Indian Market updates: Nifty & Sensex down today

 

Indian Market updates Nifty & Sensex: Indian stock market started in a negative note as indicated by the SGX Nifty today in the morning. Asian markets were trading mixed after the Central Bank of China has cut its one-year loan prime rate by 10bps and five-year loan prime rate by 5 bps.

 

Indian Market updates Nifty & Sensex today

As indicated yesterday’s report, today the market was volatile in a tight range. In the end, the market closed in red ahead of the long weekend. At close, Nifty was down 45 points or 0. 37% and at 12080.90 while Sensex was declined 152.88 points or 0.37% and at 41170.10. 

The Bank Nifty has gained 104.60 points in the end and closed at 30942.80. Nifty midcap100 and smallcap 100 also gained today. Nifty midcap 100 gained 119.75 points or 0.67% whereas smallcap gained 22.20 points or 0.36% for the day.

The top five gainers in the Nifty50 index were IndusInd Bank, Tata Steel, SBI, Zee Entertainment, and ONGC. The losers in the Nifty50 index were Cipla, Asian Paints, HUL, TCS,  and IOC

In the Nifty midcap space, the gainers were Ajanta Pharma, Max Financials and losers were Oil Indian, Rajesh Exports. In the smallcap space the gainers were Trident, Suzlon Energy and the losers were TV18 Broadcast, Sobha.

Among the sectors today, the gainers were Banking & Finance, Electricals, Hospitality, Paper, Telecom, and Retail. The losing sectors for the day were IT & Software, Oil & Gas, Insurance, Industrial gas, and FMCG.

FIIs were the buyers after four consecutive days of selling. Today FIIs bought Rs 1495.25 crores and DIIs sold Rs 699.62 crores in the cash segment.

 

Stocks in the news

Thomas Cook board meeting scheduled on 26th February to consider and approve the proposal for buyback of equity shares of the company. The share price of Thomas Cook has gained 20% and closed at Rs 49.50 per share.

Sterlite Technologies has bagged an order worth Rs 1500 crore. The share price of Sterlite Technologies has gained 2.03% and closed at Rs 113.30 per share.

As per the economic times and other media sources, Axis Bank is going to acquire more than 20% stake in Max Life Insurance through a fresh issue of equity. The share price of Max Financial Services gained 9.34%  and closed at Rs 565 per share.

DHFL has reported Q3 earnings, its net profit is at Rs 934.4 crores as against Rs 313.6 crores and revenue was down 26.9% at Rs 2431.8 crore against Rs 3327 crore on YoY basis. The share price of DHFL gained 4.65% and closed at Rs 11.25 per share.

Shreyas Shipping and Logistics have sold one of its container Vessel for a total consideration of USD 3.5 million. The share price of Shreyas Shipping & Logistic has declined by 2.77% and closed at Rs 72.05 per share.

DoT is going to send notices to telecoms for non-payment of AGR dues. Dot to issue a separate notice to Tata Tele for non-payment of full AGR dues. Vodafone Idea today paid Rs 100 crore according to CNBCTV18. The share price of Vodafone Idea gained 4.76% and closed at Rs 4.40 per share.

 

Stocks in the news due to rating agencies & foreign brokerage house

CRISIL has downgraded Jayant Agro Organics’s long term credit rating, due to a fall in castor seed price. The share price of Jayant Agro Organics has declined by 3.32% and closed at Rs 90.20 per share.

Morgan Stanley has upgraded the Federal Bank stock to equal weight from underweight rating. The research house also raised the target to Rs 95 from Rs 80 per share. The share price of the Federal bank gained 3.61% and closed at Rs 87.50 per share.

The foreign research house Macquarie has maintained an underperform rating on Bandhan Bank with a target price of Rs 470. Despite this news, the share price of Bandhan Bank gained 0.25% and closed at Rs 415.95 per share.

CARE Rating maintained long term rating of Pitti Engineering with a revision in the outlook from the positive to stable on account of the proposed large debt-funded CAPEX for the expansion plans announced by the company. The share price of Pitti Engineering has gained 0.54% in NSE and closed at Rs 37.30 per share

Conclusions:

Tomorrow the Indian market is a holiday due to Maha Shivratri, the market will reopen on Monday 24th Feb. Visit our website for Indian market updates and Nifty and Bank Nifty views.

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