Indian markets close higher for the third consecutive day
Upstox
1 min read • Updated: February 15, 2024, 5:17 PM
Summary
Mahindra & Mahindra, Power Grid and BPCL were the top gainers. On the other hand, Axis Bank, Apollo Hospitals and ITC were the top losers. On the sectoral front, PSU Bank (+3.2%) and Oil & Gas (+2.4%) were the top gainers, while FMCG (-0.9%) and Media (-0.1%) were the top losers.
After a subdued opening, India’s benchmark indices – NIFTY50 (+0.4%) and SENSEX (+0.3%) – moved upwards and closed higher for the third consecutive day. The market breadth was almost evenly split. Out of the NIFTY50 space, 26 stocks advanced.
Mahindra & Mahindra, Power Grid and BPCL were the top gainers. On the other hand, Axis Bank, Apollo Hospitals and ITC were the top losers. On the sectoral front, PSU Bank (+3.2%) and Oil & Gas (+2.4%) were the top gainers, while FMCG (-0.9%) and Media (-0.1%) were the top losers.
Gains in HDFC Bank, M&M and State Bank of India propelled the markets higher. The broader markets also made gains and outperformed the benchmark indices. NIFTY Midcap 100 and NIFTY Small Cap 100 gained more than 1% each.
Meanwhile, shares of power companies were witnessing strong buying traction today. Tata Power, NHPC, Power Grid and Torrent Power are up in the range of 1% to 8% today. This comes on the back of expectation of strong demand for power in 2024. Experts point out that the demand for power is rising in India and supply constraints are becoming complex.