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INDIAN EQUITY MARKET ENDED AT RECORD HIGH;SENSEX AND NIFTY GAINED NEARLY 1% EACH

Domestic Equity Market has shown a positive sign and ended at a record high level led by strong gains in banking and financial stocks amid positive global cues. Net buying of FII/FPI was at Rs. 1,234.15 crore while net selling of DII was at Rs.1,048.55 crore. The Sensex gained 609.83 points, or 1.18 per cent, to close at 52,154.13 with shares like Axis Bank, ICICI Bank, Bajaj Finance, SBI, IndusInd Bank, HDFC, Bajaj Finserv were the top gainers with a gain of 5.88%, 4.09%, 3.66%, 3.52%, 2.98%, 2.47%, 2.29% respectively while shares of Dr Reddy, TCS, Tech Mahindra, HUL, Asian Paint, Titan were the losers with a loss of 1.77%, 1.60%, 1.19%, 1.16%, 1.14%, 0.70% respectively. The Nifty ended at 15,314.70, up 151.40 points, or 1.00 per cent with indexes like Bank, Realty, Auto, FMCG .indexes were having gains of 3.32%, 1.50%, 0.40%, 0.09% respectively while Metal ,IT, Pharma, Media ,Energy Indexes were having loss of 0.47%, 0.36%, 0.32%, 0.31%, 0.22% respectively.

TOP STOCKS IN NEWS:

Axis Bank jumped over 5% as the bank index gained over 3%.Bank stocks have edged higher since February 1 after the Budget announced a further recapitalisation of Rs 20,000 crore in FY22E to support the PSU banks.

ICICI Bank surged over 4% as the bank is offering extra interest rates over the existing rates on fixed deposits (FD) applicable for senior citizens.

SBI gained over 3% as Asset quality trends for SBI in 9M of FY21 seem better than most private sector banks due to relatively low share of retail unsecured exposures.





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