Market News
2 min read | Updated on February 19, 2024, 17:27 IST
SUMMARY
The NIFTY50 formed a spinning top candlestick pattern on the daily chart. The pattern signifies indecision among investors. However, it's important to note that this pattern can also indicate potential reversal or continuation in either direction after the next day's close, especially after a period of uptrend or downtrend.
The NIFTY50 scaled a new all-time high of 22,186.
Markets extended the winning streak for the fifth-day in a row and closed higher on Monday. The NIFTY advanced 0.3% to 22,122 and the SENSEX gained 0.3% and ended the session at 72,708.
The NIFTY50 scaled a new all-time high of 22,186, aided by gains in ICICI Bank (+2.0%), Reliance (+0.9%), Bharti Airtel (+1.9%) and ITC (+1.1%). Sector-wise, NIFTY Pharma (+0.8%) and FMCG (+0.7%) were the top gainers, while IT (-0.3%) and PSU Banks (-0.4%) were the laggards.
Meanwhile, the NIFTY50 formed a spinning top candlestick pattern on the daily chart. The pattern signifies indecision among investors. However, it's important to note that this pattern can also indicate potential reversal or continuation in either direction after the next day's close, especially after a period of uptrend or downtrend.
👎Coal India slips 4% after the company’s chairman said that it is likely to miss the production target of 780 MT for FY24.
🔥Crisil jumped over 9% after the company's Q3 net profit jumped 33% YoY to ₹210 crore, helped by increase in revenues.
⚡Power Grid (+0.6%) approved investments up to ₹656 crore for two transmission projects.
💡Tata Power (+1.4%) received the go-ahead from REC Ltd's subsidiary to acquire the Jalpura Khurja power project for ₹838 crore.
📉Open = High (Bear power): Wipro, HDFC Life, Max Healthcare, Lupin and Oberoi Realty.
📈Open = Low (Bull power): ICICI Bank, Avenue Supermarts (D-Mart), Mazagon Dock Shipbuilders and Dalmia Bharat.
🏗️Top five fresh 52 week-high: Dixon, Bajaj-Auto, Cipla, Maruti Suzuki, Dr. Reddy’s and Adani Enterprises.
⚠️Fresh 52 week-low: N/A.
⬆️Gap-up open: PB Fintech (Policy Bazaar) and Tata Elxsi.
⬇️Gap-down open: N/A.
See you tomorrow!
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