CLOSING BELL
The frontline indices swung in trade on Monday as investors monitored geo-political tensions between Russia and Ukraine. While the day began with reports that Russian President Vladimir Putin and his US counterpart Joe Biden had agreed in principle to a summit over the Ukraine crisis, the Kremlin later said there were no concrete plans yet for a summit. READ MORE
Against this backdrop, the S&P BSE Sensex gyrated 976 points intra-day but ended 149 points, or 0.38 per cent, lower at 57,683.5. The Nifty50, on the other hand, closed at 17,207, down 70 points or 0.4 per cent.
"Indian markets opened in red tracking global cues as investors continue to monitor Ukraine crisis amid rising tensions of potential invasion keeping investors on the edge for second consecutive week. During the afternoon session market pared some losses as buying in frontline stocks were aiding sentiment. Traders took some solace with Crisil Research's statement that India's industrial activity is expected to gather pace in the coming months owing to a gradual pick-up in consumption as well as investment demand. However, the relief rally couldn't hold long and markets drifted lower in closing session as fresh news over Ukraine crisis dampened the fragile sentiments," said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers.
Wipro, Infosys, PowerGrid, Shree Cement, Nestle India, ICICI Bank, and HDFC Bank were the top large-cap gainers today, up between 0.7 per cent and 1.7 per cent. On the downside, Hindalco, UPL, Sun Pharma, Adani Ports, Divis Labs, and TCS were the top drags, down up to 3.45 per cent.
In the broader markets, the BSE SmallCap index underperformed the benchmarks as it fell 2.2 per cent. The BSE MidCap index, on the other hand, was down 0.8 per cent.
Sectorally, the Nifty Media and Metal indices fell 2.7 per cent and 2.2 per cent, respectively, followed by the Nifty Pharma and PSB indices, down 1.4 per cent each. The Nifty Private Bank index, on the other hand, was the top gainer, up 0.3 per cent.
Buzzing stocks
Shares of listed
hotel companies rallied up to 20 per cent on the BSE in Monday's intra-day trade, supported by heavy volumes, on expectation of strong outlook. Chalet Hotels, for instance, surged 20 per cent to hit a 52-week high of Rs 301.40 on the back of two-fold jump in trading volumes.
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Vedant Fashions, the owner of ethnic wear brand Manyavar, were trading lower for the third straight day on Monday, falling 3.5 per cent intra-day to Rs 875, which is close to its issue price of Rs 866 per share on the BSE. This comes after the company made a decent market debut last week.
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InterGlobe Aviation – parent company of the low-cost airline IndiGo – were down 4 per cent at Rs 2,025 on the BSE in Monday's intra-day trade after one of its promoter and co-founder Rakesh Gangwal stepped down from the airline's board.
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Tata Consultancy Services (TCS) are in focus in Monday's trade ahead of ex-date for its share buyback tomorrow, February 22, 2022. The stock hit an intra-day low of Rs 3,705.80, falling 3 per cent from its intra-day high of Rs 3,812 on the BSE.
READ MORE Global markets
European markets advanced on Monday as hopes emerged for a diplomatic solution to Russia-Ukraine tensions. The pan-European Stoxx 600 index added 0.6 per cent in early trade, with banks climbing 1.1 per cent. Menawhile, in the US, markets are closed Monday for the Presidents Day holiday.
Shares in Asia-Pacific were mixed on Monday as investors continued to monitor the situation surrounding Ukraine, while China left its benchmark lending rate unchanged.
 "Sensex falls 149 pts; SmallCap index sheds 2% amid tepid global cues")
