Taking Stock: Market bounces back as financials rally; Nifty above 22,600, Sensex up 941 pts
The BSE midcap index was up 0.8 percent and the smallcap index ended flat.
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The BSE midcap index was up 0.8 percent and the smallcap index ended flat.
At least 53 smallcaps from the pack of 250 smallcap index constituents have gained more than 10 percent since March 13, and as many as 113 stocks have recovered more than 5 percent
The blue-chip index NSE Nifty50 added 0.14% to 21,983, while the BSE Sensex gained 0.27% to 72,500. Both the benchmarks gained about 1% in February. In a volatile trading session on monthly derivative expiry, Nifty ended 32 points higher just above the 21-day Exponential Moving Average (21EMA). However, the prevailing sentiment appears somewhat negative from the current level.
In a bustling session, Nifty closed around 22,200 defending the previous session's low at 22,075 and, prompted a rebound to regain the initial lost ground, said Rajesh Bhosale, Technical Analyst, Angel One. The sentiment remained bullish throughout the day as intraday dips were met with buying interest, Bhosale added.
The blue-chip NSE Nifty 50 index declined 0.99% to 21,522 points and the S&P BSE Sensex fell 1.11% to 71,140. Both the benchmarks had risen about 1.8% on Monday to log their best session in eight weeks.