Stock Market Starts Strong as Trump Promises 'Fantastic Trade Deals' for India and the US
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Synopsis
On February 14, the Indian stock market opened positively, driven by the announcement of significant trade agreements between Prime Minister Modi and President Trump. The Sensex and Nifty indices both experienced gains, indicating a promising start to the trading day.
Key Takeaways
- The Sensex rose by 279.95 points, reaching 76,418.92.
- Nifty climbed by 84 points, standing at 23,115.40.
- Buying on dips is advised if Nifty holds above 22,780.
- FIIs sold Rs 2,789.91 crore worth of equities.
- Domestic investors bought equities worth Rs 2,934.50 crore.
Mumbai, Feb 14 (NationPress) The Indian benchmark indices began the day on a positive note as Prime Minister Narendra Modi and US President Donald Trump revealed intentions to establish some wonderful trade deals for both India and the US.
The Sensex was up by 279.95 points or 0.37 percent, reaching 76,418.92, while the Nifty increased by 84 points or 0.36 percent to stand at 23,115.40.
The Nifty Bank index gained 196.75 points or 0.40 percent to hit 49,556.60. The Nifty Midcap 100 index saw a rise to 51,014.20 after adding 133 points or 0.26 percent. Conversely, the Nifty Smallcap 100 index fell to 15,953.60, down by 20.25 points or 0.13 percent.
According to Hrishikesh Yedve from Asit C. Mehta Investment Intermediates Ltd., “The Nifty 50 has formed a red candle on the daily scale, indicating selling pressure at higher levels.”
He noted that the 21-Day Simple Moving Average is positioned at 23,270, marking the 23,270–23,300 zone as a significant resistance level. Conversely, 22,780 is identified as a critical support level.
Yedve recommended that traders implement a buy-on-dips strategy while the index holds above 22,780.
In the Sensex group, top gainers included Tata Steel, ICICI Bank, M&M, HCL Tech, Tata Motors, Bajaj Finserv, IndusInd Bank, Axis Bank, Infosys, and Bajaj Finance. In contrast, Sun Pharma, UltraTech Cement, Asian Paints, HDFC Bank, and Kotak Mahindra Bank were the largest decliners.
On the previous trading day, US markets finished positively, with the Dow Jones rising 0.77 percent to close at 44,711.43. The S&P 500 gained 1.04 percent to reach 6,115.07, and the Nasdaq surged 1.50 percent to close at 19,945.64.
Asian markets showed positive trends, with Jakarta, China, Seoul, Bangkok, and Hong Kong trading in the green, whereas Japan was in the red.
Regarding institutional actions, foreign institutional investors (FIIs) continued to sell equities for the seventh day in a row on February 13, offloading equities worth Rs 2,789.91 crore. Domestic institutional investors (DIIs) supported the market by purchasing equities worth Rs 2,934.50 crore on the same day.
Investors will keep a close watch on global market trends, crude oil prices, and institutional flows to assess future market directions, according to Aakash Shah of Choice Broking.
