Sensex, Nifty end flat after volatile day; NTPC gains 3%, PSB index dips 2%

CLOSING BELL: Adani Enterprises, Apollo Hospitals, Coal India, Bajaj Auto, UPL, Sun Pharma, Tata Motors, HDFC Life, Ultratech Cement, TCS, and Wipro were the top laggards

9:51 AM

Trading Strategy :: VK Vijayakumar of Geojit picks sectors for this range-bound market

Market outlook

The market will continue to trade in a broad range of 17,750-18,150 since there are no triggers for a breakout or a breakdown crossing the upper or lower limit.

At lower levels, DIIs and retail investors will turn buyers and at higher levels FIIs will turn sellers. Trading opportunities are limited. But long-term investors can utilise the weakness in the market to buy high quality stocks in performing sectors.

Sectors to watch
Autos is a segment to watch since this segment is coming out of a 5-year downturn and its prospects look good, particularly in the premium segment.

Reports of very low hiring and retrenchment in the IT sector may impact sentiments in this space even though some mid caps like Persistent Systems are doing exceedingly well.

Rising deposit costs are feared to impact the margins of banks even though credit growth continues to be strong. Top names in banking are good buys on declines.

Views by: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

9:42 AM

MARKET CHECK :: Indices erase gains; Sensex turns negative

Sensex: 60,684.66, down 6.88 points or 0.01%

Nifty: 17,846.40, up 1.80 points or 0.01%

BSE MidCap: 24,682.65, up 26.57 points or 0.11%

BSE SmallCap: 27,962.3, down 39.96 points or 0.14%

9:37 AM

IFL Enterprises to mull stock split, bonus issue on March 9

Its board will meet on March 9, 2023 to consider the proposal for sub-division of the shares of the company and issuance of fully paid-up bonus shares to the members of the company.

9:36 AM

Marine Electricals wisn order from Goa Shipyard; stock up over 2%

9:33 AM

ACC, Ambuja Cementa to resume ops at Himachal Pradesh unit; stocks rally

ACC & Ambuja Cements will resume operations at Gagal & Darlaghat plants in Himachal Pradesh from February 21. The two and transporters in Himachal Pradesh reached an amicable solution to the dispute between them over freight rates. This has cleared the way for reopening of cement factories in Darlaghat and Barmana after 67 days.

9:31 AM

Tata Steel up 1% on fund raise plan

The board has approved Rs 2,150 crore of fund raise via issuing NCDs.

9:29 AM

Vedanta up 0.6% on finalising semiconductor unit in Gujarat

A joint venture of Indian conglomerate Vedanta and electronics manufacturing giant Foxconn has finalised the Dholera Special Investment Region near Ahmedabad city of Gujarat for setting up their semiconductor and display manufacturing facility, said a report. 

9:27 AM

Adani Green puts Rs 10,000-cr capex under review; stock lsides 4%

Adani Green Energy (AGEL) has decided to review its capital expenditure (capex) plan of Rs 10,000 crore for financial year 2023-24 (FY24). In a post-third quarter results call with its bond holders, AGEL’s management said this was a tentative target and was still under review. 

9:26 AM

Adani Ports eke out muted gains on loan payment

Adani group firm Adani Ports & SEZ paid Rs 1,500 crore loan and promised to repay more as the embattled conglomerate mapped a comeback strategy after a sellout triggered by a damning report by US-based Hindenburg Research. It will also pay another Rs 1,000 crore of commercial papers due in March (as per the payment scheme). 

9:24 AM

Sectoral check :: Bank stocks extend weakness

9:23 AM

Sectoral check :: Varun Beverages, Godrej Consumer, HUL among top FMCG gainers

9:22 AM

Broader markets :: BSE MidCap index outperforms peers

9:20 AM

Sectoral check :: Metal, FMCG, IT indices up 0.5%

9:18 AM

Sensex Heatmap :: NTPC, Tata Steel emerge as lead gainers on index; Axis Bank, Asian Paints down

9:17 AM

Opening Bell :: Nifty50 above 17,850 in early deals