Share Market HIGHLIGHTS: Sensex down 15 pts, Nifty at 22,213 as market flat end of volatile day
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex finished a volatile session largely unchanged on Friday, as losses in IT and financial shares offset gains in oil & gas counters. Catch all the highlights of the February 23 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 finished a volatile session on Dalal Street largely unchanged on Friday, as losses in IT and financial shares offset gains in oil & gas counters. Globally, equities registered mixed moves as investors awaited remarks from ECB policymakers for clues on the benchmark interest rate trajectory.
Meanwhile, here are some of the stocks that were in headlines:
- Novelis' IPO plans: What is in store for Hindalco shareholders?
- Goldman Sachs double downgrades SBI, ICICI Bank; says goldilocks period over for financials
- Can Grasim's aggressive entry disrupt a market dominated by Asian Paints, Berger Paints?
- IRCTC's tie-up with Swiggy a win-win for both
- Vodafone Idea shares soar after telecom firm announces board meeting to consider raising funds
- Is Maruti Suzuki going to face a hurdle ahead? Check out Macquarie's latest target price
- Should you buy Bharti Airtel, ICICI Bank, Axis Bank, Asian Paints stocks?
Catch all the highlights of the February 23 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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Market This Week: Sensex logs weekly gain of 716 pts, Nifty adds 172 pts
The Sensex finishes the week with a gain of 716.2 points, or one per cent, while the Nifty50 clocks a weekly rise of 172 points, or 0.8 per cent, led by financial, FMCG and pharma and private sector banking stocks.
Index Weekly change Points % NIFTY REALTY 36.05 4.08 NIFTY CONSUMER DURABLES 642.55 2.04 NIFTY FMCG 819.15 1.53 NIFTY FINANCIAL SERVICES 204.35 1.00 NIFTY HEALTHCARE INDEX 119.95 1.00 NIFTY AUTO 197.90 0.97 NIFTY PHARMA 177.60 0.94 NIFTY BANK 426.90 0.92 NIFTY METAL 71.30 0.89 NIFTY PRIVATE BANK 189.95 0.82 NIFTY MEDIA -0.50 -0.02 NIFTY OIL & GAS -97.80 -0.83 NIFTY PSU BANK -58.95 -0.83 NIFTY IT -431.40 -1.12 M&M, Grasim, ICICI Bank, Nestle India, Sun Pharma rise most among 32 weekly gainers in Nifty universe
Top weekly gainers
- M&M: up 5.1%
- Grasim: up 4.2%
- ICICI Bank: up 3.7%
- Nestle India: up 3.7%
- Sun Pharma: up 3.4%
Top weekly losers
- Hero MotoCorp: down 7.7%
- Coal India: down 7.5
- BPCL: down 5.6
- Divi's: down 2.2
- HDFC Life: down 2.0
Midcap index rises 0.3% for week
Index Weekly change Points % NIFTY 500 148.60 0.74 NIFTY MIDCAP 100 147.60 0.30 NIFTY SMALLCAP 100 -18.80 -0.12 Share Market Today: Broader indices register mild gains, shrug off muted trend in headline gauges
Index Feb 23 close Change (%) NIFTY 500 20,313.50 0.15 NIFTY MIDCAP 100 49,279.55 0.31 NIFTY SMALLCAP 100 16,175.20 0.38 The Nifty 500, NSE's broadest index, finishes the day 0.2 per cent higher.
Share Market Today: Bajaj Finserv, SBI Life, HDFC Life, LTIMindtree, Dr Reddy's rise most among 20 Nifty gainers; Bharti Airtel, TCS, Asian Paints, Maruti Suzuki top losers
Top Nifty50 gainers
Index Feb 23 close Change (%) BAJAJFINSV 1,616.00 1.47 SBILIFE 1,530.00 1.35 HDFCLIFE 580.8 1.07 LTIM 5,539.95 0.97 DRREDDY 6,425.00 0.96 TITAN 3,684.00 0.87 CIPLA 1,464.95 0.8 Top Nifty50 losers
Stock Feb 23 close Change (%) BHARTIARTL 1,124.40 -0.98 TCS 4,046.40 -1 ONGC 271.7 -1.09 ASIANPAINT 2,982.85 -1.15 MARUTI 11,520.00 -1.18 HCLTECH 1,664.40 -1.3 BPCL 617 -1.42 Share Market Today: Nifty PSU Bank, Nifty Oil & Gas, Nifty Metal, Nifty Bank worst hit among NSE's sectoral indices; Nifty Realty rises 1%
Index Feb 23 close Change (%) NIFTY PSU BANK 7,076.05 -1.15 NIFTY OIL & GAS 11,756.30 -0.43 NIFTY METAL 8,047.75 -0.27 NIFTY BANK 46,811.75 -0.23 NIFTY IT 38,045.65 -0.22 NIFTY FMCG 54,337.75 -0.15 NIFTY PRIVATE BANK 23,430.85 0 NIFTY FINANCIAL SERVICES 20,677.10 0.05 NIFTY AUTO 20,621.35 0.18 NIFTY HEALTHCARE INDEX 12,159.00 0.31 NIFTY PHARMA 19,048.40 0.42 NIFTY CONSUMER DURABLES 32,080.40 0.6 NIFTY REALTY 918.75 1 NIFTY MEDIA 2,164.30 1.36 Share Market Today: D-Street ends volatile session barely changed; Sensex down 15 pts, Nifty at 22,213
The Sensex ends 15.4 points lower at 73,142.8 while the Nifty50 settles at 22,212.7, down 4.8 points from its previous close.
Share Market Today LIVE: Indian Hotels shares have more than doubled in a year on the back of back-to-back strong results
Indian Hotels shares strengthen by as much as Rs 23.9, or 4.1 per cent, to an all-time high of Rs 602.8 apiece on BSE, taking its gains in a year to 100.9 per cent.
What's powering the steady rally in the Tata group stock?
- Seven straight quarters of strong results
- Strong growth in new business, at 34 per cent (Ginger, Ama & TajSATS)
- Better revenue per available room (RevPAR)
- Strong FY25 guidance
- Double-digit growth in consolidated revneue
According to Zee Business research, Indian Hotels' valuation stands at 52.6 times its FY25 price-to-earnings (PE) estimate.
Image: BSEIndia.com
Share Market Today LIVE: Buy Bajaj Finserv shares, says Sumeet Bagadia
Sumeet Bagadia of Choice Broking suggests buying Bajaj Finserv shares for targets of Rs 1,650 and Rs 1,675 with a stop loss at Rs 1,585.
Bagadia recommends holding on to existing positions in Bajaj Fiannce, and even buying at current levels. He says that it is important for the stock to take out Rs 6,775-6,790 levels before a strong upmove next week.
Share Market Today LIVE: European equities inches up led by BASF, StanChart as investors await ECB remarks
European shares begin the day with mild gains, led by Standard Chartered and BASF after their results.
However, investors appear to be cautious ahead of comments from European Central Bank policymakers due later in the day.
The pan-European Stoxx 600 index is up 0.2 per cent few minutes into the day's trade. Here's where some of the key indices from the region stand:
- UK's FTSE 100: up 0.2 per cent
- France's CAC: up 0.1 per cent
- Germany's DAX: flat
Share Market Today LIVE: Prataap Snacks shares recover half of intraday losses
Prataap Snacks (DIAMONDYD) shares, which has taken a beating after the snacks maker denied reports suggesting ITC was eyeing a stake in it, are down 4.4 per cent at Rs 1,172.5 apiece at this hour.
Earlier in the day, the stock fell as much as 9.4 per cent to Rs 1,111 apiece.
Share Market Today LIVE: Bandhan Bank appoints CFO; shares in the green
Bandhan Bank shares are holding on to mild intraday gains. The stock is up 1.3 per cent at Rs 206.2 apiece at this hour, having gained as much as 1.7 per cent to Rs 207 apiece earlier in the day.
Bandhan Bank's board has approved the appointment of Rajeev Mantri as chief financial officer (CFO) and key managerial personnel (KMP) with immediate effect.
Mantri is a veteran banker with over 25 years of experience in banking and finance across India, Singapore and the UAE.
Abhijit Ghosh will head the finance and accounts division and also be a part of the senior management, according to a statement.
Share Market Today LIVE: Vodafone Idea shares soar; here's what's driving the gains
Vodafone Idea shares surge as much as 12.9 per cent to Rs 18.38 apiece to trade within four paise of a 52-week high registered on the first day of the year.
The telecom company has said that its board will meet on February 27 to consider a fund-raise proposal.
Share Market Today LIVE: Buy Astral Ltd, IRCTC shares, says Siddharth Rai Mangala
Siddharth Rai Mangala of StockBox Technologies shares two recommendations with Zee Business viewers:
- Buy Astral shares for targets of Rs 2,100 and Rs 2,150 with a stop loss at Rs 2,010
- Buy IRCTC shares for targets of Rs 995 and Rs 1,010 with a stop loss at Rs 959
Share Market Today LIVE: IRCTC shares gain after tie-up with Swiggy
Indian Railway Catering and Tourism Corporation (IRCTC) shares gain by Rs 34.1, or 3.6 per cent, at the strongest level of the day to touch Rs 970 apiece on BSE.
What's driving the gains in IRCTC stock?
The railway ticketing and catering service provider has tied up with food aggregator Swiggy for the supply and delivery of pre-ordered meals through the IRCTC e-catering portal.
Share Market Today LIVE: Sona BLW becomes first auto ancillary company to receive PLI scheme certification
Sona BLW Precision Forgings (SONACOMS) shares rise by as much as Rs 34.8, or 5.7 per cent, to Rs 648 apiece on BSE, gaining for a second straight day, after the auto parts manufacturer receives certification for hub wheel drive motors for electric two-wheelers under the government's Production-Linked Incentive (PLI) scheme for the sector.
Share Market Today LIVE: Can Grasim's aggressive disrupt a market dominated by Asian Paints, Berger Paints?
Aditya Birla group flagship Grasim Industries commenced operations at three manufacturing plants for its new decorative paints brand, Birla Opus, on Thursday as part of its strategic foray into the segment, first announced in January 2021. The group is targeting an initial revenue of Rs 10,000 crore and profitability within three years of full operations of its new venture of decorative paints business, its chairman Kumar Mangalam Birla said, as he inaugurated the plants located in Haryana's Panipat, Punjab's Ludhiana and Tamil Nadu's Cheyyar.
Analysts say factors such as the company's pan-India reach and wide product offering are likely to boost its profitability while disrupting the paints industry, currently dominated by Asian Paints and Berger Paints.
Read more on what analysts make of entry of Grasim’s Birla Opus for paints industry
Share Market Today LIVE: Should you buy, sell or hold Bharti Airtel, ICICI Bank, Axis Bank, Asian Paints stocks today? Here is what brokerages recommend
Jefferies has maintained a 'buy' call on Grasim Industries with a target of Rs 2,600 per share, while Morgan Stanley has retained 'overweight' with a target of Rs 2,430.
Goldman Sachs has a 'neutral' rating on the ICICI Bank stock with a target of Rs 1,086.
Share Market Today LIVE: Buy PI Industries shares, says Astha Jain
Astha Jain of Hem Securities suggests buying PI Industries shares for a target of Rs 4,040 with a stop loss at Rs 3,250.
Share Market Today LIVE: Grasim shares inch lower, within sight of all-time high
The stock of Grasim Industries, which inaugurated three plants of its paints brand Birla Opus on Thursday, is down half a per cent at Rs 2,190.1 apiece at this hour, not far from a record high of Rs 2,245 registered the previous day.
Share Market Today: Buy Neogen Chemicals shares, says Ambareesh Baliga
In conversation with Zee Business Managing Editor Anil Singhvi, independent market analyst Ambareesh Baliga recommends buying Neogen Chemicals shares for a target of Rs 1,760 with a perspective of 3-6 months.
Baliga's target implies an upside of 32.4 per cent in the stock from its previous close.
Share Market Today LIVE: Buy Greenply shares, says Jay Thakkar
Jay Thakkar of ICICI Securities has a 'buy' call on Greenply Industries shares over a 3-6 horizon.
Thakkar has placed his target for Greenply shares at Rs 360 with a stop loss at Rs 186.
Share Market Today: Buy Indus Towers shares, says Rajesh Palviya
Rajesh Palviya of Axis Securities suggests buying Indus Towers shares for targets of Rs 270 and Rs 280 with a stop loss at Rs 225.
Share Market Today: Buy IKIO Lighting shares, says Ambareesh Baliga
Independent market analyst Ambareesh Baliga recommends buying IKIO Lighting shares for a target of Rs 400 with a perspective of 9-12 months.
Baliga's target implies an upside of 37.6 per cent from Thursday's close.
The stock of the LED lighting solutions provider has declined 5.9 per cent so far in 2024.
Share Market Today LIVE: Nalco shares trade ex-dividend
National Aluminium Company (NALCO) shares are down 0.4 per cent at Rs 161.1 apiece on BSE at this hour, trading ex-dividend.
Earlier, the PSU aluminum giant declared a second interim dividend, of Rs 2 per share, for the current financial year.
Share Market Today LIVE: Tech Mahindra, Eicher Motors, Godrej Properties among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Sacchitanand Uttekar, Rajesh Palviya, Siddharth Sedani and Sumeet Bagadia share their top stock recommendations in this special segment, Pick of the Day.
Bansal of Rakesh Bansal Ventures recommends buying Mahanagar Gas Ltd (MGL) shares for a target of Rs 1,588 with a stop loss at Rs 1,500. Uttekar of Tradebulls Securities suggests investor buy Tech Mahindra futures for targets of Rs 1,360 and Rs 1,380 with a stop loss at Rs 1,308.
Share Market Today LIVE: Titan, Bajaj Finserv, Tech Mahindra, Wipro top Sensex gainers; Bharti Airtel, Asian Paints, NTPC, Power Grid top losers
Take a glance at the 30-scrip basket 15 minutes into the day's trade:
Image: BSEIndia.com
Share Market Today LIVE | Nifty at 22,250, Sensex trade over 100 pts higher in opening deals
Nifty 50
Source: NSESensex
Source: BSE
NIFTY AT ALL-TIME HIGH | Nifty scales fresh peak of 22,297.5
Currency Update | Rupee slips 1 paisa to 82.86 against US dollar in early trade
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 22,025-22,125 levels and a strong buy zone at 21,900-22,000 levels on Friday, February 23. For the Nifty Bank, he expects support to come in at 46,425-46,600 levels and a strong buy zone at 46,175-46,325 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Stocks to Watch | Bajaj Auto, IRCTC, Oil India, Vi, Prataap Snacks
Here are some stocks that will be in focus on Friday, February 23:
Bajaj Auto: The two-wheeler maker invested Rs 45.75 crore on February 22, 2024, in Yulu Bikes.
After the aforesaid fresh investment, the company’s shareholding in Yulu Bikes now stands at 18.8 per cent.
Power Finance Corporation: The company's board will consider raising resources through the issuance of bonds, term loans, commercial paper, etc., from domestic and international markets in a meeting on February 29.
Vodafone Idea: The company's board will consider raising funds in a meeting on February 27, 2024.
IRCTC: The company tied up with Bundl Technologies Pvt. Ltd. (Swiggy Foods) for the supply and delivery of pre-ordered meals through the IRCTC e-catering portal. The first phase, as a PoC (Proof of Concept), will be conducted at four railway stations, i.e., Bengaluru, Bhubaneswar, Vijayawada, and Visakhapatnam. Read more
Share Market Today LIVE | Nifty 50 set to hit record high at open, surfing global rally
Blue-chip index Nifty 50 is set to hit a record high for the fifth straight session on Friday, moving in tandem with a global technology stocks-led rally that was triggered by AI-bellwether Nvidia's stellar earnings.
Share Market Today LIVE | GIFT Nifty futures indicate a positive start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 67.75 points or 0.30 per cent at 22,311 ahead of the opening bell on Dalal Street.
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