RAVI RANJAN PRASAD
MUMBALI, FEB. 23
Sensex and Nifty-50 closed flat on profit booking after Nifty-50 made fresh all time high of 22,297.50 intraday, for the fifth consecutive session this week. The Nifty-50 index closed at 22,212 down by 4.75 points or 0.02 per cent after hitting 22,297.50 as the domestic market opened higher on rally in US market post chip making giant Nvidia shares gained 15 per cent on strong fourth quarter earnings. The Sensex closed at 73,142.80 down by 0.02 per cent after hitting intraday high of 73,413.93. Foreign portfolio investors and domestic institutions both were net buyers of equities worth 1,276.09 crore and Rs 176.68 crore respectively. Market rally was fuelled by the uptrend in global markets, which was boosted by record highs in Japanese, US and European markets, said analysts. BSE's market capitalisation new high of over %393.04 lakh crore or over $ 4.74 trillion and could hit $4.75 trillion soon, as early as next week. Market saw profit taking after trading in a narrow range before the weekend on high valuation. On a weekly basis, Nifty rose 0.78 per cent. “The domestic market paused after reaching another record high, driven by positive signals from global markets. Notably, the capital goods and industrial sectors showed strength, supported by advancements in manufacturing and services. The stock market is awaiting new catalysts. Concerns linger over rising crude oil prices, surging US bond yields, and stretched valuations,” said Vinod Nair, head research, Geojit Financial Services.
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