Share Market Pre Open Updates – February 06, 2024

The Indian stock market witnessed selling pressure and closed lower on February 05, 2024. The benchmark indices, Nifty 50, closed at 21,771  with a fall of 0.38%, and Sensex went down by 0.49% to 71,731. On February 05, 2024, FIIs bought securities worth ₹518 crore, while DIIs bought securities of ₹1,188 crore. As per experts, 21,640 – 21,700 could act as support levels, while 21,960 – 22,200 level may act as resistance.

Top Gainers and Losers

IOC, Tata Motors, LIC and Coal India were on the list of top gainers. UPL, Shree Cement, Trent and Bajaj Finance were the top losers. Nifty Pharma, Nifty Healthcare, Nifty Oil & Gas and Nifty Auto settled in green, while Nifty Consumer Durables, Nifty FMCG, Nifty Financial Services 25/50 and Nifty Financial Services closed in red.

Stocks In The News

Cochin Shipyard and KPI Green Energy were in the news on February 05, 2024.

• Despite signing an upgrading contract for two naval ships with the Indian Navy, the share price of Cochin Shipyard dropped 2% and settled at ₹894.
• KPI Green Energy received a 15 MW solar power project order from Aether Industries. As a result, the share price of KPI Green rallied 5% and closed at ₹2,193. 

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.