Mumbai: Indian equity markets ended higher on February 23, supported by steady buying across key sectors. Both benchmark indices closed in the green, reflecting positive investor sentiment during the session.
Strong Closing For Benchmark Indices
The BSE Sensex closed at 83,294.66, up 479.95 points (0.58%). During the day, the index touched a high of 83,486.15 and a low of 82,906.83. The previous close was 82,814.71.
The NSE Nifty 50 settled at 25,713.00, gaining 141.75 points (0.55%). It moved between a high of 25,771.45 and a low of 25,609.35 during the session. The previous close stood at 25,571.25.
Both indices remained positive through most of the trading session, with buying interest picking up in the afternoon trade.
What Drove The Market Higher?
The steady rise suggests continued investor confidence. Traders appeared comfortable with current market levels, as the indices held above key psychological marks — 83,000 for Sensex and 25,700 for Nifty.
Markets also showed resilience despite intraday volatility. After some fluctuations in the morning and early afternoon, buying momentum strengthened towards the closing hours.
Broader Market Picture
The Nifty remains below its 52-week high of 26,373.20, while the Sensex is below its 52-week high of 86,159.02. However, both indices are trading comfortably above their 52-week lows, indicating overall market strength in the longer term.
The consistent upward movement in benchmark indices reflects stable domestic participation and improving sentiment among investors.
What Investors Should Watch?
While markets ended higher, investors should keep an eye on global cues, economic data and corporate updates in the coming days. Short-term volatility may continue, but the overall trend remains steady.
For now, the market tone appears positive, with benchmarks maintaining strong levels and closing near the day’s higher range.
According to Shrikant Chouhan of Kotak Securities, the market stayed range-bound after a strong opening. Immediate support lies near the 20-day SMA at 25,600 (Nifty) and 83,000 (Sensex). Resistance is seen at 25,800 and 83,600. A breakout above these levels could push indices higher, while a fall below support may weaken sentiment.
