Share Market HIGHLIGHTS: Sensex ends 228 pts higher, Nifty reclaims 21,900 led by financial, auto stocks; M&M surges 7%
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex finished a volatile session about one-third of a percentage point higher on Thursday, February 15. Catch minute-by-minute updates of the session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex ended a volatile session on Dalal Street about one-third of a percentage point higher on Thursday, February 15, led by buying in financial, auto and IT shares though selling in FMCG counters limited the upside. Among heavyweights, HDFC Bank, Mahindra & Mahindra, State Bank of India, NTPC and Infosys were the biggest contributors to the upmove in the 50-scrip index. Investors awaited more earnings reports from India Inc for domestic cues.
Here are some of the stocks that made headlines during the course of the day:
- Muthoot Finance shares fall as brokerages look unimpressed despite strong Q3 results; what should you do?
- Paytm was on the 'buy' list of mutual funds in January
- Crompton Greaves Consumer Electricals shares decline after Q3 results fall short of analysts' expectations
- Block deal in Vedanta
- NMDC shares clock 52-week high after operationally strong Q3 show; what should investors do?
- Yatra Online shares slip
- Should you buy M&M, OIL, BHEL, Zomato, Crompton Greaves shares?
- How to trade Vedanta, Asian Paints, over a dozen other stocks today
- 'Pick of the Day': HAL, Bank of Baroda, MRF among analysts' top picks
Catch all the highlights of the February 15 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
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Share Market Today: Sensex up 228 pts, Nifty reclaims 21,900 as D-Street extends gains to third day in a row
- Financial, auto stocks lead gains on Dalal Street
- M&M soars 7%
Market Today LIVE: Should you buy Sovereign Gold Bonds?
While past returns on SGBs have been promising, future returns may vary depending on factors like prevailing gold prices and the terms of future issuances, says Anuj Gupta of HDFC Securities.
"As the long-term trend of gold looks positive, this is an opportune time for investors to invest for the long term in gold," Gupta adds.
Image: Reuters
Stock Market Today LIVE: Dow Jones futures up over 50 pts; Wall Street to remain shut on Thursday for Martin Luther King Jr Day
The near-month futures contracts of the three main Wall Street indices, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite, are mildly up at this hour.
- Dow Jones futures: up 66 points, or 0.2 per cent, at 38,560
- S&P 500: up 7.5 points, or 0.2 per cent, at 5,025.5
- Nasdaq Composite: up 16.8 points, or 0.1 per cent, at 17,897.8
Stock Market Today LIVE: European equities get a corporate earnings boost; French shares hit record high
European shares begin the day on a positive note, boosted by gains in French stocks and a soft GDP reading from the UK, while comments by European Central Bank President Christine Lagarde on the disinflation process in the euro zone aid sentiment. The pan-European Stoxx 600 index is up 0.6 per cent at this hour.
Here's where some of the key indices in the region stand:
- UK: FTSE 100: up 0.2 per cent
- France's CAC: up 0.9 per cent
- Germany's DAX: up 0.6 per cent
Share Market Today LIVE: PM Modi's RDSS scheme proving a boon for this small-cap company; stock up 3x in 12 months
The small-cap index in the recent past, amid broad market gains, has logged stupendous gains, with HPL Electric and Power (HPL) being no exception. The stock has delivered a handsome return of 240 per cent in the last one year, i.e., nearly trebled investors' money in a short span of a year. The company has been continuously bagging orders for smart metres amid the government’s push to implement prepaid smart meters under the Revamped Distribution Sector Scheme (RDSS) in a gradual manner.
Share Market Today LIVE: Japan unexpectedly slips into recession; Germany now world's third-biggest economy
Japan's economy has slipped into a recession as it unexpectedly shrank for two straight quarters on weak domestic demand, raising uncertainty about the central bank's plans to exit its ultra-easy policy sometime this year.
The weak performance saw Japan lose its title as the world's third-largest economy, replaced by Germany.
Share Market Today LIVE: Paytm shares remain locked in lower circuit
Paytm parent One97 Communications' shares continue to be locked in the five per cent lower circuit at Rs 325.3 apiece on BSE.
The Enforcement Directorate has questioned senior Paytm executives and taken submission of documents from them following the recent RBI action of barring Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account, news agency Press Trust of India reported citing official sources.
The central agency is conducting a preliminary examination of documents before it decides to launch a formal investigation into the RBI-flagged alleged irregularities at the fintech company under the Foreign Exchange Management Act (FEMA), according to the report.
What does it mean when a stock hits a circuit?
When a stock is locked in a circuit, it means that there is a sudden surge in demand or supply for that particular stock, causing its price to hit the upper or lower circuit limit set by the stock exchange. This limit is usually a percentage increase or decrease from the previous closing price. When the circuit is triggered, trading in that stock is temporarily halted, and no further trades can take place until the circuit is released.
This mechanism is in place to prevent extreme volatility and rapid price fluctuations. It allows investors to digest the new information and make informed decisions. Overall, circuit breakers play a crucial role in maintaining market stability and protecting investors.
Share Market Today LIVE: Buy SBI, Oil India, M&M shares, says Chandan Taparia
Chandan Taparia of Motilal Oswal Financial Services recommends buying SBI shares at current levels for a target of Rs 777 with a stop loss at Rs 740.
He also has a 'buy' call each on M&M and Oil India shares. For the auto company, he has placed his target at Rs 1,820 and stop loss at Rs 1,740. For Oil India, his target stands at Rs 620.
Taparia is also positive on Bank of India and Indian Bank shares.
Share Market Today LIVE: NBCC shares locked in upper circuit for second straight day
State-run construction company NBCC's shares are locked in the five per cnet upper circuit at Rs 137.3 apiece on BSE.
Image: BSEIndia.com
Share Market Today LIVE: MRPL, Oil India, KIOCL, NMDC Steel, Gujarat Pipavav surge over 9%, top gainers in BSE 500 universe
On the other hand, stocks such as Rajesh Exports, Paytm, Vedanta, Muthoot Finance and Narayana Hrudayalaya are the worst hit among some 150 laggards in BSE's broadest index.
Share Market Today LIVE: Glenmark Pharma shares remain under pressure after Q3 results fall short of analysts' expectations due to exceptional item
Glenmark Pharma shares decline by as much as Rs 51, or 6.4 per cent, to Rs 847.3 apiece on BSE, after the drug maker's quarterly numbers fall short of analysts' estimates owing to a one-time adjustment.
After market hours on Wednesday, the Mumbai-headquartered pharmaceutical company reported a net loss of Rs 470 crore for the October-December period, including an exceptional loss at Rs 767 crore related to its domestic business, as against a net profit of Rs 168 crore for the corresponding quarter a year ago.
Its quarterly revenue fell 19 per cent to Rs 2,507 crore, according to a regulatory filing.
According to Zee Business research, Glenmark Pharma was expected to register a net profit of Rs 281 crore for the December quarter over revenue of Rs 3,452 crore.
Share Market Today LIVE: Supreme Court scraps opaque election funding system, calls it 'unconstitutional'
The Supreme Court scraps a seven-year-old election funding system that allows individuals and companies to donate money to political parties anonymously and without any limits.
Introduced in 2017, the electoral bonds system was challenged by opposition members and a civil society group on grounds that it hindered the public's right to know who had given money to political parties.
Share Market Today LIVE: IT firms staged better-than-expected Q3 show; margins likely to improve in FY25 on the back of better pricing
Major IT companies' December-quarter results show suggest that stability is just around the corner, with improvement in client sentiment, according to Zee Business research.
Analysts say that while the US market showed a tense business environment during the December quarter, Indian IT companies saw strong growth in their businesses in the UK and Europe regions. One of the major factors that shows that IT companies are getting business from foreign markets is the continuous decline in the attrition rate.Share Market Today LIVE: Market wizard Anil Singhvi says strong buy zone for Nifty50 at 21,575-21675
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,725-21,775 levels and a strong buy zone at 21,575-21,675 levels today.
For the Nifty Bank, he expects support to come in at 45,525-45,725 levels and a strong buy zone at 44,875-45,025 levels.
Read more on how market wizard Anil Singhvi views the market today
Share Market Today LIVE: Muthoot Finance shares give up initial gains
Muthoot Finance (MUTHOOTFIN) shares decline as much as 1.8 per cent to Rs 1,355.6 apiece, after starting the session in the green.
After market hours on Wednesday, the NBFC reported third-quarter financial results that largely met analysts' expectations, with improving asset quality and stable margins. Here are some highlights of Muthoot Finance's Q3 earnings:
- Profit: up 13.9 per cent
- NII: up 11.8 per cent
- Loan growth: 23 per cent
Image: BSEIndia.com
Share Market Today LIVE: How brokerages view M&M after Q3 results
According to CLSA, which has maintained a 'buy' rating on M&M and raised its target for the auto stock to Rs 2,074 from Rs 1,931, SUVs are likely to drive growth for M&M whereas the tractors segment may remain weak.
The brokerage estimates M&M's tractor volumes to decline by 5-6 per cent in FY24.
Catch the complete list of brokerage views on a bunch of newsmaker stocks today
Share Market Today LIVE: JPMorgan retains 'overweight' on M&M, raises target
According to JPMorgan, which has maintained its 'overweight' rating on M&M shares with a revised target of Rs 1,880 instead of the Rs 1,790 earlier, the auto maker's Q3 results are broadly in line with its expectations, with surprising automotive margins though farming profitability appears softer than expected.
Share Market Today LIVE: Jefferies maintains 'hold' rating on M&M, raises target by Rs 35
According to Jefferies, which has raised its target price for the stock to Rs 1,615 from Rs 1,580, M&M's Q3 results are good but a downturn in the tractors segment appears to be intensifying following an elongated upcycle.
M&M's auto order book has come off sharply in three months, however, its new order inflow is holding up well, according to the brokerage.
Jefferies also points out that M&M shares are not cheap, and seem unlikely to deliver meaningful returns until the visibility on the tractor demand front improves.
Share Market Today LIVE: M&M shares jump after better-than-expected Q3 results
Mahindra & Mahindra shares continue to rise for a second straight day, gaining by as much as Rs 77.1, or 4.7 per cent, to Rs 1,734.7 apiece on BSE today to trade within Rs 23 of an all-time high registered in December last year.
During market hours on Wednesday, M&M reported a 61 per cent year-on-year jump in standalone net profit to Rs 2,454 crore with growth of 16 per cent in revenue to Rs 25,642 crore for the fiscal third quarter.
Its margin came in at 14 per cent, according to a regulatory filing.
Zee Business analysts had pegged M&M's second-quarter net profit at Rs 2,520 crore, revenue at Rs 25,400 crore and margin at 12.7 per cent.
M&M shares ended 0.7 per cent higher at Rs 1,657.6 apiece on Wednesday.
Share Market Today LIVE: How brokerages view M&M after Q3 results
Brokerage Rating Target price Target vs Feb 14 close CLSA Buy Revised to Rs 2,074 from Rs 1,931 25.1% JPMorgan Overweight Revised to Rs 1,880 from Rs 1,790 13.4% Jefferies Hold Revised to Rs 1,615 from Rs 1,580 -2.6% Morgan Stanley Overweight Revised to Rs 1,952 from Rs 1,859 17.8% Citi Buy Revised to Rs 1,890 from Rs 1,750 14% HSBC Buy Rs 1,900 14.6% Nomura Buy Revised to Rs 2,143 from Rs 1,980 29.3% Macquarie Outperform Rs 1,801 8.7% Share Market Today LIVE: Mahindra & Mahindra shares top blue-chip gainer after auto maker's strong Q3 performance
M&M, NTPC, HDFC Bank, Wipro and Tata Steel rise the most among the 16 gainers in the 30-scrip pack.
Image: BSEIndia.com
Share Market Today LIVE: NMDC shares hit 52-week high after PSU iron ore producer stages strong Q3 show
State-run NMDC's shares gain by as much as Rs 17.2, or 7.3 per cent, to Rs 252.7 apiece on BSE, after the iron ore production company stages a better-than-expected set of results for the October-December period.
Share Market Today LIVE: Japan unexpectedly slips into recession; Germany now world's third-biggest economy
Japan's economy has slipped into a recession as it unexpectedly shrank for two straight quarters on weak domestic demand, raising uncertainty about the central bank's plans to exit its ultra-easy policy sometime this year.
The weak performance saw Japan lose its title as the world's third-largest economy, replaced by Germany.
Gross domestic product (GDP) fell an annualised 0.4 per cent in the October-December period after a 3.3 per cent slump in the previous quarter, government data showed on Thursday (February 15). The result compared with a median market forecast of a 1.4 per cent increase.
Share Market Today LIVE: Sensex rises over 200 pts, Nifty tops 21,900; M&M top blue-chip gainer, up 3%
Share Market Today LIVE: Muthoot Finance, Gland Pharma, CONCOR: Stocks to track today
Muthoot Finance has posted a consolidated net profit of Rs 1,145.3 crore for the October-December period, as against Rs 933.9 crore for the corresponding quarter a year ago.
Gland Pharma has registered a 17.3 per cent year-on-year a fall in consolidated net profit to Rs 191.9 crore for the December quarter.
Share Market Today LIVE: What M&M, BHEL, Vedanta, Asian Paints, Crompton Greaves, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track today. Check out the complete list of stocks on analysts Ashish Chaturvedi and Varun Dubey's radar.
Ashish Chaturvedi recommends buying KEC International shares in the cash segment for a target price of 725 with a stop loss at Rs 685.
Varun Dubey suggests buying Muthoot Finance futures for a target of Rs 1,440 with a stop loss at Rs 1,350.
Share Market Today LIVE: Dow Jones ends over 150 pts higher, S&P 500 touches 5,000; Nvidia displaces Alphabet as third most valuable company on Wall Street
The three US benchmark indices, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite, finish higher as ride-hailing platforms Lyft and Uber rally, while Nvidia displaces Alphabet as Wall Street's third most valuable company.
Here's where the indices stand at the end of Wednesday's session:
- Dow Jones Industrial Average: up 151.5 points, or 0.4 per cent, at 38,424.3
- S&P 500: up 47.5 points, or 1.0 per cent, at 5,000.6
- Nasdaq Composite: up 203.6 points, or 1.3 per cent, at 15,859.2
Nvidia overtakes Alphabet's market capitalisation ahead of the dominant AI chipmaker's quarterly results next week, now with a stock market value of $1.825 trillion as its shares rise 2.5 per cent.
Lyft rallies on cost cuts and the company's quarterly profit beat, Ubber hits a record high on the back of a $7-billion share buyback plan, and Robinhood gains on surprise profit and revenue forecasts.
Share Market Today LIVE: GIFT Nfity futures up over 75 points, indicate a positive start ahead on Dalal Street
GIFT Nifty futures, an early indicator of the benchmark Nifty50 index, are up 76.5 points, or 0.4 per cent, at 21,989.5 at this hour, having risen as much as 88.5 points earlier in the day, suggesting a start in the green ahead on Dalal Street.Good morning! Welcome to Zeebiz.com's blog on the stock market today
Follow this space to catch minute-by-minute market action, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, brokerage views, and much more during the course of the day.
Happy trading, and happy investing!
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