NIFTY50 and SENSEX close higher, Adani Group stocks gain traction; Stock Market Highlights

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The NIFTY Financial Services (+0.3%) index closed higher today, with REC and Shriram Finance being the top gainers.

The BANK NIFTY (+0.3%) index closed higher. Gains in ICICI Bank, IndusInd Bank and Federal Bank propelled the index higher.

Benchmark indices – NIFTY50 (+0.3%) and SENSEX (+0.2%) – closed higher today.

The market breadth was strong today. Out of the NIFTY50 universe, 32 stocks advanced. And, India VIX, which is a measure of volatility in the domestic markets, declined around 5%.

On the sectoral front, PSU Bank (+1.7%) and Metal (+1.4%) were the top gainers. On the other hand, Media (-0.7%) and Healthcare (-0.6%) were the sole losers.

The broader markets outperformed the benchmark indices. The NIFTY Smallcap 100 index was up 0.9% today. The NIFTY Midcap Index closed 0.6% higher.

Shares of Zee Entertainment are down more than 1% today.

This comes after Sony formally announced withdrawal of its merger application with Zee Entertainment.

Zee Entertainment’s stock has been under pressure, falling 41% this year.

5 March expiry

• Max Call OI (resistance) : 20,800
• Max Put OI (support) : 20,500
• Max Pain: 20,400
• PCR: 0.7

• Long build up: Mahindra & Mahindra, Adani Ports, Tata Consumer, Adani Enterprises and Maruti

• Short build up: Apollo Hospitals, Eicher Motors, Bharti Airtel, Divis Lab and Hindalco

Shares of the hospitality company are up more than 8% today.

This comes a day after the company listed on the exchanges.

Following a tepid debut, Juniper Hotels’ stock moved upwards on Wednesday and closed 11% compared to the issue price.