Stock Market HIGHLIGHTS: Sensex ends listless session 124 pts lower, Nifty50 holds 17,850 as market halts two-day winning run
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 ended a weak session in the red on Friday though recovering more than half of their intraday losses. Globally, equities saw largely negative mooves as a spike in US bond yields overshadowed earnings optimism, and concerns about hawkish major central banks continued to worry investors.
Here are key things to know about the February 10 session on Dalal Street:
1. Both headline indices finished the day with a cut of 0.2 per cent. The Sensex lost 123.5 points to end at 60,682.7, having declined as much as 304.5 points during the session, and the Nifty50 settled at 17,856.5, down 37 points from its previous close. The 50-scrip gauge moved broadly within the 17,800-17,900 band in intraday trade.
2. A total of 27 stocks in the Nifty50 basket ended in the red. Adani Enterprises was the top laggard, closing 3.8 per cent lower. HCL Tech, Hindalco, Tata Steel, Coal India, Reliance and ITC were the other top blue-chip losers, falling around 1-3 per cent each. On the other hand, Tata Motors, UPL, Cipla, Hero MotoCorp, HDFC Life, Tata Consumer and Larsen & Toubro were the top gainers, rising between 0.6 per cent and 1.8 per cent.
3. Among heavyweights, Reliance, ICICI Bank, HCL Tech, Infosys and ITC were the biggest drags on the 50-scrip index, whereas Larsen & Toubro, Tata Motors, the HDFC twins and Bharti Airtel brought the maximum support.
4. Broader indices Nifty Midcap 100 and Nifty Smallcap 100 rose 0.2 per cent and 0.5 per cent respectively. The BSE 500, however, inched 0.1 per cent lower with almost 280 of its constituents rising for the day.
5. Overall market breadth was skewed in favour of the bulls, with an advance-decline ratio of 6:5 as 1,861 stocks rise and 1,594 fall at the close on BSE.
6. LIC shares ended 1.1 per cent higher at Rs 620.1 apiece on BSE, a day after the state-run life insurance giant reported a 35.5 times jump in its quarterly net profit.
7. Paytm shares suffered their worst single-day fall since November 22, 2022.
8. Mahindra & Mahindra (M&M) shares slipped into the red, ending 0.5 per cent lower for the day at Rs 1,365.2 apiece on BSE, after the auto major's quarterly net profit fell short of analysts' expectations.
9. The rupee finished barely stronger at 82.50 against the US dollar.
10. European markets retreated on Friday, mirroring their Asian peers, as traders gauged the prospects of a prolonged global monetary policy tightening. The pan-European Stoxx 600 index was down 0.6 per cent at the last count. S&P 500 futures were down half a per cent, suggesting a weak start ahead on Wall Street. On Thursday, the S&P 500, the Dow Jones and the Nasdaq Composite dropped around one per cent each.
Catch all of the market action through the day, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, investment ideas, trading calls and much more on Zeebiz.com's blog:
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 ended a weak session in the red on Friday though recovering more than half of their intraday losses. Globally, equities saw largely negative mooves as a spike in US bond yields overshadowed earnings optimism, and concerns about hawkish major central banks continued to worry investors.
Here are key things to know about the February 10 session on Dalal Street:
1. Both headline indices finished the day with a cut of 0.2 per cent. The Sensex lost 123.5 points to end at 60,682.7, having declined as much as 304.5 points during the session, and the Nifty50 settled at 17,856.5, down 37 points from its previous close. The 50-scrip gauge moved broadly within the 17,800-17,900 band in intraday trade.
2. A total of 27 stocks in the Nifty50 basket ended in the red. Adani Enterprises was the top laggard, closing 3.8 per cent lower. HCL Tech, Hindalco, Tata Steel, Coal India, Reliance and ITC were the other top blue-chip losers, falling around 1-3 per cent each. On the other hand, Tata Motors, UPL, Cipla, Hero MotoCorp, HDFC Life, Tata Consumer and Larsen & Toubro were the top gainers, rising between 0.6 per cent and 1.8 per cent.
3. Among heavyweights, Reliance, ICICI Bank, HCL Tech, Infosys and ITC were the biggest drags on the 50-scrip index, whereas Larsen & Toubro, Tata Motors, the HDFC twins and Bharti Airtel brought the maximum support.
4. Broader indices Nifty Midcap 100 and Nifty Smallcap 100 rose 0.2 per cent and 0.5 per cent respectively. The BSE 500, however, inched 0.1 per cent lower with almost 280 of its constituents rising for the day.
5. Overall market breadth was skewed in favour of the bulls, with an advance-decline ratio of 6:5 as 1,861 stocks rise and 1,594 fall at the close on BSE.
6. LIC shares ended 1.1 per cent higher at Rs 620.1 apiece on BSE, a day after the state-run life insurance giant reported a 35.5 times jump in its quarterly net profit.
7. Paytm shares suffered their worst single-day fall since November 22, 2022.
8. Mahindra & Mahindra (M&M) shares slipped into the red, ending 0.5 per cent lower for the day at Rs 1,365.2 apiece on BSE, after the auto major's quarterly net profit fell short of analysts' expectations.
9. The rupee finished barely stronger at 82.50 against the US dollar.
10. European markets retreated on Friday, mirroring their Asian peers, as traders gauged the prospects of a prolonged global monetary policy tightening. The pan-European Stoxx 600 index was down 0.6 per cent at the last count. S&P 500 futures were down half a per cent, suggesting a weak start ahead on Wall Street. On Thursday, the S&P 500, the Dow Jones and the Nasdaq Composite dropped around one per cent each.
Catch all of the market action through the day, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, investment ideas, trading calls and much more on Zeebiz.com's blog:
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Stock Market Update | Sensex ends 124 pts lower at 60,683, Nifty50 at 17,857
Closing Bell: Both headline indices finish the day 0.2 per cent lower. The Sensex loses 123.5 points to end at 60,682.7, having declined as much as 304.5 points during the session. The Nifty50 settles at 17,856.5, down 37 points from its previous close, after moving broadly within the 17,800-17,900 band in intraday trade.
Here's how the main gauges moved through the day:
Sensex
Stock Market LIVE Update | Reliance, ICICI Bank, Infosys, HCL Tech, ITC top drags on Sensex
On the flipside, gains in the HDFC twins are lending support to the 30-scrip index, keeping its downside in check.
Stock Market LIVE Update | Paytm shares slide, halt four-day rally
Paytm parent One97 Communications' shares fall by as much as Rs 66.6 or 9.3 per cent to Rs 646 apiece on BSE.
According to news agency ANI, Alibaba exited India, selling its entire stake in Paytm.
Alibaba exits India - sells its entire stake holding in Paytm
Read @ANI Story | https://t.co/sQH68Ogv0C#Paytm #Alibaba #One97Communications pic.twitter.com/agBaf2v3Ax
— ANI Digital (@ani_digital) February 10, 2023
Stock Market LIVE Update | Overall market breadth skewed in favour of the bulls
Less than one hour before the closing bell, the market breadth remains positive. On BSE, the advance-decline ratio is 6:5 as 1,870 stocks are in the green and 1,517 in the red.
Stock Market Tips LIVE | Sameet Chavan recommends buying SRF, Mahanagar Gas
Sameet Chavan of Angel One shares two stock picks:
- Buy SRF at Rs 2,280 for a target of Rs 2,370 with a stop loss at Rs 2,230
- Buy the Rs 900 call option of MGL for a target of Rs 30 with a stop loss at Rs 11
Stock Market Tips LIVE | Sanjiv Bhasin recommends buying Vedanta, IDFC First shares
Sanjiv Bhasin of IIFL Securities shares two stock picks with Zee Business viewers:
- Buy Vedanta for a target of Rs 330 with a stop loss at Rs 299
- Buy IDFC First Bank for a target of Rs 60 with a stop loss at Rs 57
Stock Market LIVE Update | Mahindra & Mahindra shares slip into the red after Q3 results
Mahindra & Mahindra (M&M) shares decline by as much as Rs 16.9 or 1.2 per cent to Rs 1,355.8 apiece on BSE minutes after the release of the auto company's financial results.
Mahindra & Mahindra reports a net profit of Rs 1,528.1 crore for the quarter ended December 2022, marking an increase of 14.4 per cent on a year-on-year basis. The auto major's revenue grows 41.1 per cent to Rs 21,653.7 crore, according to a regulatory filing.
According to Zee Business research, M&M's quarterly net profit was estimated at Rs 1,850 crore and revenue at Rs 21,550 crore.
The automobile company's margin — a key measure of profitability for a business — improved by 125 basis points to 13 per cent for the three-month period. According to the research, the company's margin was estimated at 12.7 per cent.
Read more on Mahindra & Mahindra Q3 results
Stock Market Tips LIVE | Sneha Seth recommends buying MCX, AB Fashion shares
Sneha Seth of Angel One shares two stock picks with Zee Business viewers:
- Buy MCX for a target of Rs 1,470 with a stop loss at Rs 1,400
- Buy AB Fashion for a target of Rs 268 with a stop loss at Rs 251
Stock Market Tips LIVE | Sneha Seth recommends buying MCX, AB Fashion shares
Sneha Seth of Angel One shares two stock picks with Zee Business viewers:
- Buy MCX for a target of Rs 1,470 with a stop loss at Rs 1,400
- Buy AB Fashion for a target of Rs 268 with a stop loss at Rs 251
Adani Ports, Adani Transmission, Adani Green, Adani Total Gas locked in lower circuit — here's the latest news implacting the group on Dalal Street
Six Adani group stocks are in the red, with four — Adani Ports, Adani Transmission, Adani Green and Adani Total Gas — locked in the lower five per cent circuit amid volatile trade on Dalal Street:
Six Adani group stocks are in the red, with four — Adani Ports, Adani Transmission, Adani Green and Adani Total Gas — locked in the lower five per cent circuit amid volatile trade on Dalal Street:
| Stock | Change (%) | CMP |
| ADANIPORTS | -5 | 164.3 |
| ADANITRANS | -5 | 1,186.2 |
| ADANIGREEN | -5 | 723.9 |
| ATGL | -5 | 1,258.3 |
| NDTV | -1.8 | 212.8 |
| ACC | -0.6 | 1,905.4 |
| ADANIENT | 0.8 | 1942 |
| AWL | 1.4 | 446.5 |
| ADANIPORTS | 1.7 | 592.2 |
| AMBUJACEM | 2.4 | 366.5 |
Stock Market LIVE Update | Reliance, HCL Tech, Hindustan Unilever, ITC, Infosys top drags on Nifty50
On the other hand, gains in stocks such as SBI and HDFC Bank lent some support to the headline index.
Here's a look at the top movers and shakers in the Nifty50 basket:
Q3 Results | Mahindra & Mahindra shares eke out a gain ahead of earnings today
M&M largely stay in the green today, quoting stronger by Rs 4.1 at Rs 1,376.7 apiece at this hour on BSE. Earlier in the day, the Mahindra & Mahindra stock gyrated in a range of more than Rs 17 — between Rs 1,369.8 and Rs 1,387 — during the session.
Here's what the stock's intraday chart looks like so far:
LIC shares hold on firmly to the green after Q3 results
Life Insurance Corp shares are quoting stronger by Rs 8.3 or 1.4 per cent at Rs 621.6 apiece on BSE, having risen as much as 4.3 per cent to Rs 639.9 apiece earlier in the day.
After market hours on Thursday, LIC reported a net profit of Rs 8,334.2 crore for the quarter ended December 2022, as against a net profit of Rs 234.9 crore for the corresponding period a year ago.
Its net premium income came in at Rs 1,11,787.6 crore for the three-month period, up 14.5 per cent on a year-on-year basis, according to a regulatory filing.
Stock Market Tips LIVE | Astha Jain recommends buying Action Construction Equipment shares
Astha Jain of Hem Securities shares a stock pick with Zee Business viewers. She suggests buying Action Construction Equipment at Rs 360 for targets of Rs 405 and Rs 420 with a stop loss at Rs 315.
The Action Construction Equipment shares have grown 18.7 per cent in value in the past one month, a period in which the Nifty50 benchmark has declined 0.3 per cent.
