X

Market recap for 19 February 2021

Nifty50: 14,981 137 (-0.9%)

Sensex: 50,889 434 (-0.8%)


The markets showed weakness right from the opening. Although the Nifty50 breached into the green momentarily, it succumbed to selling pressure towards the end of the session, pulling 38 of the benchmark index’s components into the red.

All Nifty sectoral indices closed in the red. Today also put a stop to the Nifty PSU Bank index’s frenetic sprint. In fact, it was the top loser among the sectoral indices, ceding 4.7%. It was followed by the Nifty Auto index (-2.6%).

Top gainers Today's change
UPL ▲ 2.5%
Dr Reddy's ▲ 2.3%
IndusInd ▲ 2.2%

Top losers Today's change
ONGC ▼ 5.0%
Tata Steel ▼ 4.0%
Hero Motocorp ▼ 3.7%

Here are the top stories of the day.

RIL plans to demerge O2C business

IDFC First Bank to raise ₹3,000 crore

Dr Reddy’s gets vaccine ready

Trent catches momentum after Q3 results

Profit booking seen in PSU bank shares

Closing bell

The markets closed in the red for four consecutive sessions, resulting in a drop of 1.2% in the Nifty50 on a weekly basis. The index performance was weighed down by fall in the IT (-2.2%), FMCG (-1.7%) and Pharma (-3.4%) indices this week.

Next week will witness the expiry of the February derivatives contracts on Thursday, while the GDP figures will be announced on Friday. This week’s counter-trend movement and the abovementioned events are likely to keep the volatility high. Traders need to be nimble in order to not get caught on the wrong foot.


Good to know

What is day trading?
Day trading is the practice of buying and selling a stock, commodity, or any security within a single trading day. Say, you buy a stock for ₹100 and sell it on the same day (before market closing), when the price climbs to ₹105.


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Disclosures and Disclaimer

Investment in securities markets are subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.

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