The Nifty50 index ended flat at 15,313.45 points, while the BSE-Sensex closed at 52,104.17, down 0.1 per cent.
While largecap stocks saw some profit booking, the broader market continued its rally from Monday with the Nifty Midcap 100 index hitting a record high. The Nifty Smallcap 100 and Nifty Midcap 100 index ended 0.1 per cent and 0.4 per cent higher for the day.
Here are the major movers in today’s session:
PSBs rally on privatisation buzz
Shares of Bank of India, Bank of Maharashtra and Central Bank of India ended 20 per cent higher each after a Reuters report said that the these banks were in the government’s shortlist for privatisation in the coming financial year.
ONGC soars as oil simmers
Shares of the state-owned oil producer surged 5 per cent as global crude oil prices surged in anticipation of shortage in global crude oil supplies due to the temporary closure of oil rigs in Texas following an extreme winter.
Metal stocks jump with global prices
Nifty Metal index surged 2.9 per cent despite the weakness in the broader market as global base metal prices rose on decline in the US dollar. The gains in the sectoral index were led by Tata Steel, Hindalco Industries, Jindal Steel & Power, Steel Authority of India and National Aluminium Co, which rose 3-8 per cent.
Private banks see profit booking
The rip-roaring rally in shares of private banks came to a halt as investors chose to book profits given the hefty gains so far in February. The Nifty Private Bank index closed 0.5 per cent lower led by losses in Axis Bank and ICICI Bank.
Graphite stocks see big gains
Shares of HEG and Graphite India posted 17 per cent and 11 per cent gains, respectively, on the perception that surging domestic steel demand will increase demand for graphite electrodes going ahead.
What gave sell signal?
As many as 31 stocks listed on the National Stock Exchange gave a sell signal based on MACD indicators including Apollo Tyres, MSTC, Colgate Palmolive India, IndiaMART Intermesh.
What’s ahead for the market?
Positioning by traders in the options segment of the Nifty 50 suggested that they still expect the index to move higher towards 15,700 level, although, upside beyond that level appears to be limited.
“Markets are rewarding handsomely to those who are spending time on the selection of stocks and we expect this trend to continue. Also, we’re seeing buying interest across the board but on a rotational basis,” said Ajit Mishra, vice president of research at Religare Broking.
