Share Market HIGHLIGHTS: Sensex ends 353 pts lower, Nifty gives up 22,150 dragged by IT, financial shares; Asian Paints drops 4%
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex finished a volatile session in the red on Monday, February 26, dragged by IT and financial stocks. Catch all the highlights of the February 26 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 fell on Monday, February 26, amid selling pressure in IT and financial shares. Among heavyweights, weakness in Infosys, Tata Consultancy Services (TCS), Asian Paints, ICICI Bank and Bharti Airtel shares weighed on both headline gauges, whereas strength in counters such as Larsen & Toubro, Power Grid, HDFC Bank and HUL shares lent some support.
Catch all the highlights of the February 26 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: Broader indices Nifty Midcap 100, Nifty Smallcap 100 decline up to 0.4%
Index Feb 26 close Change (%) NIFTY MIDCAP 100 49,102.30 -0.36 NIFTY 500 20,255.80 -0.28 NIFTY SMALLCAP 100 16,133.15 -0.26 The Nifty 500, NSE's broadest index, settles with a loss of 0.3 per cent for the day.
Share Market Today: Bharti Airtel, LTIMindtree, JSW Steel, Tata Steel, Titan worst hit mong 37 Nifty losers; L&T, Power Grid, Tata Consumer among top gainers
Top Nifty50 gainers
Index Feb 26 close Change (%) LT 3,470.35 2.43 POWERGRID 287.55 1.99 ADANIENT 3,328.00 1.67 TATACONSUM 1,178.00 1.53 SBILIFE 1,552.00 1.49 BPCL 626 1.3 ADANIPORTS 1,335.00 1.08 EICHERMOT 3,955.00 0.71 HINDUNILVR 2,401.95 0.33 BAJAJ-AUTO 8,450.00 0.15 Top Nifty50 losers
Index Feb 26 close Change (%) BHARTIARTL 1,110.75 -1.33 LTIM 5,465.00 -1.4 JSWSTEEL 808.75 -1.49 TATASTEEL 142.6 -1.96 TITAN 3,619.00 -1.98 TECHM 1,295.80 -2 DIVISLAB 3,573.25 -2.05 HINDALCO 505.55 -2.47 APOLLOHOSP 6,596.75 -2.62 ASIANPAINT 2,868.00 -3.95 Share Market Today: Nifty IT, Nifty Metal, Nifty Consumer Durables top losers among NSE's sectoral indices; Nifty Oil & Gas, Nifty Auto, Nifty Realty eke out gains of 0.1%
Index CMP Change (%) NIFTY IT 37,598.65 -1.17 NIFTY METAL 7,971.75 -0.94 NIFTY CONSUMER DURABLES 31,795.20 -0.89 NIFTY HEALTHCARE INDEX 12,056.30 -0.84 NIFTY BANK 46,576.50 -0.5 NIFTY PSU BANK 7,040.65 -0.5 NIFTY PRIVATE BANK 23,317.20 -0.49 NIFTY PHARMA 18,956.45 -0.48 NIFTY MEDIA 2,156.40 -0.37 NIFTY FINANCIAL SERVICES 20,619.70 -0.28 NIFTY FMCG 54,317.30 -0.04 NIFTY REALTY 919.35 0.07 NIFTY AUTO 20,642.40 0.1 NIFTY OIL & GAS 11,769.90 0.12 Share Market Today: Sensex ends 353 pts lower, Nifty50 slides to 22,122 amid weakness in IT, financial stocks
Both benchmark indices finish the day about half a per cent lower.
The Sensex sheds 352.7 points to settle at 72,790.1 and the Nifty50 shuts shop at 22,122.1, down 90.7 points from its previous close.
Share Market Today LIVE | Transformers & Rectifiers soars after company bags Rs 232 crore order from Power Grid
Transformers and Rectifiers (India) Ltd (TRIL) shares are locked in the upper circuit on NSE at Rs 361.4, after the company received a contract worth Rs 232 crore from Power Grid Corporation of India. "This is to inform you that Transformers and Rectifiers (India) Limited has been awarded orders of total contract value of Rs 232 crore from Power Grid Corporation of India Limited," the company said in a regulatory filing on Saturday. Read more
Share Market Today LIVE | Nifty Bank trades over 100 pts lower
Source: NSE
Share Market Today LIVE: Infosys, TCS, Asian Paints, Bharti Airtel RIL weigh on Sensex
Take a look at the top movers in the 30-scrip basket:
Image: BSEIndia.com
Share Market Today LIVE | This PSU jumps 65% in 3 months, JP Morgan raises target to Rs 175; is it right time to enter the stock?
Shares of state-owned GAIL (India) remained on investors' radar on Monday, February 26, after JPMorgan raised the target by Rs 5 on the PSU stock to Rs 175 from Rs 170 earlier. The global brokerage has maintained a 'neutral' rating on the Maharatna company stock.
"Multiples doubled from c.6x P/E to about 12x P/E. GAIL’s trading segment is likely to report strong earnings in March 2024 as well," the global brokerage said in its note. According to the brokerage, the recent collapse in US Henry Hub prices combined with stable oil prices will drive GAIL’s trading margins up quarter-on-quarter (QoQ), while consensus projects a quarterly decline.
GAIL share price history: How GAIL shares have fared in the recent past
The natural gas transmission company stock has jumped 65 per cent in three months, outperforming the benchmark index Nifty, which rallied 12 per cent in the duration, as per Zee Business Research. Read more
Share Market Today LIVE | As Nvidia hits all-time high, can Indians buy shares of chipmaker giant?
Microchip giant Nvidia is on a roll. On Friday, it crossed the barrier of USD 2 trillion (USD 2,000 billion). That's precisely more than half of India's total GDP.
On Thursday, it drove up its market value by more than USD 277 billion, a one-day gain record on Wall Street. That's more than the GDPs of over 150 nations across the world. As per NASDAQ's website, the market value of the chipmaker stood at $1.97 trillion after the market closed on Friday. On the same day, the Nvidia stock also hit an all-time high of $823.94. Those with the stock of the US microchip company have been having a field day for the last few days. Read more
Share Market Today LIVE | Anand Rathi sees 28% upside in this recently listed hospitality stock; take a look
Brokerage firm Anand Rathi has initiated coverage on newly listed Apeejay Surrendra Park Hotels and sees a 28 per cent upside in the stock from Friday's closing price of Rs 222.5 apiece. The brokerage has given a 'buy' call on the stock for a target of Rs 285 apiece.
Anand Rathi is bullish on the hotel company's diversified categories across luxury and upscale through The Park brand and upper mid-market through Zone by The Park.
"The company operates 30 hotels in the luxury categories: boutique upscale (The Park, The Park Collection) and upper-midscale (Zone by the Park, Zone Connect by the Park) across India at metropolises such as Kolkata, New Delhi, Chennai, Hyderabad, Bengaluru, Mumbai, and other tier 2/3 cities," as per the report. Read more
Share Market Today LIVE | SBI Card trades lower as Morgan Stanely maintains equal weight call on decline in active credit cards in January
Shares of SBI Card trade lower by over 1 per cent as global brokerage Morgan Stanley maintained an 'equal weight' view' on the stock with a target of Rs 750. The equal weight rating symbolises that the stock's performance will be in line with the index. The brokerage maintains that the company saw a decline in the number of active credit cards in January by 96 basis points on year and 17 basis points on month, with their market share at 18.77 per cent. However, monthly credit card spending rose 18.4 per cent on-year for January, while the same was at 17.7 per cent in the previous month. Read more
Share Market Today LIVE | JSW Infrastructure hits all-time high after firm gets contract from Chidambaranar Port Authority
SW Infrastructure hit an all-time high of Rs 276 on BSE after the Jindal group company got a letter of award from Chidambaranar Port Authority.
What is JSW Infrastructure's order?
JSW Infrastructure has got a letter of award for the "Mechanization of North Cargo Berth-III (NCB-III) for Handling Dry Bulk cargo at V.O. Chidambaranar Port on Design, Build, Finance, Operate and Transfer (DBFOT) Basis". Read more
Share Market Today LIVE | HUDCO shares jump 7%—here is what is fuelling the rally
Shares of state-owned Housing and Urban Development Corporation Ltd (HUDCO) zoom after the company informed the exchanges on February 23 that it would sell a 0.17 per cent stake through the open market. The HUDCO stock gains as much as 7.2 per cent to the day's high of Rs 213.8 on the NSE, continuing the rising trend for the second trading session.
Here are other key details.
What is the purpose of the sale?
The seller has conveyed its intention to undertake the proposed sale to comply with the minimum public shareholding norm of 25 per cent, according to the filing.
Who is the promoter?
The President of India, the shareholding promoter of the company, proposes to divest part of its shareholding in the company. Read more
Share Market Today LIVE | Worst day in 20 months for Rain Industries investors; here is what triggered it
Rain Industries shares fall sharply after the Hyderabad-headquartered company, engaged in the manufacturing of carbon, advanced materials and cement, reported a weak set of quarterly numbers. The Rain Industries stock tumbles by as much as Rs 23.3, or 11.3 per cent, to Rs 183.1 apiece on BSE, its biggest intraday fall since June 20, 2022.
On Saturday, the company reported a consolidated net loss of Rs 1,118.8 crore for the quarter ended December 31, 2023, in stark contrast to a consolidated net profit of Rs 89.5 crore for the corresponding period a year ago. Its revenue from operations for the fourth quarter of the year stood at Rs 4,100.6 crore, a decrease of 24.9 per cent on a year-on-year basis. Read more
Share Market Today LIVE | Nifty slides below 22,150, Sensex drops over 250 pts
Share Market Today LIVE | CLSA downgrades Asian Paints to 'Sell', saying its growth and margins will not be immune to competitive pressure
Shares of Asian Paints trade in the red as most global brokerages have sharply cut their target prices for the counter, saying the entry of Grasim Industries in the paint sector is set to intensify the competition and that Asian Paints does not look immune to it.
CLSA, for instance, has downgraded Asian Paints to 'Sell' from 'Underperform' and has slashed the target price to Rs 2,425 from Rs 3,215 earlier, a steep 24.57 per cent cut. In its note, the global brokerage said that the competitive intensity in the paint sector is likely to heat up significantly with the advent of Grasim Industries' Birla Opus. Read more
Share Market Today LIVE | Should you buy Paytm, Cipla, L&T, Asian Paints, other stocks today?
Here's what Goldman Sachs, Jefferies, Macquarie, JPMorgan, Citi, Morgan Stanley, CLSA and Nomura make of stocks such as Paytm, Cipla, L&T and Asian Paints.
Asian Paints share price target:
CLSA has a 'sell' call on the Asian Paints stock with a target of Rs 2,425.
Goldman Sachs has maintained a 'neutral' rating on Asian Paints shares with a target of Rs 2,825.
Macquarie has maintained an 'outperform' rating on Asian Paints with a target of Rs 4,000
Grasim share price target:
Citi has maintained a 'buy' call on the Grasim Industries stock with a target of Rs 2,650.
L&T share price target:
Both Jefferies and CLSA have maintained a 'buy' call on the Larsen and Toubro (L&T) stock with a target of Rs 4,135 and Rs 4,360, respectively. Read more
Dividend Stocks | NMDC, Suprajit Engineering, Natco Pharma, Jupiter Wagons stocks to trade ex-date this week
A bunch of stocks, including NMDC, Suprajit Engineering, Natco Pharma, Jupiter Wagons and Fineotex Chemical, are scheduled to trade ex-dividend during the trading week from February 26 to March 1.
Dividend stocks | Check out the complete list of stocks slated to trade ex-dividend during the week:
Ex-dividend date: Monday, February 26
Natco Pharma dividend
Natco Pharma has announced an interim dividend of Re 1.25 per equity share with a face value of Rs 2.
Gateway Distriparks dividend record date
Gateway Distriparks has announced an interim dividend of Re 0.75 per equity share with a face value of Rs 10.
Fineotex Chemical dividend record date
Fineotex Chemical has announced an interim dividend of Re 1.2 per equity share with a face value of Rs 2. Read more
Currency market | Rupee rises 2 paise to 82.89 against US dollar in early trade
Share Market Today LIVE | Nifty above 22,150, Sensex drops over 200 pts
Nifty 50
Source: NSESensex
Source: BSE
Stocks to Watch | Ashok Leyland, Paytm, Punjab & Sind Bank
Here are some stocks that will be in focus on Monday, February 26:
Paytm: Reserve Bank of India on Friday said that NPCI has been asked to examine the possibility of Paytm becoming a third-party application provider for continued UPI operations of the Paytm app.
Ashok Leyland: The company invested Rs 24.95 crore in TVS Trucks and Buses Private Limited (TVS Trucks) by way of shares.
KIOCL Ltd: The company situated in Mangalore, is planned to be suspended, with effect from February 24, 2024, due to the ongoing downward trend in pellet market condition.
Tips Industries: The board will consider buyback in a meeting on Wednesday, February 28, 2024.
Punjab & Sind Bank: The board will consider raising capital up to Rs 2000 crore within a period of 12 months from the date of approval.
HDFC Bank: The RBI has approved the stake sale of as much as 90 per cent in HDFC Credila by HDFC Bank. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a flat start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 4.35 points or 0.02 per cent at 2,2224.5 ahead of the opening bell on Dalal Street.
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