District Daily News
Buisness

First time after six days of advances, the Nifty hits the 22K mark

<p>Due to purchases in banking and FMCG shares on Tuesday, both the 50-company Nifty and the 30-share Benchmark Sensex saw increases for the sixth day in a row.</p>
<p><img decoding=”async” class=”alignnone wp-image-428015″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-first-time-after-six-days-of-advances-the-nifty-hits-the-22k-mark-2024-2largeimg-1.jpg” alt=”theindiaprint.com first time after six days of advances the nifty hits the 22k mark 2024 2largeimg 1″ width=”1075″ height=”788″ title=”First time after six days of advances, the Nifty hits the 22K mark 9″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-first-time-after-six-days-of-advances-the-nifty-hits-the-22k-mark-2024-2largeimg-1.jpg 660w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-first-time-after-six-days-of-advances-the-nifty-hits-the-22k-mark-2024-2largeimg-1-150×110.jpg 150w” sizes=”(max-width: 1075px) 100vw, 1075px” /></p>
<p>At 73,057.40, the Sensex finished 349.24 points higher, with advances recorded in 18 of its components. On hearing of the PSU’s additional capital injections, Power Grid’s shares surged, and banks that had been under pressure the previous month also benefited. HDFC Bank, Axis Bank, Kotak Bank, IndusInd Bank, and ICICI Bank were a few among them. Nestle and Hindustan Unilever were among the FMCG businesses that benefited. IT equities are still under pressure, meanwhile, as companies including TCS, Tech Mahindra, HCL Tech, Infosys, and Wipro were unable to buck the negative trend.</p>
<p>Tuesday saw a 74.70 point increase in the 50-company Nifty as well, ending the day at a new high of 22,196.95. Although equities had a lackluster start, they rebounded throughout the day, allowing the Nifty to close at a record high for the lifetime. On the other hand, the Nifty has been fluctuating on a high plateau when looking at the full month. As the interim budget’s effects subsided, the Nifty was trading at 21,182.70 points on February 2. Put another way, Nifty has increased by 14 points over the last 18 days. Foreign portfolio investors sold shares worth Rs 754.59 crore, making them net sellers, according to exchange data cited by agencies.</p>
<p><strong>2023 saw a 6-year peak for the IPO tally. </strong></p>
<p>According to statistics from S&P Global Market Intelligence, the number of businesses listed on Indian bourses reached 243 in the year that ended December 31, 2023, marking the highest yearly total in at least six years. However, the lack of big-ticket listings caused the total transaction value of the IPOs in 2023 to drop by more than 9% to $7.10 billion.</p>

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