Nifty hits milestone; Sensex surges above 73,000 at closing bell

Indian benchmark indices continued their upward trajectory, with Nifty breaching the 22,200 mark for the first time and Sensex climbing above 73,000 at the closing bell on February 20. The Sensex surged by 349.24 points, marking a 0.48% increase to reach 73,057.40, while Nifty saw a rise of 74.70 points, or 0.34%, reaching 22,197.00. Market dynamics showed 1661 shares advancing, 1667 declining, and 65 remaining unchanged, with notable gainers including Power Grid Corporation, HDFC Bank, Axis Bank, NTPC, and Kotak Mahindra Bank.

Sector-wise, gains were observed in bank, media, power, and realty sectors, each showing increases ranging from 0.8% to 2%, while auto, IT, and metal sectors witnessed marginal declines of nearly 1% each. The small-cap segment saw a 0.2% rise, indicating domestic market resilience, while mid-caps remained relatively unchanged, outperforming the benchmarks. Analysts predict potential consolidation in the market following the recent rally, with Deepak Jasani, head of retail research at HDFC Securities, suggesting cautious optimism amidst the ongoing momentum.