Stock Market HIGHLIGHTS: Sensex ends 599 pts below day's high, Nifty gives up 17,850 as market extends losses to 2nd day
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 finished a volatile session in the red on Monday, extending losses to a second back-to-back trading day, amid losses in financial, oil & gas and FMCG shares though gains in IT stocks lent some support. Global markets saw mixed moves ahead of the release of minutes of the Fed's last meeting that could offer more clarity on the trajectory of hikes in benchmark interest rates.
Catch all the market action on February 20, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, financial results, investment ideas and stock picks — and much more — only on Zeebiz.com's blog:
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 finished a volatile session in the red on Monday, extending losses to a second back-to-back trading day, amid losses in financial, oil & gas and FMCG shares though gains in IT stocks lent some support. Global markets saw mixed moves ahead of the release of minutes of the Fed's last meeting that could offer more clarity on the trajectory of hikes in benchmark interest rates.
Catch all the market action on February 20, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, financial results, investment ideas and stock picks — and much more — only on Zeebiz.com's blog:
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Stock Market Update | Sensex ends 311 pts lower at 60,692, Nifty50 slides below 17,850
Both headline indices finish the day half a per cent lower. The Sensex closes with a loss of 311 pts at 60,691.5, having gyrated in a range of 683.2 points around the flatline, and the Nifty50 settles at 17,844.6, down 99.6 pts from its previous close.
Here's how the gauges moved through the day:
Sensex
Nifty50
Stock Market Tips LIVE | Nirav Chheda recommends buying Aarti Industries shares
Nirav Chheda of Nirmal Bang Securities suggests buying Aarti Industries shares for a target of Rs 580 with a stop loss at Rs 525.
Aarti Industries shares have lost about 30 per cent of their value in the past six months, a period in which the Nifty50 index has risen two per cent.
Stock Market LIVE Today | Tata Motors to supply 25,000 XPREST electric vehicle units to Uber, reports Bloomberg
Tata Motors will supply 25,000 XPREST electric vehicle units to Uber in one of the largest deals in the green mobility space till date, according to a report by news agency Bloomberg.
Stock Market Tips LIVE | Astha Jain suggests buying Sanghvi Movers, Tata Communications
Astha Jain of Hem Securities shares two stock picks:
- Buy Sanghvi Movers at Rs 365 for targets of Rs 400 and Rs 403 with a stop loss at Rs 330
- Buy Tata Communications for targets of Rs 1,265-1,280 with a stop loss at Rs 1,230
Stock Market LIVE Update | HDFC twins, ICICI Bank, Cipla, Reliance top drags on Nifty50
On the other hand, gains in stocks such as Infosys and Bharti Airtel prevented lower levels in the 50-scrip index. Here's what the 50-scrip heatmap looks like:
Stock Market LIVE Today | Sensex, Nifty50 at day's lows dragged by financial stocks
Both headline indices dive into the red amid worsening selling pressure in financial shares such as heavyweights ICICI Bank and the HDFC twins. The Sensex dips to as low as 60,849.3, 440.9 points below the strongest level of the day.
The Nifty50 slips to as low as 17,886.5, having tested the 18,000 mark earlier in the day.
Stock Market LIVE Today | Coforge shares rise after IT firm launches Cloud-based platform for logistics space
Coforge shares strengthen by Rs 80.7 or 1.9 per cent to touch Rs 4,284.7 apiece at the strongest level of the day so far.
Coforge says the solution will be used for extraction and process automation of unstructured paper bill of lading (BOL), and will help in improving asset utilisation and reducing costs as it digitises, streamlines and automates load planning and billing for freight handling.
“The unstructured, highly diverse paper BOLs have created very manual processes to track, plan, and bill freight handling for decades and one of the toughest problems to solve in the logistics industry. Coforge’s Quasar eBOL is technology-agnostic, doesn’t come with high or open-ended license costs like typical software tools, and will give carriers immense value in automating and dynamically adjusting time critical decisions," said Sanjay Dalwani, Executive Vice President and Global Head of Transportation, Travel and Hospitality at Coforge.
Stock Market Tips LIVE | Buy Pidilite, Nifty Bank 40,800 put option, says Mehul Kothari
Mehul Kothari of Anand Rathi Shares & Stock Brokers shares two recommendations with Zee Business viewers:
- Buy Pidilite for a target of Rs 2,520 with a stop loss at Rs 2,220
- Buy the 40,800 put option of Nifty Bank around Rs 190 for a target of Rs 400 with a stop loss at 80
Stock Market Tips LIVE | Arpit Beriwal recommends buying Infosys, TVS Motor shares
Arpit Beriwal of Motilal Oswal Financial Services shares two stock picks:
- Buy Infosys for a target of Rs 1,650 with a stop loss at Rs 1,560
- Buy TVS Motor Company for a target of Rs 1,180 with a stop loss at Rs 1,095
He also suggests buying Nifty50 futures for a target of 18,081 with a stop loss at 17,800.
Stock Market Tips LIVE | Sneha Seth recommends buying Sona Blw Precision, NTPC shares
Sneha Seth of Angel One shares two stock picks with Zee Business viewers:
- Buy Sona Blw Precision Forgings (SONACOMS) shares for a target of Rs 492 with a stop loss at Rs 462
- Buy NTPC for a target of Rs 173 with a stop loss at Rs 167
Stock Market LIVE Today | Cipla shares take a beating after US FDA observations on drug maker's Pitampur facility
The Cipla stock falls by as much as Rs 69.6 or 6.8 per cent to Rs 956.2 apiece on BSE.
Stock Market LIVE Today | Nifty50 tests 18,000 as market gathers steam
The Nifty50 climbs to as high as 18,004.4, up 60.2 points or 0.3 per cent from its previous close. The Sensex rises as much as 287.6 points or 0.5 per cent to 61,290.2.
Here's how the headline indices' intraday charts are building up:
Sensex
Nifty50
Stock Market LIVE Today | NMDC Steel listing in line with Zee Business estimates
According to Zee Business research, NMDC Steel was expected to list around Rs 27-31 apiece.
Stock Market LIVE Today | NMDC Steel makes strong market debut
NMDC Steel (NSLNISP) shares touch the upper circuit at Rs 31.8 apiece on BSE, seconds after making a strong debut in the secondary market at Rs 30.3 apiece.
NMDC Steel is a demerged arm of NMDC. Under the demerger plan, those holding NMDC shares will be allotted one share of NMDC Steel for each share. According to the demerger scheme, NDMC's assets worth Rs 18,650 crore and liabilities worth over Rs 1,600 crore have been demerged to NMDC Steel.