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Indian equity markets end the day in Green

14 Feb 2023 , 04:00 PM

Higher inflation rate in January resulted in strengthening of the expectation that RBI will continue its current monetary policy stance. This in turn saw gains for banking stocks today. Banks tend to benefit from higher interest rates. 

Indian equity markets ended the day strongly in the green. Markets also followed the strongly positive overnight cues from US equity markets.  Nifty 50 ended, up by 158.95 points. Sensex ended, up by 600.42 points. Top Gainers today were UPL, ITC and Reliance. Top Losers today were Apollo Hospitals, Eicher Motors, and SBI Life. 

Strong buying demand was seen in many large cap stocks. Selling pressure was seen in many mid-cap and small-cap stocks. Strong buying demand was seen in stocks of banks. This buying demand was probably based on the expectation that RBI will maintain its interest rate hikes, after the higher inflation rate in January. Strong buying demand was also seen in FMCG and IT stocks. 

Zomato, Yes Bank, and JP Power were the most active stocks today at NSE in terms of trading volume. Adani Enterprises, Reliance and ICICI Bank were the most active stocks today at NSE in terms of value. 29 stocks touched new 52-week high today at NSE. 152 stocks touched new-52-week low today. The breadth of the market was strongly negative today. 

 

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