Stock market: The Indian Equity Equity Index closed firmly on 4 February. The Nifty managed to close above 23,700. At the end of the trading session, the Sensex rose by 1,397.07 points or 1.81 per cent to 78,583.81 and the Nifty increased by 378.20 points or 1.62 per cent to close at 23,739.25. Today, about 2426 shares saw an increase. 1349 shares declined and there was no change in 144 shares.
All other sectoral index closed at the edge except FMCG on the sectoral front. The Nifty PSU Bank, Infra, Energy and Oil and Gas Index closed with a 2–2 per cent gain in green mark. The Nifty Midcap index gained 1.6 per cent. At the same time, the smallcap index recorded a rise of 1 percent.
The most growing shares on the Nifty include Shriram Finance, L&T, Adani Ports, Bharat Electronics and IndusInd Bank. While the shares in the loss included Trent, Britannia Industries, Hero MotoCorp, Nestle India and Eicher Motors.
Aditya Gaggar director of progressive shares Says that after strong global trends, the Nifty made a positive start and maintained an edge throughout the day. At the end of the trading, it closed at 23,739.25 with a gain of 378.20 points, which is also the highest level of the day. All sector index except FMCG have closed with an edge. Among them, PSU bank and energy were at the forefront. The broad market also accelerated. Mid and Smallcap saw 1.56 per cent and 1.09 per cent. The Nifty created a strong bullish pattern crossing the important level of 23,500. This level will now serve as a support. This fast may continue even further. But the registration may be faced at the level of 24,000 Nifty.
Amish Shah, a research analyst of Taurus Corporate Advisory Services As long as there is no other statement that brings volatility from Trump, there should be stability in the market. At the moment, the global equity markets are seeing instability due to Trump’s inconsistent statements. If the issue of tariff is resolved, the direction of the market will depend on corporate earnings.
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Speaking on the technical aspects of the market, Santosh Meena, senior research analyst of Swastika Investmart Said that the good thing is that after the initial decline in the last trading session, the Nifty and the bank Nifty managed to preserve the support levels like important moving average and 20-day and 50-day moving average. It is expected that the Nifty in the short term may appear to be 23,800 and then to 24,000.
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