Sensex, Nifty witness volatile trends in early trade
PTI, Feb 22, 2024, 10:16 AM IST
Equity benchmark indices Sensex and Nifty witnessed a volatile movement in early trade on Thursday, amid mixed trends in the global markets. After opening on a sluggish note, Sensex turned positive and rose 7.58 points or 0.01 per cent to 72,630.67 points. But the 30-share benchmark soon reversed the momentum and fell sharply by 381.94 points or 0.53 per cent to 72,241.15 points.
The broader Nifty also showed some resistance initially but gave in to the selling pressure and declined 148.40 points or 0.67 per cent to 21,906.65 points. Deepak Jasani, Head of Retail Research at HDFC Securities, said Asian equities on Thursday rose in a sign of fresh momentum in global equities after Nvidia Corp unveiled a better-than-expected revenue forecast.
Nvidia Corp’s solid results and outlook bolstered confidence in the artificial intelligence frenzy that has powered the stock market resurgence, he added.
On Wednesday, US stocks finished mostly higher while European shares ended on a mixed note.
Minutes of the US Federal Reserve’s January meeting showed most policymakers were concerned about the risks of cutting interest rates early.
On Wednesday, Sensex and Nifty snapped their six-day winning streak. While Sensex fell 434.31 points to close at 72,623.09 points, Nifty declined 141.90 points to end the day at 22,055.05 points.
Foreign Institutional Investors (FIIs) were net buyers on Wednesday as they purchased securities worth Rs 284.66 crore.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Corporate earnings, US Fed interest rate decision to drive markets in holiday-shortened week: Analysts
Pune court asks police to probe bribery allegations against IT major Cognizant
Patanjali Foods to evaluate proposal to buy Patanjali Ayurved’s non-food business
Nifty, Sensex rally for 6th day running on firm Asian peers; Tech Mahindra jumps over 12%
IndiGo, Air India plan to purchase up to 170 wide-body planes in little over a year
MUST WATCH
Latest Additions
Modi accuses Congress of Double Standards in historical narrative
Cab driver, 2 others injured as speeding Jaguar hits three vehicles in Delhi
AAP’s song on Lok Sabha poll stirs controversy, EC asks it to change lyrics
Cong stages protest, demands arrest of Hassan MP Prajwal Revanna over alleged sex scandal
Study predicts accelerated warming of Indian ocean with catastrophic consequences