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Sensex, Nifty Recoup Losses; Banking & Finance Stocks Lead
Mon, 21 Feb 12:30 pm

After opening the day deep in the red, share markets in India have recovered most of the losses and are presently trading higher.

Benchmark BSE Sensex recovered more than 650 points from the day's low on hopes of peace talks between Russia and US.

Ukrainian President Volodymyr Zelenskyy on Saturday called for Russian President Vladimir Putin to meet him and seek resolution to the crisis, as per reports.

But still, there's no clear decision on Russia-Ukraine tensions and monetary tightening by the Fed expected from March, which kept investors on edge.

Also, a rise in crude oil prices combined with Reserve Bank of India's (RBI) inflation predictions are on top of investors' minds.

Currently, the BSE Sensex is trading up by 187 points, up 0.3%, at 58,000 levels.

Meanwhile, the NSE Nifty rose above the 17,300-mark and is trading up by 41 points.

IndusInd Bank and ICICI Bank are among the top gainers today. TCS and Sun Pharma, on the other hand are the top losers.

Broader markets have also recovered some of their losses. The BSE Smallcap index is still down 0.9% after falling as much as 2% in early trade. While the BSE Midcap index is up 0.2%.

On the sectoral front, banking stocks and finance stocks are leading the rally while oil & gas and healthcare stocks are worst hit.

Among individual stocks, Ujjivan Financial Services share price and Ujjivan SFB hit their respective 52-week lows after the exit of multiple board members and management executives in recent days.

Meanwhile, shares of InterGlobe Aviation (IndiGo) have recovered after falling 4% after one of its promoter and co-founder Rakesh Gangwal stepped down from the airline's board.

Tata Consultancy Services (TCS) share price is in focus ahead of ex-date for its share buyback tomorrow, 22 February 2022.

The company has fixed 23 February 2022 as the record date for share buyback.

In his latest video for Fast Profits Daily, India's #1 trader Vijay Bhambwani discusses which precious metal should you prefer - gold or silver?

More details to follow in the upcoming commentary.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


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