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Market trades with decent gains
Feb 24 2021 4:14PM
Key equity indices were trading with decent gains in the extended trading session. Trading resumed at 15:45 IST on the NSE. Banks shares were in demand. 

At 15:47 IST, the barometer index, the S&P BSE Sensex, jumped 332.42 points or 0.67% to 50,083.83. The Nifty 50 index added 56.40 points or 0.38% to 14,764.20. 

In the broader market, the S&P BSE Mid-Cap index rose 0.31%. The S&P BSE Small-Cap index gained 0.58%. 

The market breadth was strong. On the BSE, 1782 shares rose and 1124 shares fell. A total of 165 shares were unchanged. 

NSE Update: 

The NSE and the BSE have extended trading hours till 5:00 PM today. Trading was halted on the NSE today morning due to a technical glitch. 

Meanwhile, all the segments on the BSE were operating as usual on Wednesday, 24 February 2021. 

Buzzing Index: 

The Nifty Bank index rose 1.62% to 35,686.40. The index had declined by 5.9% in the past six sessions. 

Federal Bank (up 2.65%), Bank of Baroda (up 2.30%), HDFC Bank (up 2.05%), Bandhan Bank (up 1.95%), Axis Bank (up 1.89%), SBI (up 1.77%), Punjab National Bank (up 1.34%), IDFC First Bank (up 1.30%), IndusInd Bank (up 1.27%), ICICI Bank (up 1.08%) and RBL Bank (up 0.93%) advanced while Kotak Mahindra Bank declined 0.36%. 

Global Markets: 

European stocks bounced back while Asian stocks ended lower on Wednesday as investors digest remarks from U.S. Federal Reserve Chair Jerome Powell on Tuesday, as he attempted to ease some worries around higher interest rates and inflation. 

Wall Street reversed course late Tuesday, with the S&P 500 and the Dow whipsawing to positive territory by the closing bell in a tug-of-war between stocks that thrived amid lockdowns and those that stand to benefit most from a reopening economy. 

Powell indicated that the Federal Open Market Committee (FOMC) was nowhere close to pulling back on its support from the economy as it will still take sometime for it to achieve the employment and inflation goals. He added that inflation is still 'soft' and that the Fed is committed to current policy. 

The Conference Board released a report showing consumer confidence has improved more than expected in the month of February. The Conference Board said its consumer confidence index rose to 91.3 in February from a downwardly revised 88.9 in January.