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		Photo: Bloomberg</div></div>

CLOSING BELL: The BSE Sensex gained more than 600 points from the day's low; Tech Mahindra, Bharti Airtel and auto shares were the other major gainers on Wednesday.

sensex, BSE

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	<strong>Stock Market Highlights: </strong>The key benchmark indices notched-up decent gains in late trades on Wednesday led by index heavyweight Reliance Industries. The S&P Sensex vaulted 243 points to 61,275, while the NSE Nifty reclaimed the 18,000-mark, settling with gain of 86 points at 18,016.</div>
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	Earlier in the day, the Sensex slipped to a low of 60,750 tracking weak cues from the Asian peers, as a hotter-than-expected inflation in the US raised fears of more rate hikes. However, the BSE benchmark soon wiped-out losses, and surged to a high of 61,352 &ndash; up 602 points from the day&rsquo;s low towards the fag end of the day.&nbsp;<br />
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		&quot;The US inflation, though it slowed down compared to the previous month, came in higher than expected at 6.4% YoY. Higher inflation, combined with a strong labour market, has raised concerns that the Fed will remain hawkish for an extended period. Despite a sluggish start in the domestic market, recovery in the IT and auto sectors contributed to a positive finish. A reversal in the FII pattern to net buying has also helped maintain optimism in the domestic market.&quot;, said Vinod Nair, Head of Research at Geojit Financial Services in a note.</div>
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	<strong>Also read: <a href="https://www.business-standard.com/article/markets/mutual-fund-ownership-of-adani-group-stocks-is-not-very-high-equirus-123021500794_1.html" target="_blank">&#39;Mutual fund ownership of Adani group stocks is not very high&#39;</a></strong></div>
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	Among the Sensex 30 shares, Tech Mahindra zoomed nearly 6 per cent to Rs 1,071. Reliance Industries gained 2.2 per cent at Rs 2,431. Bajaj Finserv, Bharti Airtel, Tata Steel, Mahindra & Mahindra and Kotak Bank were the other major gainers. Nestle also moved up a per cent ahead of its Q3 results tomorrow. <a href="https://www.business-standard.com/article/markets/nestle-s-q4-revenues-may-rise-up-to-17-yoy-agri-inflation-to-dent-margins-123021500854_1.html?1676441613" target="_blank">READ PREVIEW</a></div>
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	On the other hand, Hindustan Unilever, ITC and Sun Pharma slipped over a per cent each.</div>
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	The broader indices also moved in tandem with the benchmarks. The BSE Midcap index advanced 0.7 per cent, and the Smallcap added 0.4 per cent.&nbsp;</div>
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	Sectorally, the IT, Auto and Realty indices gained over a per cent each. The overall breadth was marginally positive, with nearly 1,800 shares advancing versus 1,670 declining stocks on the BSE.</div>
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	<strong>Also read: <a href="https://www.business-standard.com/article/markets/aero-india-show-defence-stocks-a-good-long-term-bet-say-analysts-123021500910_1.html" target="_blank">Defence stocks a good long-term bet, say analysts</a></strong></div>
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	In the broader markets, Torrent Power soared over 10 per cent to Rs 504 after the company reported a 88 per cent growth in consolidated net profit at Rs 695 crore on a YoY basis. The company also announced an interim dividend of Rs 22 per share, including a special dividend of Rs 13 per share. <a href="https://www.business-standard.com/article/markets/torrent-power-soars-9-post-q3-results-announces-special-dividend-123021500718_1.html?1676435424" target="_blank">READ MORE</a></div>
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	On the other hand, Bharat Forge shed 4.4 per cent a day after reporting weak Q3 performance. The company&#39;s overseas operations posted an EBITDA loss of Rs 62 crore in December quarter due to ramp up related issues of the new Al forgings capacities in Germany and the US. <a href="https://www.business-standard.com/article/markets/bharat-forge-dips-7-on-weak-performance-of-overseas-subsidiaries-in-q3-123021500781_1.html?1676438334" target="_blank">READ MORE</a></div>
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Sensex jumps 243 pts on late buying, Nifty reclaims 18,000; RIL gains 2%

Business Standard

Sensex jumps 243 pts on late buying, Nifty reclaims 18,000; RIL gains 2% | News on Markets - Business Standard

DIIs buy equities worth Rs 204.79 crore on Tuesday

FII buying extends with Rs 1,305.30-crore equity purchase on Tuesday

Brent crude futures steady around $85/bbl-mark

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US index futures indicate likely extended decline on Wall Street

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SGX Nifty suggests subdued trade on Dalal Street today

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US indices end mixed as Fed officials mull higher peak rates

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Asia markets fall after hotter-than-expected US inflation

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Good morning, readers! Stay tuned for live updates with Business Standard

Stay tuned for live updates with Business Standard

Buzzing stock :: Adani Enterprises rises for second day on healthy Q3 results

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Broader markets :: MidCap, SmallCap indices snap underperformance

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Sectoral trends :: Nifty IT, Realty indices advance over 1%

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Sensex Heatmap :: 20 of 30 index constituents close in the positive zone

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CLOSING BELL :: Sensex settles near day's high

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MARKET CHECK :: Sensex at day's high amid fresh buying in heavyweights

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Rupa & Co, Dollar Ind, Kitex Garments hit 52-wk lows on weak Q3 results

Among individual stocks, Kitex Garments tanked 14 per cent to hit 52-week low of Rs 152.10 amid heavy volumes. The stock fell below its previous low of Rs 168.80, touched on December 23, 2022. For Q3FY23, Kitex Garments reported a consolidated net loss of Rs 4.22 crore due to sharp decline in sales. The company had posted net profit of Rs 34.69 crore in the year-ago quarter (Q3FY22). Revenue from operations during the quarter fell 66 per cent to Rs 68.21 crore from Rs 202.91 crore in Q3FY22. <a href="https://www.business-standard.com/article/markets/rupa-co-dollar-ind-kitex-garments-hit-52-wk-lows-on-weak-q3-results-123021501135_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2018-10/19/full/1539891114-2966.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="" width="620" /></div>
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BSE 500:: IPCA Labs, Torrent Power, Apollo Hospitals among volume shockers

IPCA Labs witnessed unusally high volume of around 2.09 lakh shares so far on the BSE as against its five-day average volume of around 8,500-odd shares. Similarly, Torrent Power, Apollo Hospitals, PI Industries and PNC Infratech were among the other BSE 500 volume toppers on Wednesday. <a href="https://www.business-standard.com/stocks/market-statistics/bse/volume-shocker?indices=21552" target="_blank"><strong>VIEW MORE</strong></a><br />
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BSE 500:: TCNS Clothing, CG Power, Ulfex among top losers

TCNS Clothing down over 5.5 per cent was the top loser among the BSE 500 stocks. CG Power &amp; Industrial Solutions, RHI Magnesita, Uflex and Adani Transmission, down around 5 per cent each were the other major losers so far on Wednesday. <a href="https://www.business-standard.com/stocks/market-statistics/bse/top-losers?indices=21552" target="_blank"><strong>VIEW MORE</strong></a><br />
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	<img align="left" alt="chart" class="imgCont" height="420" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-02/15/full/1676450086-4069.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="620" /></div>
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BSE 500:: Torrent Power, Tejas Network, GIC India among top gainers

Torrent Power up nearly 10 per cent was the top gainer among the BSE 500 stocks so far on Wednesday. It was followed by Tejas Network, General Insurance Corporation of India, Finolex Cables and Borosil Renewables, 5 - 9 per cent each. <a href="https://www.business-standard.com/stocks/market-statistics/bse/top-gainers?indices=21552" target="_blank"><strong>VIEW MORE</strong></a><br />
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Finolex Cables hits over 4-yr high; stock up 15% in a week post strong Q3

Shares of Finolex Cables rallied 6 per cent to hit over four-year high of Rs 632.9 in Wednesday&rsquo;s intra-day trade. With this spike, the stock has climbed 12 per cent in the past two days. It traded at its highest level since June 2018 and had hit a record high level of Rs 750 on January 19, 2018. <a href="https://www.business-standard.com/article/markets/finolex-cables-hits-over-4-year-high-surges-15-in-1-week-post-q3-results-123021500980_1.html?1676446016" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="markets, bull market, bull, sensex, nifty, market" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-05/20/full/1621495266-8152.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="markets, bull market, bull, sensex, nifty, market" width="620" /></div>
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Eicher Motors rallies 5% on better than expected Q3 earnings

Shares of Eicher Motors, the maker of Royal Enfield motorcycles, rallied 5 per cent to Rs 3,340 on the BSE in Wednesday&rsquo;s intra-day trade in an otherwise subdued market after the company posted a better-than-expected 62 per cent year-on-year (YoY) jump in net profit at Rs 741 crore, on back of higher motorcycle sales and other income. <a href="https://www.business-standard.com/article/markets/eicher-motors-rallies-5-on-better-than-expected-q3-earnings-123021500911_1.html?1676442906" target="_blank"><strong>READ</strong><br />
<img alt="Royal Enfield new Classic 350" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-09/01/full/1630488391-8915.jpg?im=Resize,width=640" /></a>

Aero India Show: Defence stocks a good long-term bet, say analysts

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	In the near-term, analysts believe a drop in the defence budget for financial year 2023-24, coupled with premium valuations of related stocks, could weigh on the sentiment. <a href="https://www.business-standard.com/article/markets/aero-india-show-defence-stocks-a-good-long-term-bet-say-analysts-123021500910_1.html" target="_blank"><strong>READ</strong><br />
	<img alt="Aero India Show: Defence stocks a good long-term bet, say analysts" src="https://bsmedia.business-standard.com/_media/bs/img/misc/2021-02/03/full/20210203094L.jpg?im=Resize,width=640" /></a></div>

DLF, Sunteck Realty: Stay cautious; realty index violates key support level

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	Despite negating previous support range of 409 to 406, the Nifty realty index was receiving accumulation close to 400 levels in the recent sessions. But, on Tuesday, the index slipped under 400 even when benchmark indices, BSE Sensex and Nifty 50 gained close to a per cent. Regrettably, there is now no major support except the last reversal mark which registered a new 52-week low at 365.75. <a href="https://www.business-standard.com/article/markets/dlf-sunteck-realty-stay-cautious-realty-index-violated-key-support-level-123021500891_1.html?1676442903" target="_blank"><strong>READ</strong><br />
	<img alt="The numbers suggest that FY16 was the busiest year for fundraising when all listed companies together raised nearly Rs 2.5 trillion worth of fresh equity capital" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-11/28/full/1669574414-9092.jpg?im=Resize,width=640" /></a></div>

Nestle's Q4 revenues may rise up to 17% YoY, agri-inflation to dent margins

FMCG major Nestle India is likely to register up to 17.5 per cent year-on-year (YoY) revenue growth to Rs 4,394 crore in the fourth quarter of CY22 (Q4CY22), expect analysts. In the year-ago period, the coffee and tea manufacturing company&#39;s revenues stood at Rs 3,706 crore. The company is scheduled to announce results on Thursday, February 16. <a href="https://www.business-standard.com/article/markets/nestle-s-q4-revenues-may-rise-up-to-17-yoy-agri-inflation-to-dent-margins-123021500854_1.html?1676441613" target="_blank"><strong>READ</strong><br />
<img alt="Photo: Reuters" src="https://bsmedia.business-standard.com/_media/bs/img/article/2020-10/21/full/1603260616-6685.jpg?im=Resize,width=640" /></a>

Siemens gains 3%, hits record high on strong operational performance in Q1

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	Shares of Siemens hit a record high of Rs 3,219.90, up 3 per cent on the BSE in Wednesday&#39;s intra-day trade, after the company reported 80 per cent year-on-year (YoY) growth in consolidated profit after tax (PAT) at Rs 438 crore on a strong operational performance. The company follows October-September accounting year. <a href="https://www.business-standard.com/article/markets/siemens-gains-3-hits-record-high-on-strong-operational-performance-in-q1-123021500831_1.html?1676439090" target="_blank"><strong>READ</strong><br />
	<img alt="The logo of German industrial group Siemens is seen in Zurich, Switzerland" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-02/04/full/1612425040-6769.JPG?im=Resize,width=640" /></a></div>
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Q&A::Mutual fund ownership of Adani group stocks is not very high: Equirus

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	Primary markets will take few months to recover, says Ashutosh Tiwari of Equirus. Investors, he said, are now only interested in businesses which have better historical growth and cash flow profile. <a href="https://www.business-standard.com/article/markets/mutual-fund-ownership-of-adani-group-stocks-is-not-very-high-equirus-123021500794_1.html" target="_blank"><strong>READ</strong><br />
	<img alt="Ashutosh Tiwari, managing director – research at Equirus" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-02/15/full/1676437480-2417.jpg?im=Resize,width=640" /></a></div>

Bharat Forge dips 7% on weak performance of overseas subsidiaries in Q3

Shares of Bharat Forge dipped 7 per cent to Rs 811.80 on the BSE in Wednesday&rsquo;s intra-day trade as the company&rsquo;s overseas operations posted an EBITDA (earnings before interest, taxes, depreciation, and amortization) loss of Rs 62 crore in the December quarter (Q3FY23) due to ramp up related issues of the new Al forgings capacities in Germany and the US. <a href="https://www.business-standard.com/article/markets/bharat-forge-dips-7-on-weak-performance-of-overseas-subsidiaries-in-q3-123021500781_1.html?1676437581" target="_blank"><strong>READ</strong><br />
<img alt="Bharat Forge acquires US-based Walker Forge Tennessee for $14 mn" src="https://bsmedia.business-standard.com/_media/bs/img/article/2016-11/18/full/1479465276-3709.jpg?im=Resize,width=640" /></a>

Torrent Power soars 9% post Q3 results; announces special dividend

Shares of Torrent Power surged 9 per cent to Rs 499 on the BSE in Wednesday&rsquo;s intra-day trade after the company reported strong earnings for the December quarter (Q3FY23), with consolidated net profit up 88 per cent year-on-year (YoY) at Rs 695 crore on account of higher income. <a href="https://www.business-standard.com/article/markets/torrent-power-soars-9-post-q3-results-announces-special-dividend-123021500718_1.html?1676435424" target="_blank"><strong>READ</strong><br />
<img alt="Torrent Power: Long-term triggers in place" src="https://bsmedia.business-standard.com/_media/bs/img/article/2016-01/07/full/1452173247-8588.jpg?im=Resize,width=640" /></a>

<strong>Sensex:</strong> 60,759.26 level | down 273 points | 0.45 per cent<br />
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<strong>Nifty50</strong>: 17,859.85 level | down 70 points | 0.39 per cent

Broader markets :: Most indices in red; MidCap index up 0.08%

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Sectoral trends :: Nifty Metal, Media indices eke out slim gains

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Sensex Heatmap :: 26 of 30 index constituents swim in red

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Opening Bell :: Sensex drops over 150 pts in early deals

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Pre-Open Session :: Sensex dips over 50 pts

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Hindenburg effect: Trading volumes rose amid rout in Adani Group shares

The rout in Adani Group stocks has set options prices for two of its firms &ndash; Adani Enterprises and Adani Ports &amp; SEZ &ndash; on a wild run in recent weeks. Besides, banking stocks and the Bank Nifty index also witnessed higher-than-usual volatility as investors feared contagion risk from the troubles at the Adani Group. These factors attracted a lot of traders to these counters, say market observers. <a href="https://www.business-standard.com/article/markets/average-daily-trading-volume-rises-amid-rout-in-adani-group-shares-123021401779_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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ALERT :: European parliament votes to bans new petrol and diesel cars from 2035 onwards

WATCH :: What are Adani saga’s lessons on improving investor protection?

Bonds recoup losses after inflation shock as long-term players step in

At current levels, overnight indexed swap rates, which are a direct reflection of interest rate expectations, suggest another 25 bps hike by the RBI. The one-year OIS rate settled at 6.90 per cent on Tuesday, indicating a terminal repo expectation of 6.75 per cent, traders said. <a href="https://www.business-standard.com/article/markets/bonds-recoup-losses-post-inflation-shock-as-long-term-players-step-in-123021401852_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-06/30/full/1624997829-2298.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="" width="620" /></div>
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ESG's most influential gatekeeper MSCI readies verdict on Adani Group firms

As of now, MSCI gives Adani Green Energy Ltd. a rating of A, its third-highest, and the entity is included in several of its ESG and Climate indexes. So is Adani Total Gas Ltd., also rated A. Those ratings haven&rsquo;t changed since Hindenburg Research published its report on the Indian conglomerate Jan. 24, MSCI said in an email, noting that its indexes and ratings divisions operate independently. The index provider declined to comment on any future changes. <a href="https://www.business-standard.com/article/companies/esg-s-most-influential-gatekeeper-msci-readies-verdict-on-adani-group-firms-123021500111_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-02/15/full/1676425501-5556.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="" width="620" /></div>
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Stocks to watch: Eicher Motors, Voda Idea, Siemens, Bharat Forge, ONGC

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	<strong>Eicher Motors</strong>: The two-wheeler major posted a bigger-than-expected 62.4 per cent year-on-year (YoY) jump in the December quarter (Q3FY23) profit, helped by higher motorcycle sales. Sales of Royal Enfield, which generates most of Eicher&#39;s revenue, jumped 31 per cent to 2.1 lakh units.&nbsp;<br />
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	<strong>Siemens</strong>: The company clocked 85 per cent YoY rise in consolidated net profit at Rs 462.7 crore in Q3FY23, on the back of higher revenues. In the year-ago period, net profit of the company stood at Rs 250 crore. Total income, meanwhile, rose to Rs 4,116.8 crore Q3FY23 from Rs 3,480.9 crore in Q3FY22. <a href="https://www.business-standard.com/article/markets/stocks-to-watch-today-eicher-motors-voda-idea-siemens-bharat-forge-ongc-bata-123021500112_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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ALERT :: SBI hikes lending rates by 10 bps across tenures