Sensex drops 533 pts in broad selling; IT, metals worst hit; VIX jumps 4%

Stock market highlights on Monday, February 26, 2024: The Nifty50 shut shop at 22,122, down 91 points or 0.41 per cent. The mid, small-cap indices fell up tp 0.3 per cent.

Closing Bell on Monday, February 26: Benchmark indices stayed lower on Monday amid broad-based profit booking. The S&P BSE Sensex closed 353 points, or 0.48 per cent, lower at 72,790 levels, while the Nifty50 shut shop at 22,122, down 91 points or 0.41 per cent.

Asian Paints, Tata Steel, Tech M, Titan, Bharti Airtel, JSW Steel, TCS, Axis Bank, Kotak Bank, Infosys, HCL Tech, IndusInd Bank, Bajaj Finance, and ICICI Bank were the top laggards today as they cracked between 1 per cent and 4 per cent.

In the broader markets, the BSE MidCap index slipped 0.38 per cent, and the BSE SmallCap 0.06 per cent. Volatility gauge, India VIX advanced 4.2 per cent. 

Among sectors, the Nifty Auto index was the only gainer (up 0.08 per cent). The Nifty IT, Metal, Pharma, and Bank indices were the top losers, down up to 1.25 per cent.

3:41 PM

Broader indices :: Mid, SmallCap indices close up to 0.38% lower

3:39 PM

Nifty Heatmap :: Adani stocks rally, help Nifty fare slightly better than Sensex

3:38 PM

Sensex Heatmap :: 26 of 30 index stocks close in red; L&T, HDFC Bank among outrunners

3:36 PM

CLOSING BELL :: Nifty holds 22,100 sa index falls for 2nd day

3:35 PM

CLOSING BELL :: Sensex slides over 350 pts

3:23 PM

RBI lifting curbs on forex non-deliverable forward arbitrage by banks

The RBI had imposed an informal ban on dollar/rupee arbitrage trades in August 2023, when it was intervening to prevent the rupee from slipping to a record low, while banks were taking advantage of price differences between the OTC and NDF markets. READ MORE

3:03 PM

Global economy weighed down by war, uncertainty & instability: WTO chief

The head of the World Trade Organisation warned on Monday that war, uncertainty and instability are weighing down the global economy and urged the bloc to embrace reform as elections across nearly half the world's population could bring new challenges. READ MORE

2:53 PM

Paytm up 5%: Here's why foreign brokerages remain bullish on the stock

Shares of One97 Communications (OCL), which provides financial services under the brand 'Paytm', and has a banking arm Paytm Payments Bank (PPBL), hit the 5 per cent upper circuit at Rs 428.10 on the National Stock Exchange (NSE) in Monday's intraday trade. READ MORE

2:41 PM

Adani Dharavi project's biz units to get SGST refund post redevelopment

SGST will be reimbursed by the state government's finance department and the business units will have to provide SGST payment details as proof while claiming the refund. READ MORE

2:31 PM

PB Fintech zooms 9%, hits 52-week high in weak market; stock up 41% in 2024

Shares of PB Fintech, the parent company of Policybazaar, jumped 9 per cent to a fresh 52-week high of Rs 1,119 per share on the BSE in Monday's otherwise weak session. At 1:25 PM, the benchmark S&P BSE Sensex was down 0.3 per cent as against 7 per cent rally in the counter. READ MORE

2:14 PM

Indian hotel industry to report 7-9% revenue growth in FY25: ICRA

The research firm said that spiritual tourism and Tier 2 cities are expected to contribute meaningfully to the overall demand in the next fiscal. READ MORE

2:00 PM

Rain Industries tumbles 11% on Q4 loss

Rain Industries reported a net loss of Rs 1,118.80 crore for the December quarter, while revenue from operations declined over 24% to Rs 4,101 crore. READ MORE

1:45 PM

Subhash Chandra 'not cooperating' with investigation, says Sebi

The Securities Appellate Tribunal (SAT) on Monday gave the market regulator 10 days to file a reply in an appeal filed by Essel Group Chairman Subhash Chandra in the alleged fund diversion case. READ MORE

1:29 PM

Alkem Labs sinks 14% to 3-month low on reports of tax evasion of Rs 1000 cr

Shares of Alkem Laboratories (Alkem) slumped 14 per cent on BSE to touch the lowest level in nearly three months in Monday's trade after reports said that the income tax department found tax evasion of over Rs 1,000 crore by the company. Read

1:15 PM

SpiceJet rallies over 4% as it settles dispute with Celestial Aviation

Shares of budget-carrier SpiceJet zoomed 4.4 per cent to Rs 70.4 apiece on the BSE in Monday's intraday trade after the airline told the National Company Law Tribunal (NCLT) that their dispute with aircraft lessor Celestial Aviation is "practically settled" and only formalities remain. Read