate hurdle zone from a short-term perspective,” said Gedia.
Foreign institutional investors (FII) bought shares net worth Rs 3,568.11 crore. While, domestic institutional investors (DII) sold shares net worth Rs 230.21 crore on February 29, 2024, according to the provisional data available on the NSE.
WTI crude prices are trading at $78.49 down by 0.29%, while Brent crude prices are trading at $82.21 down by 0.37%, on Friday morning.
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, traded lower, 0.05% at 104.11.
The equity indices in the US closed in positive territory. The Dow Jones Industrial Average inched up 0.12% to 38,996.39. The tech-heavy Nasdaq Composite advanced 0.90% to close at 16,091.92. While the S&P 500 rose 0.52% to settle at 5,096.27.