HomeMarketNifty closes at all-time high, up for fifth straight session

Nifty closes at all-time high, up for fifth straight session

Mumbai, Feb 19 (IANS) Nifty ended higher for the fifth straight session on Monday after hitting an all-time high on the intra-day charts, said Deepak Jasani, Head of Retail Research at HDFC Securities.

At close, Nifty was up 0.37 per cent or 81.6 points at 22,122.25, its all-time high. Cash market volumes on the NSE fell to Rs 0.95 lakh crore, lowest since January 20, 2024, he said.

The smallcap index rose more than the Nifty even as the advance decline ratio remained high at 1.55:1. Trading activity was concentrated in PSU and bank stocks.

Asian shares were mixed on Monday as fading chances for early rate cuts globally soured the mood and Chinese markets returned from holiday with only muted gains. European stocks paused back as investors awaited fresh catalysts after last week’s push close to a record high.

US markets are shut on Monday for the Presidents’ Day holiday.

India’s power consumption increased 7.5 on-year to 1,354.97 billion units in the April-January period of this financial year, indicating an uptick in economic activities across the country. Power consumption in January rose 5.4 per cent to 133.18 BU, he said.

The markets could now correct/consolidate for some time before Nifty prepares for the next upmove. It could face resistance from 22,187 while 21,954 could offer support in the near term, he said.

Narender Singh, founder of Growth Investing, said that Nifty 50 again touched an all-time high on Monday, demonstrating the robustness of the Indian stock market.

Noteworthy top performers on Monday included Nifty consumer durables and Nifty pharma, reflecting strong momentum in the consumer-focused sectors.

Conversely, weakness was seen in previous sectors which had been leaders in the last leg of bull run — PSU bank, Nifty IT, and Nifty realty — and were among the bottom performers.

–IANS

san/arm

Disclaimer

The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

For any legal details or query please visit original source link given with news or click on Go to Source.

Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.

If you are not willing to accept this disclaimer then we recommend reading news post in its original language.

RELATED ARTICLES
- Advertisment -

Most Popular