On February 19, Indian stock markets experienced a positive trend, with the Nifty reaching a new all-time high. The Sensex concluded the day, gaining 281.52 points or 0.39%, closing at 72,708.16. Similarly, the Nifty showed an uptick of 81.60 points or 0.37%, settling at 22,122.30. The market saw 2184 shares advancing, 1243 shares declining, and 123 shares remaining unchanged.
Top performers on the Nifty included Grasim Industries, Bajaj Finserv, Bajaj Auto, ICICI Bank, and Cipla, contributing to the positive momentum. Conversely, Coal India, SBI Life Insurance, L&T, Wipro, and HDFC Life faced losses during the trading session.
In terms of sectors, capital goods, IT, metal, and realty ended in negative territory, while auto, bank, FMCG, healthcare, oil & gas, and power displayed gains ranging from 0.3 to 1%.
The BSE Midcap index witnessed a modest increase of 0.3%, and the Smallcap index recorded a more substantial rise of 0.7%, reflecting the overall positive sentiment in the equity markets.
Last week, the Indian stock market continued its winning streak for the fourth consecutive day, with both the Sensex and Nifty 50 closing at a one-month high. The Nifty not only breached the psychologically significant 22,000 level but closed above it for the first time in the last month, showcasing a positive sentiment among investors.
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Feb 19, 2024, 3:44 pm IST
Market Ends With Healthy Gains; Nifty Above 22,100, Capital Goods And IT Lead
On February 19, Indian stock markets experienced a positive trend, with the Nifty reaching a new all-time high. The Sensex concluded the day, gaining 281.52 points or 0.39 percent, closing at 72,708.16. Similarly, the Nifty showed an uptick of 81.60 points or 0.37 percent, settling at 22,122.30. The market saw 2184 shares advancing, 1243 shares declining, and 123 shares remaining unchanged.
Top performers on the Nifty included Grasim Industries, Bajaj Finserv, Bajaj Auto, ICICI Bank, and Cipla, contributing to the positive momentum. Conversely, Coal India, SBI Life Insurance, L&T, Wipro, and HDFC Life faced losses during the trading session.
Policybazaar Insurance Brokers, a wholly-owned subsidiary of PB Fintech, has received in-principle approval from the Insurance Regulatory and Development Authority of India (IRDAI) for the enhancement of its license. The upgrade involves transitioning from a Direct Insurance Broker (Life & General) to a Composite Insurance Broker.
Feb 19, 2024, 2:50 pm IST
Gold Hits One-Week High Amidst Weaker Dollar And Rising Middle East Tensions
On Monday, gold prices climbed to a nearly one-week high, propelled by a modest retreat in the US Dollar and heightened tensions in the Middle East, boosting the safe-haven allure of the precious metal. As of 0758 GMT, spot gold recorded a 0.4% increase, reaching ,020.28 per ounce, marking its highest level since February 13. Simultaneously, US gold futures saw a 0.4% rise, reaching ,032.20 per ounce.
Feb 19, 2024, 2:35 pm IST
FACT Surges 8% Following Inclusion in FTSE All-World Index
The shares of FACT experience a nearly 8% surge after being incorporated into the FTSE All-World Index. As part of FTSE's semi-annual review, 16 Indian companies, including FACT, will see adjustments effective on March 15. Despite its modest performance in 2024, FACT has witnessed a remarkable threefold increase in the last 12 months, resulting in an impressive gain of 236%. Over the past three years, the stock has consistently delivered exceptional returns, surpassing 900%. The FTSE All-World Index, representing large and mid-cap stocks globally with India's weightage at 2.06% as of January 31, 2024, comprises 213 stocks.
Feb 19, 2024, 2:25 pm IST
Natco Pharma Hits 52-Week High Following Healthy Earnings
Natco Pharma, headquartered in Hyderabad, sustained its upward momentum on February 19, surging by more than 4.5% to reach a new 52-week high of Rs 1,108 per share on the NSE. With this surge, the company's market capitalization has now reached approximately Rs 18,385.63 crore.
Feb 19, 2024, 1:56 pm IST
CRISIL Upgrades PVR-Inox Ratings
The credit rating agency, CRISIL has upgraded the rating of the long-term bank facilities & long-term debt instruments to CRISIL AA/CRISIL PPMLD AA/Stable (upgraded from ‘CRISIL AA-/Positive’) and reaffirmed the credit rating of the short-term bank facilities & short-term debt instruments to CRIRIL A1+ (A one Plus). CRISIL Ratings expects a net addition of 100-120 screens every year, which, along with maintenance-related capital expenditure (capex), will entail a total annual capex of Rs 650-750 crore. This is expected to be funded largely through internal accrual and prudent use of debt.
Feb 19, 2024, 1:35 pm IST
IREDA and PNB to Co-Finance Green Energy Projects
Indian Renewable Energy Development Agency Ltd. (IREDA) and Punjab National Bank (PNB) have joined hands through the signing of a Memorandum of Understanding (MoU) aimed at advancing renewable energy initiatives across the nation. The agreement paves the way for joint efforts in co-lending and loan syndication for a diverse spectrum of Renewable Energy projects. Shri Pradip Kumar Das, CMD of IREDA, remarked, "This strategic partnership between IREDA and PNB marks a significant step in our commitment to accelerate the growth of renewable energy in the country. By combining our strengths and resources, we aim to provide robust financial support to a diverse range of Renewable Energy projects, fostering sustainability and environmental awareness. Through the MoU and prior agreements with other leading financial institutions, IREDA is well-positioned to fund large-scale renewable energy projects, aligning with the Hon’ble Prime Minister’s COP26 announcement to achieve a 500 GW Non-Fossil- based electricity generation capacity by 2030."
Feb 19, 2024, 1:15 pm IST
Tata Group Companies To Invest Rs 2,300 Crores in Karnataka Facilitating Regional Employment
The Karnataka state government and the Tata group of companies have signed a memorandum of understanding (MOU) on February 19th for investments worth Rs 2,300 crore. The investment by Air India and Tata Advanced Systems Limited (TASL) will provide employment opportunities for 1,650 people. TASL would invest in three projects near Bengaluru Airport and Kolar, a total investment of Rs 1,030 crore. These include a passenger to freighter aircraft conversion facility worth Rs. 420 crore, gun manufacturing facility for Rs 310 crore and aerospace & defence research and development in Karnataka of Rs 300 crore.
Feb 19, 2024, 12:54 pm IST
NALCO Undergoes Changes In Management Today
The National Aluminium Co. Ltd. on Monday declared the changes in key managerial positions in the company. The PSU has appointed Mr. Nayan Kumar Mohanty, Mr. Kallol Bikash Swain, Mr. Rasheed Waris, and Mr. Rajesh Kapoor as the Executive Directors of the company. All key managerial personnel have been associated with NALCO for more than two decades.
Feb 19, 2024, 12:32 pm IST
Mid-Day Performance Of Indian Markets Today
Sensex trades at 72,720 whilst Nifty grows by 0.5% or 100 points. As per indices, Nifty Consumer Durables and Nifty Media indices are leading the rally, trading in green by 1.9% and 0.8% respectively. Top gainers in the current session are Grasim, Bajaj Auto & Bajaj Finserve, climbing around 2.96%, 2.4%, and 2.38% respectively, while stocks like SBILife and L&T are trading in the red.
Feb 19, 2024, 12:08 pm IST
Adani Group Explores $ 2.6 Billion Funding Deal with West Asian Sovereign Funds
The Adani Group, a diversified Indian conglomerate, is reportedly in advanced discussions with prominent sovereign funds based in West Asia to secure funding of up to .6 billion. This potential move is aimed at fuelling the conglomerate's expansion plans, particularly in airport infrastructure and green hydrogen projects, as reported by Business Standard.
Indian rupee witnessed decline of 0.44 paise against US Dollar in morning trade on Monday.
Feb 19, 2024, 9:27 am IST
Midcap, Smallcap outperform
In the opening bell, BSE Smallcap was the top performer with 325 points surge, while BSE Midcap gained nearly 200 points as well.
Feb 19, 2024, 9:26 am IST
Top Gainers And Losers
Stocks like NTPC, Power Grid, SBI, ICICI Bank and ITC were top gainers. While Wipro, TCS, L&T, Axis Bank and IndusInd Bank were top bears.
Feb 19, 2024, 9:26 am IST
IT Top Bears, PSU Stocks Top Bulls
Selling IT stocks restrained the bulls in broader market. While auto, banking, capital goods, healthcare and consumer durables stocks were among top performers.
Feb 19, 2024, 9:25 am IST
Nifty 50 Price
Nifty 50 traded at 22,085.65, up by 44.95 points or 0.2%. While the 50-scrip benchmark opened at 22,103.45, and ranged from 22,107.60 to 22,062.80.
Feb 19, 2024, 9:24 am IST
Sensex Price
Sensex traded at 72,471.62, marginally up by 44.98 points. The 30-scrip benchmark opened at 72,627.60, and traded in the range of an intraday high and low of 72,675.46 and 72,467.30 respectively.
Feb 19, 2024, 8:43 am IST
Pre-Market Opening
Prashanth Tapse, Senior VP (Research), Mehta Equities said: Gift Nifty cautiously trades above dotted lines, hinting at potential wavering. Wall Street fell due to US PPI inflation, but Nifty sellers remain hesitant. Technicals show weakness confirmation below 21721, with hurdles at 22127. Bank Nifty strengthens on improving asset quality, facing resistance at 47100. Options data suggests a trading range of 21500-22500 for Nifty. Volatility index at 15.22, Put-Call Open Interest Ratio at 1.23. Await cues from FOMC and RBI minutes. Preferred trade: Buy Nifty (22041) with stop at 21701, targets 22127/22301. Buy Bank Nifty (46385) with stop at 45483, targets 46600/47100. Bullish on IPCA LABS, ADANI PORTS, and TORRENT PHARMA. Top stock to buy: ADANI ENTERPRISES (CMP 3224) with stop at 3097, targets 3301/3501, aggressive at 3677.
Feb 19, 2024, 8:36 am IST
Stocks To Buy Today:
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher recommended following stocks to buy: 1) BUY WEST COAST PAPER cmp 659.25 Stop Loss 647 Target 690; 2) BUY LARSEN & TOUBRO cmp 3386 Stop Loss 3335 Target 3500; 3) BUY BEML cmp 3142 Stop Loss 3095 Target 3240
Feb 19, 2024, 8:35 am IST
Previous Market Session
The Sensex surged by 376 points to reach 72,427, while the Nifty gained 130 points, closing at 22,041. The Nifty Bank also joined the rally, advancing by 166 points to settle at 46,385. The Midcap Index witnessed a substantial gain of 310 points, concluding the day at 49,132.
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