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Nifty Bank index rises 2%:
Market Opens: Indian indices opened at fresh record highs with a percent gain on February 8 with Nifty around 15100.
At 09:16 IST, the Sensex was up 529.73 points or 1.04% at 51261.36, and the Nifty was up 157.20 points or 1.05% at 15081.50. About 1123 shares have advanced, 271 shares declined, and 69 shares are unchanged.
Gainers and Losers on the BSE Sensex:
Ajit Mishra, VP – Research, Religare Broking:
As the major events are behind us i.e. the Union budget and monetary policy meet, the focus will shift back to fundamentals as well as global cues. We might see some consolidation in the index early next week, so there’ll be no shortage of trading opportunities on the stock-specific front. Traders should align their positions accordingly and avoid contrarian trades.
DAILY VOICE | Ultratech Cement, L&T, ICICI Bank Among Stocks That Will Benefit From Revival Of CAPEX Cycle: Motilal Oswal ‘s Gautam Duggad
Budget 2021 has created a very conducive top-down backdrop and provided a clear path for growth, says Duggad.
Indian markets are likely to see a gap up opening tracking strong global cues amid upbeat news on the earnings, economic data and updates on vaccination drive. However, global news flows and sector specific developments will be key monitorables. US markets ended higher amid corporates’ quarterly earnings and hopes of additional stimulus.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session.
At 09:02 IST, the Sensex was up 174.88 points or 0.34% at 50,906.51, and the Nifty was up 152.70 points or 1.02% at 15,077.
Kishore Biyani, Future Corporate Resources move Securities Appellate Tribunal against SEBI market ban
Future Group founder and CEO Kishore Biyani, brother Anil Biyani and promoter entity Future Corporate Resources have approached the Securities Appellate Tribunal (SAT) to challenge a Securities and Exchange Board of India (SEBI) order that barred all three parties and other related entities from accessing the securities market for a year, people with knowledge of the matter told Moneycontrol.
“The e-filing of the pleas has been done at SAT and the matter is likely to come up for hearing shortly,” one of the individuals cited above told Moneycontrol on the condition of anonymity.