City
Epaper

Nifty slides on profit booking at higher levels

By IANS | Updated: February 21, 2024 17:00 IST

Mumbai, Feb 21 After making a fresh high, Nifty erased its gains in the last hour and closed ...

Open in App

Mumbai, Feb 21 After making a fresh high, Nifty erased its gains in the last hour and closed with a loss of 142 points at 22,055 levels on Wednesday, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.

While the Nifty closed at 22,055.05, down 0.64 per cent, the Sensex ended lower by 434.31 points or 0.59 per cent at 72,623.09.

Barring metals, PSU bank, and realty, all sectors ended in red. The realty sector was in the limelight amid strong demand and rising prices.

The markets turned cautious ahead of the release of US Fed meeting minutes and key earnings from chip-maker giant Nvidia, Khemka said.

Investors will look out for any cues about the potential trajectory of US interest rates from the meeting minutes.

Further, after gaining for six consecutive days, Nifty saw some profit booking at higher levels, he said.

However, the overall structure remains positively supported by strong buying by Domestic Institutional Investors (DIIs). Some of the other key events to watch out for are Europe inflation data, RBI meeting minutes and US' existing home sales data.

Vaibhav Vidwani, Research Analyst at Bonanza Portfolio, said that at close on Wednesday, Nifty Realty and Nifty PSU Bank were the sectors which outperform, up by 2 per cent and 0.60 per cent, respectively.

On the Nifty, Tata Steel, SBI, JSW Steel, Tata Consumer Products, and IndusInd Bank were the top gainers, while the biggest losses were BPCL, Coal India, Hero MotoCorp, Power Grid Corp, and NTPC.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

Other SportsNot fully satisfied with my bowling, I'll look to improve: Kamboj

NationalSchool building collapses in Raj's Jhalawar, many students feared trapped

InternationalIndian Embassy in Thailand issues travel advisory amid tensions at Thai-Cambodia border

International'Transformative impact of India-UK CETA', PM Modi lauds landmark trade deal

TechnologyStock market opens lower, auto and metal stocks lead losses

Business Realted Stories

BusinessStock market opens lower, auto and metal stocks lead losses

BusinessShip turnaround time at Indian ports now less than 1 day: Minister

BusinessHyundai Mobis Q2 net profit slips 6.3 pc on lower equity gains

BusinessIndia's recent trade deals with UAE, Switzerland, and now UK marks policy shift: GTRI

BusinessNo threat to Indian MSMEs from allowing UK companies in Govt procurement: Sunil Mittal