In a day of mixed fortunes on the stock market, the Nifty managed to cling to the 22,200 mark, closing near the flatline. The Sensex experienced a modest dip of 15 points, settling at 73,143, while the Nifty slipped by 5 points, closing at 22,213. This comes as the Nifty hits a record high for the fifth consecutive session, showcasing the market's resilience amidst volatility.
BSE Midcap and Smallcap index zoomed by 175 points and 287 points respectively, outperforming benchmark. Telecom and consumer durables stocks were top gainers. But broadly, market witnessed an upside.
Indian rupee gained traction and further appreciated against the US dollar.The local unit traded at 82.87 per dollar, gaining by 0.7%. US dollar weakened against a basket of currency as investors gauge for clues of when will be Federal Reserve start trimming interest rates.
In early trade, Asian shares were also trader tarcking surge in Wall Street overnight. Investors sentiment gained after bumper earnjings of AI-giant Nvida.
In the previous session ,the Indian stock market witnessed a smart recovery , with the Sensex and Nifty 50 ending the day at their highest points, fueled by positive global cues. The Nifty 50 index reached a record high for the fourth consecutive session, crossing the earlier level of 22,249.40 and closing above 22,200 for the first time.
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Feb 23, 2024, 3:44 pm IST
Market Closes Near Flatline Amid Volatility, Nifty Holds 22,200
In a day of mixed fortunes on the stock market, the Nifty managed to cling to the 22,200 mark, closing near the flatline. The Sensex experienced a modest dip of 15 points, settling at 73,143, while the Nifty slipped by 5 points, closing at 22,213. This comes as the Nifty hits a record high for the fifth consecutive session, showcasing the market's resilience amidst volatility.
Feb 23, 2024, 3:27 pm IST
Westlife Foodworld Slides 2% Despits McDonald's Clarification Of Using 'High-Quality Cheese'
Despite McDonald's clarification that it uses only 'high-quality' genuine cheese, Westlife Foodworld experiences a 2% decline. In response to recent reports regarding the exclusion of 'Cheese' from McDonald's menu in Maharashtra, the management assures customers that all cheese-containing products strictly adhere to the use of authentic and high-quality cheese.
Feb 23, 2024, 3:13 pm IST
L&T Bags Contract For Construction of Multi-Storey Residential Towers In Thane
Larsen & Toubro (L&T) has successfully clinched a contract from a renowned real estate developer for the construction of multi-storey residential towers in Thane. The scope of the order encompasses the construction of core and shell works for five towers, each soaring to 62 floors. Additionally, the project includes the development of an associated parking area, incorporating basements, ground level, and five podiums.
Feb 23, 2024, 3:04 pm IST
Kalyani Steel Shares Surge 9% Following Rs 11,750 Crore MoU With Odisha Govt
On Friday, Kalyani Steel experienced a notable surge in its shares, climbing by 9% after formalizing a Memorandum of Understanding (MoU) with the Odisha government. Under this agreement, the company is set to make a substantial investment of Rs 11,750 crore to establish manufacturing plants within the state.
In response to this significant development, the stock of Kalyani Steel saw a rapid increase, reaching an intra-day peak of Rs 889 per share on the National Stock Exchange (NSE). As of 2:10 pm, the stock was trading at Rs 864.90, indicating a noteworthy 5.53% rise.
Feb 23, 2024, 2:32 pm IST
Nvidia Surpasses Amazon, Gains 7 Billion In Market Cap After Healthy Earnings
Nvidia witnessed a surge in market capitalization, adding 7 billion after reporting healthy earnings, surpassing Amazon to claim the third position in the market cap rankings. The US-based chip giant's shares closed 16% higher during the recent US trading session, propelled by stellar financial results that exceeded analyst expectations by a significant margin.
The stock price reached a peak at 5 per share, contributing to the substantial increase in market value, pushing Nvidia's market capitalization to .96 trillion. This surge in value not only reflects the company's robust financial performance but also elevates Nvidia to the position of the third-largest company in the United States by market capitalization, surpassing Amazon, previously holding that spot.
Nvidia's fiscal fourth-quarter revenue stood at an impressive .1 billion, marking an extraordinary year-on-year increase of 265%. Simultaneously, the net income experienced a surge of 769%.
Feb 23, 2024, 2:08 pm IST
Zuari Industries Shares Hit Record High Following Land Sale Agreement In Goa
Zuari Industries Ltd witnessed a historic surge as its shares reached an all-time high following a significant land sale deal in Goa worth more than Rs 83 crore. On Friday, February 23, the company experienced a remarkable increase of over 13%, reaching its 52-week pinnacle.
The surge was triggered by the execution of a sale deed between Zuari Industries Ltd and Zuari Infinity Private Ltd, transferring specific land parcels in Goa for a total consideration of Rs 83.45 crore. According to a filing with the stock exchange, the deed was formalized on February 22, encompassing land parcels measuring 2,25,539 square meters in Sancoale village, located under Mormugao Taluka in South Goa.
Feb 23, 2024, 2:02 pm IST
1:10, 1:1 Stock Splits: Rs 250-To-Rs 1,400, HDFC Bank Multiplies Investors Money; Buy For Rs 2,100 Target
India's largest bank in terms of market share, HDFC Bank has witnessed a see-saw-like sentiment so far in 2024, from investors after its Q3 results for FY24. Year-to-date, both HDFC Bank's share price and ADR have dropped by double digits. But despite the latest hiccups, HDFC Bank is a star in its sector, a multi-bagger that not only increase the number of shares for investors but has provided triple-digit returns since its first stock split.
Kalyani Steels Limited Bags Two Orders From Odisha State Government
Kalyani Steels Limited has signed a Memorandum of Understanding (MOU) with the Government of Odisha today i.e. on February 23, 2024 for setting up 0.7 MTPA Integrated Advanced Specialty Steel & Automotive Components Manufacturing Complex with an estimated investment of Rs.6,626 Crore and ntegrated Titanium Metal / Alloy and Aerospace & Defense Components Manufacturing Plant of 10,000 TPA capacity with an estimated investment of Rs.5,124 Crore, in the State of Odisha.
Feb 23, 2024, 1:22 pm IST
Jio Financial Services Shares Surged More than 10% In Friday's Session
Amidst the Paytm investigation and central bank's orders for freezing operations, JFS shares have witnessed an upward trend, rising more than 32% since the beginning of February this year. Currently the prices remain near all-time high range of Rs. 335/- per share, rising 10.75% or Rs. 32.5/- in today's session, a hike of around 50% in last three months.
Feb 23, 2024, 1:00 pm IST
JK Cements Completes 100% Acquisition In Toshali Cement
JK Cements Acquires 100% Stake In Odisha-based Toshali Cement. The company ranks among the top ten cement producers in the world and has a production capacity of 20 million tonnes per year. The newly acquired Toshali Cement would add 0.6 million tonnes per year for the consolidated production of JK Cement. JK cement shares surged 1.71% or Rs. 73/- to reach Rs. 4,349/- per share in today's session.
Feb 23, 2024, 12:33 pm IST
Shree Ajit Pulp and Paper Limited Gets Downgrading Credit Ratings
Credit Rating Agency ICRA has downgraded the credit rating of Shree Ajit Pulp and Paper Limited. The long-term Rating has been revised to [ICRA]A- (pronounced ICRA A minus) from [ICRA] and the short-term Rating has been revised to [ICRA]A2+ (pronounced ICRA A two plus) from [ICRA]A1 (pronounced ICRA A one) (“Rating”). The rating agency considered the delay in the full-fledged commercialization of Unit II, leading to a sharp decrease in revenues and the earnings profile, and its resultant impact on the credit profile for FY2024 and FY2025, compared to earlier ICRA expectations. ICRA anticipates SAPPL’s unit II full-fledged commercialization by September 2024, pushed back from the initial expectation of March 2024. This was due to the delay in the import of specialized machinery, which was originally slated for installation by March 2024; the same is now rescheduled to July/August 2024.
Feb 23, 2024, 12:09 pm IST
Mid-Session Performance Of Indian Markets Today
Indian markets by mid-day have rebounded from the previous day's closing levels, Sensex currently floats around 103 points in green at 73,261 while Nifty gained 0.09% or 20 Points at 22,235 points. Pharma and Insurance stocks rallied today, with Cipla and Dr. Reddy's Lab among the top gainers, climbing 1.5% and 1.36% respectively. On the other hand, Asian Paints fell the lowest by 1.3%, NTPC tumbled 1.07% and Airtel stocks were down 0.9%. Sectoral indices show mixed movements with Nifty media performing well above 1.2% since yesterday's session. In contrast, Nifty PSU Bank fell the lowest by 0.8%.
Feb 23, 2024, 11:02 am IST
Why Indian Bank Stocks Are Worrying Goldman Sachs
The main Indian banks, State Bank of India (SBI), ICICI Bank, and Yes Bank have had their ratings reduced by global brokerage firm Goldman Sachs, which cited growing challenges for the country's financial services industry. SBI has been downgraded to "Neutral" by the company, with a target price of ₹741 per share.
Feb 23, 2024, 10:59 am IST
Top 5 Gainers and Losers Today
Stock Market Live Updates
Feb 23, 2024, 10:32 am IST
Top Nifty 50 Gainer: Dr. Reddy's Laboratories
The top Nifty 50 gainer is Dr Reddy's Laboratories, which is up 1.86%.
In the last six trading sessions, the stock has increased four times.
In the last year, it has increased by 45.45%.
Feb 23, 2024, 10:08 am IST
Adani Wilmar Maintains Profits
Adani Wilmar's stock is up more than 7% for the second day in a row today.
Five of the last six trading sessions have seen gains for the stock.
Over the previous month, it increased by 10.14%.
Feb 23, 2024, 9:39 am IST
Rupee Price
Rahul Kalantri, VP Commodities, Mehta said, "Based on the daily technical chart, the pair has support at 82.74-82.60, while resistance is noted at 83.05-83.15. With the pair trading below its support level of 82.98, it is anticipated to fluctuate within the range of 82.60-83.15 during today's session.
Feb 23, 2024, 9:38 am IST
Crude Oil Outlook
Rahul Kalantri, VP Commodities, Mehta Equities said: Despite this surplus, crude oil prices received support, indicating a complex interplay of factors affecting the market. We anticipate continued volatility in crude oil prices during today's session. Technical analysis suggests that crude oil has a support level ranging from .50 to .90, with resistance expected between .90 and .60 for today's trading session. In INR, crude oil is anticipated to find support around Rs 6,460 to Rs 6,390, with resistance levels at Rs 6,590 to Rs 6,670.
Feb 23, 2024, 9:38 am IST
Gold Outlook
Rahul Kalantri, VP Commodities, Mehta Equities said, "Expectations are for gold and silver prices to remain volatile in today’s session. Gold finds support at 12-1998 and resistance at 39-2051, while silver's support lies at .70-21.55 with resistance at .08-23.22. In terms of the INR, gold has support at Rs61,780-61,610 and resistance at Rs62,190 and Rs62,340, while silver finds support at Rs69,540-69,080 and resistance at Rs70,850 and Rs71,480."
Feb 23, 2024, 9:38 am IST
Top Losers in Early Trade:
Stocks like Bharti Airtel, Asian Paint, Power Grid, NTPC, and Maruti Suzuki shares were top losers in early session of Friday.
Feb 23, 2024, 9:37 am IST
Top Gainers In Early Trade
Stocks like Titan, Wipro, Bajaj Finserv, Tech Mahindra and HDFC Bank were top gainers.
Feb 23, 2024, 9:37 am IST
Nifty Price
Nifty traded at 22,240.75, up by 23.30 points or 0.1%. The benchmark opened at 22,290.00, and traded in the range of 22,297.50 to 22,227.65.
Feb 23, 2024, 9:36 am IST
Sensex Price In Earky Trade
Sensex traded at 73,232.95, up by 74.71 points or 0.10%. The benchmark opened at 73,394.44, and traded in the range of 73,413.93 to 73,183.33 respectively.
Feb 23, 2024, 9:24 am IST
Rupee Continues To Appreciate
Indian rupee gained traction and further appreciated against the US dollar.The local unit traded at 82.87 per dollar, gaining by 0.7%. US dollar weakened against a basket of currency as investors gauge for clues of when will be Federal Reserve start trimming interest rates.
Feb 23, 2024, 8:41 am IST
South Indian Stock In FOCUS
South Indian Bank said that its board of directors authorised raising up to Rs 1,151 crore through a rights issue to finance its expansion goals. Following the announcement, the bank's shares closed 9.71% higher at Rs 35.70 per share on the BSE. According to a regulatory filing from South Indian Bank, the board has authorised the proposal to issue 5,231,85,254 rights issue on a fully-paid up basis for a total amount of up to Rs 1,151.01 crores assuming full subscription with regard to rights equity shares.
Feb 23, 2024, 8:32 am IST
Stocks To Buy Today
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher has recommended to buy three stocks on February 23. They are -- 1) BUY BAJAJ AUTO cmp 7095.90 Stop Loss 6970 Target 7350;2) BUY ZYDUS LIFE cmp 729 Stop Loss 718 Target 757; and 3) BUY NBCC cmp 105.25 Stop Loss 102 Target 112.
Feb 23, 2024, 8:30 am IST
Market Previous Session
The Sensex surged 535 points to 73,158, and the Nifty gained 162 points to finish at 22,217, showcasing a resilient market sentiment. Despite the overall positive trend, the Nifty Bank experienced a minor setback, slipping 100 points to 46,920. The Midcap Index also faced a dip, losing 498 points to close at 49,128.
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