Closing Bell: Nifty Ends Above 22,100 For The First Time Ever; Sensex 1% Away From Record Levels

The Nifty soared to record highs, closing above the 22,100 mark for the first time ever. The market witnessed a flurry of activity, with the Nifty hitting an intra-day record high of 22,186.70. India's equity market capitalization touched a remarkable high, reaching Rs 392 lakh crore.

While the Nifty celebrated a groundbreaking achievement, the Sensex and Midcap Index remain merely 1% away from their record levels. This suggests a broader positive sentiment across various segments of the market.

Although the Nifty Bank is still 4% away from the record high set in December 2023, the index made significant gains, closing up 151 points at 46,536.

Key contributors to Nifty's success were prominent stocks like ICICI, RIL, Bharti, and ITC, which lifted the index. On the flip side, L&T, Coal India, and TCS faced declines, contributing to a mixed bag of performances among blue-chip stocks. More than 30 Nifty stocks closed higher, with Grasim, ICICI, and Bajaj emerging as the top gainers.

The Sensex rose 282 points to 72,708, while the Nifty gained 82 points, closing at 22,122. Nifty Bank and Midcap Index also experienced positive momentum, closing up 151 and 179 points, respectively, marking an overall bullish trend.

Except for the IT sector, all other sectoral indices closed in the green. This performance across sectors indicates a broad-based rally. However, the volatility index saw a 5% rise.

L&T faced a setback in an otherwise strong session due to reports of Aramco deferring Safaniyah Oilfield bids. On the other hand, Coal India witnessed a sharp fall as e-auction premiums plummeted to 45% in Q4 from 117% in Q3.

MCX emerged as one of the top midcap gainers following a positive brokerage note. Dixon surged by 5% on reports of Chinese company BBK being in talks for phone manufacturing.

Bajaj Auto continued its upward trajectory, moving higher ahead of the buyback record date set for February 29. Balrampur Chini's foray into Polylactic Acid manufacturing boosted market sentiment, with the stock witnessing a 4% increase.

Market breadth favored advances, with an advance-decline ratio standing at 3:2. This ratio reflects a healthy mix of growing and declining stocks, underlining the overall positive market sentiment.