Evening Walk Down D-Street on Feb 25, '19 | Chat with Ritesh Ashar of KIFS Capital

A powerful day for the bulls as they pushed benchmark indices above crucial resistance levels towards the close of the trade on February 25. The S&P BSE Sensex reclaimed Mount 36K while the Nifty50 breached 10,800 on the upside thanks to positive global cues.

Approval of GST council to lower the tax rate on under construction real estate project added to the positive sentiment on D-Street. IT, banking and auto were the top contributors from the sectoral front while the broader indices managed to end marginally higher.

The S&P BSE Sensex closed 341 points higher at 36,213 while the Nifty50 ended at 10,880, up 88 points. The big news is that both Sensex and Nifty have turned positive for the year 2019 after February 25 rally.

As we head towards the expiry, volatility cannot be ruled out, suggest experts and investors should use rallies to exit long positions. The rise that we have seen from the lows of 10,585 is a welcome move but this is still a sell-on-rallies market.