Share Market HIGHLIGHTS: Nifty50 crosses 22,197 to fresh record closing high, Sensex jumps 535 pts led by IT, auto stocks; HCL Tech, ITC jump 3%
Share Market HIGHLIGHTS: Domestic benchmark indices Sensex and Nifty finished a volatile session on a higher note on Thursday, February 22, with the 50-scrip gauge scaling a record closing high. Strong buying in IT, auto and oil & gas shares pushed the market higher, though selling in financial counters kept the upside in check.
Here are some of the buzzing stocks that made headlines during the day:
- Grasim hits record high, Berger Paints, Kansai Nerolac under pressure as Aditya Birla firm inaugurates first paint plant
- BHEL, Mishra Dhatu Nigam, MTAR Tech rise, BEML, L&T dip after Centre amends space sector FDI policy
- After Avendus, CLSA downgrades OMC stocks
- Metal stocks shine; are there good long-term opportunities for investors?
- South Indian Bank soars after lender's board approves rights issue
- SpiceJet raises additional Rs 316 crore, total funds amount to Rs 1,060 crore
- ABB shares scale peak for second straight day; should you buy, sell or hold the stock?
- Axis Bank shares rise after Moody's affirms rating
Catch all the highlights of the February 22 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:
Share Market HIGHLIGHTS: Domestic benchmark indices Sensex and Nifty finished a volatile session on a higher note on Thursday, February 22, with the 50-scrip gauge scaling a record closing high. Strong buying in IT, auto and oil & gas shares pushed the market higher, though selling in financial counters kept the upside in check.
Here are some of the buzzing stocks that made headlines during the day:
- Grasim hits record high, Berger Paints, Kansai Nerolac under pressure as Aditya Birla firm inaugurates first paint plant
- BHEL, Mishra Dhatu Nigam, MTAR Tech rise, BEML, L&T dip after Centre amends space sector FDI policy
- After Avendus, CLSA downgrades OMC stocks
- Metal stocks shine; are there good long-term opportunities for investors?
- South Indian Bank soars after lender's board approves rights issue
- SpiceJet raises additional Rs 316 crore, total funds amount to Rs 1,060 crore
- ABB shares scale peak for second straight day; should you buy, sell or hold the stock?
- Axis Bank shares rise after Moody's affirms rating
Catch all the highlights of the February 22 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: Midcap, smallcap stocks participate in intraday market recovery; Nifty Midcap 100, Nifty Smallcap 100 rise up to 1%
| Index | Feb 22 close | Change (%) |
| NIFTY 500 | 20,283.95 | 0.77 |
| NIFTY MIDCAP 100 | 49,128.35 | 1.02 |
| NIFTY SMALLCAP 100 | 16,114.45 | 0.68 |
The Nifty 500, NSE's broadest gauge, finishes the day 0.8 per cent stronger.
Take a look at the top gainers in the BSE 500 universe, a basket that settles with 309 gainers:
Image: BSEIndia.com
Share Market Today: Coal India, Bajaj Auto, Eicher Motors, ITC, HCL Tech rise most among 35 gainers in Nifty50 basket; HDFC Life, JSW Steel, Divi's, Bharti Airtel, Tata Consumer Products top losers
Top Nifty50 gainers
| Stock | Feb 22 close | Change (%) |
| COALINDIA | 448 | 3.48 |
| BAJAJ-AUTO | 8,515.00 | 3.43 |
| EICHERMOT | 3,953.00 | 3.04 |
| ITC | 415 | 2.89 |
| HCLTECH | 1,683.00 | 2.85 |
| M&M | 1,908.00 | 2.6 |
| TCS | 4,082.55 | 2.28 |
| TECHM | 1,325.00 | 2.19 |
| LT | 3,363.00 | 2.02 |
| MARUTI | 11,695.00 | 2 |
| HINDALCO | 521.3 | 1.86 |
| WIPRO | 530.8 | 1.8 |
Top Nifty50 losers
| Stock | Feb 22 close | Change (%) |
| INDUSINDBK | 1,492.00 | -1.66 |
| HDFCBANK | 1,422.00 | -1.19 |
| BPCL | 626 | -1.14 |
| KOTAKBANK | 1,729.00 | -0.98 |
| HINDUNILVR | 2,389.00 | -0.75 |
| SBIN | 766.95 | -0.59 |
| HEROMOTOCO | 4,510.25 | -0.54 |
| TATACONSUM | 1,156.70 | -0.35 |
| BHARTIARTL | 1,137.80 | -0.18 |
| DIVISLAB | 3,644.20 | -0.13 |
| JSWSTEEL | 827.35 | -0.11 |
| HDFCLIFE | 576.85 | -0.1 |
Share Market Today: Nifty IT, Nifty Auto, Nifty Metal top gainers among NSE sectoral gainers; Nifty Bank top loser, down 0.2%
| Index | Current level | Change (%) |
| NIFTY IT | 38,130.15 | 1.94 |
| NIFTY AUTO | 20,584.85 | 1.64 |
| NIFTY METAL | 8,069.40 | 1.17 |
| NIFTY MEDIA | 2,135.20 | 1.01 |
| NIFTY FMCG | 54,419.20 | 0.98 |
| NIFTY REALTY | 909.65 | 0.54 |
| NIFTY HEALTHCARE INDEX | 12,121.15 | 0.42 |
| NIFTY OIL & GAS | 11,806.75 | 0.3 |
| NIFTY PHARMA | 18,969.45 | 0.28 |
| NIFTY PSU BANK | 7,158.60 | 0.21 |
| NIFTY CONSUMER DURABLES | 31,889.35 | 0.13 |
| NIFTY PRIVATE BANK | 23,430.50 | -0.07 |
| NIFTY FINANCIAL SERVICES | 20,665.90 | -0.1 |
| NIFTY BANK | 46,919.80 | -0.21 |
Share Market Today: Nifty at record closing high of 22,217, Sensex up 535 pts
NIFTY AT ALL-TIME HIGH | Nifty scales fresh peak of 22,251.35
Share Market Today LIVE | Sensex rebounds 800 pts from day's low, Nifty at 22,150 led by IT shares
Share Market Tips LIVE | Buy Texmaco Rail, Ashoka Buildcon shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying Texmaco Rail shares for a target of Rs 200 with a stop loss at Rs 175. Besides, recommends buying Ashoka Buildcon shares for a target of Rs 190 with a stop loss at Rs 170.
Share Market Today LIVE | Metal stocks shine in weak market; are there good long-term opportunities for investors?
The metal space is an outlier in an overall weak market boosted by strong gains in Hindalco, Tata Steel and NMDC shares. The Nifty Metal index gain as much as 1.0 per cent in intraday trade, rising for a second straight session to turn neutral for the week after finishing the previous week 1.5 per cent lower amid softening iron ore prices.
While Hindustan Copper shares are up nearly five per cent, stocks such as NMDC, Nalco, JSL, Hindalco and Tata Steel trade about 1-2 per cent higher, shrugging off persistent weakness in Chinese iron ore prices.
Chinese iron ore prices continued to decline to as low as $122 per tonne on Thursday, already down about two per cent on the week, according to Prabhudas Lilladher. Read more
Share Market Today LIVE | After Avendus, CLSA downgrades OMC stocks; check out the biggest concern
Oil marketing companies (OMCs) have fallen out of favour, and how! A day after Avendus downgraded the stocks, citing the steep rally seen in OMCs in a four-month time period as not sustainable, CLSA has also turned bearish on the counters. One of the key reasons behind the downgrade is the companies' marketing margins, which are much higher than their historical levels. The brokerage also noted that OMCs' refining margin is also nearing record.
CLSA notes that the margins' sustainability is a concern. It has assigned a 'sell' rating to OMCs. The global brokerage, as per Zee Business Research, notes that a rise of 7 per cent in the prices of crude oil may spark concerns about the OMCs' marketing margins. Further, going ahead, capacity addition in the Middle East and the possibility that the government may increase fuel taxes after the Lok Sabha elections will put pressure on the margins. Read more
Share Market Today LIVE | South Indian Bank soars over 7% after lender's board approves rights issue
South Indian Bank shares rise over seven per cent on BSE after the lender's board approved the issuance of fully paid-up equity shares to the tune of Rs 1151 crore. South Indian Bank shares are trading up by 6.91 per cent, or Rs 2.25, at Rs 34.79 on BSE.
Informing about the board of directors' approval of the rights issue, the bank said that the approval includes-
a. The total number of rights equity shares and rights issue size: 5,231,85,254 rights equity shares each on fully--paid up basis for an amount aggregating up to Rs 1151.01 crores (assuming full subscription with respect to rights equity shares).
b. Rights Issue Price: Rs 22 per rights equity share fully paid-up (including a premium of Rs 21 per rights equity share) on application.
c. Record date: Tuesday, February 27,2024
d. Rights issue period:
1. Rights issue opening date: Wednesday, March 6, 2024; and
2. Rights issue closing date: Wednesday, March 20, 2024. Read more
Share Market Today LIVE: Hold PNB Housing, Nalco shares, says Vikas Salunkhe
Vikas Salunkhe of Nirmal Bang Securities shares two 'hold' recommendations with Zee Business viewers:
- Hold PNB Housing Finance shares for targets of Rs 900 and Rs 950 with a stop loss at Rs 670
- Hold Nalco shares for a target of Rs 165 with a stop loss at Rs 156
Here's how the stocks have moved in the past year:
PNB Housing Finance, up 48.5%
Nalco, up 96.6%
Image: BSEIndia.com
Share Market Today LIVE: Buy Nifty 21,950 put at Rs 35, says Nitin Murarka
Nitin Murarka of SMC Global recommends buying the 21,950 Nifty50 put option at Rs 35 for targets of Rs 60 and Rs 75 with a strict stop loss at Rs 10.
Share Market Today LIVE: Buy Indian Hotels, Cummins India shares, says Chandan Taparia
Chandan Taparia of Motilal Oswal Financial Services shares two recommendations with Zee Business viewers:
- Buy Indian Hotels shares for a target of Rs 588 with a stop loss at Rs 560
- Buy Cummins India shares for a target of Rs 2,800 with a stop loss at Rs 2,600
Share Market Today LIVE: Nifty Bank down 1%, worst hit among NSE sectoral gauges
| Index | Current level | Change (%) |
| NIFTY BANK | 46,551.80 | -1 |
| NIFTY FINANCIAL SERVICES | 20,496.40 | -0.92 |
| NIFTY PRIVATE BANK | 23,245.75 | -0.85 |
| NIFTY PSU BANK | 7,088.30 | -0.78 |
| NIFTY CONSUMER DURABLES | 31,626.60 | -0.7 |
| NIFTY OIL & GAS | 11,716.95 | -0.47 |
| NIFTY PHARMA | 18,855.75 | -0.32 |
| NIFTY FMCG | 53,844.95 | -0.09 |
| NIFTY HEALTHCARE INDEX | 12,060.20 | -0.08 |
| NIFTY AUTO | 20,296.35 | 0.22 |
| NIFTY REALTY | 908.15 | 0.38 |
| NIFTY METAL | 8,012.60 | 0.45 |
| NIFTY IT | 37,614.60 | 0.56 |
| NIFTY MEDIA | 2,130.80 | 0.8 |
Weakness in HDFC Bank, IndusInd Bank, SBI and Kotak Mahindra Bank is putting pressure on the banking index, though strength in Axis Bank is keeping the downside in check.
Image: Niftyindices.com