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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.

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	<strong>Closing Bell on Monday, February 26</strong>: 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.</div>
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	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.</div>
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	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.&nbsp;</div>
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	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.</div>

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

Business Standard

Sensex drops 533 pts in broad selling; IT, metals worst hit; VIX jumps 4% | News on Markets - Business Standard

Qatar plans new gas production boost due to global price collapse

The Qatari announcement comes as U.S. gas prices trade near an all-time low if adjusted to inflation after a decade of meteoric rises in output which made the U.S. one of the top oil and gas exporters. <a href="https://www.business-standard.com/world-news/qatar-plans-new-gas-production-boost-due-to-global-price-collapse-124022500626_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Natural gas, pipework" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-06/26/full/1687766772-2322.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="Natural gas, pipework" /></div>

Nifty, Bank Nifty in indecisive mode; Watch out for these key levels

Nifty likely to see a directional move on breakout from the 22,100 - 22,325 trading range, says Ravi Nathani, an independent technical analyst. <a href="https://www.business-standard.com/markets/news/nifty-bank-nifty-in-indecisive-mode-watch-out-for-these-key-levels-124022600040_1.html?1708909476" target="_blank"><strong>READ MORE</strong></a><br />
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US sanctions on Russia's oil-shipping firms may leave India at sea

Washington is slowly but steadily cutting the umbilical cord that links Russian oil to India -&nbsp; shipping. The US, on Friday, unleashed the largest sanctions package, partly directed at Sovcomflot, Russia&rsquo;s state-owned shipping behemoth, and on 14 of its vessels, which are some of the biggest carriers of Russian oil to India regularly.&nbsp; &nbsp;<a href="https://www.business-standard.com/india-news/washington-s-biggest-sanction-wave-on-russian-oil-threatens-to-engulf-india-124022500095_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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<div style="float: left; max-width: 600px;">
	<img align="" alt="MV Saibaba, Ship, Vessel, crude oil tanker" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-12/24/full/1703399008-8394.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 450px;" title="MV Saibaba, Ship, Vessel, crude oil tanker" /></div>
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Commodity ALERT:: Brent Crude Oil dips below $81 per barrel

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	<img align="left" alt="chart" class="imgCont" height="287" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/26/full/1708914262-7911.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="600" />
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		Source; Investing.com</div>
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Commodity ALERT:: Gold quotes around $2,040 per ounce

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	<img align="left" alt="chart" class="imgCont" height="287" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/26/full/1708913936-1241.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="600" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:600px;">
		Source: Investing.com</div>
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US Market Update:: Wall Street ends off day's high on Friday

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	<img align="left" alt="chart" class="imgCont" height="334" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/26/full/1708913664-0452.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="600" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:600px;">
		Source: Yahoo Finance</div>
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ALERT:: US 10-year bond yield dips a wee bit to 4.223%

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	<img align="left" alt="chart" class="imgCont" height="334" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/26/full/1708913454-6452.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="600" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:600px;">
		Source: Investing.com</div>
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	Welcome to Business Standard&#39;s LIVE stock market blog.</div>
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	Track all the latest, markets&#39; related updates here.</div>
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Broader indices :: Mid, SmallCap indices close up to 0.38% lower

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

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

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CLOSING BELL :: Sensex slides over 350 pts

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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 &#39;Paytm&#39;, 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&#39;s intraday trade. <a href="https://www.business-standard.com/markets/news/paytm-up-5-here-s-why-foreign-brokerages-remain-bullish-on-the-stock-124022600419_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="This increases Paytm’s ability to service a merchant remotely, reducing downtime significantly" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-03/22/full/1616358611-1511.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Paytm" width="620" /></div>

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&#39;s otherwise weak session. At 1:25 PM, the benchmark S&amp;P BSE Sensex was down 0.3 per cent as against 7 per cent rally in the counter. <a href="https://www.business-standard.com/markets/news/pb-fintech-zooms-9-hits-52-week-high-in-weak-market-stock-up-41-in-2024-124022600391_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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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. <a href="https://mybs.in/2dTcgJI" rel="nofollow" target="_blank"><strong>READ MORE</strong></a><br />
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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&#39;s trade after reports said that the income tax department found tax evasion of over Rs 1,000 crore by the company. <a href="https://www.business-standard.com/markets/news/alkem-labs-sinks-13-to-2-month-low-on-reports-of-tax-evasion-of-rs-1000-cr-124022600348_1.html" target="_blank"><strong>Read</strong><br />
<img alt="Alkem's Mandva (Gujarat) facility" src="https://bsmedia.business-standard.com/_media/bs/img/article/2016-03/07/full/1457345877-0324.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a>

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&#39;s intraday trade after the airline told the National Company Law Tribunal (NCLT) that their dispute with aircraft lessor Celestial Aviation is &quot;practically settled&quot; and only formalities remain. <a href="https://www.business-standard.com/markets/news/spicejet-rallies-over-4-as-it-settles-dispute-with-celestial-aviation-124022600327_1.html" target="_blank"><strong>Read</strong><br />
<img alt="spicejet" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-07/05/full/1657026131-5968.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a>

Data Patterns surges 24% in 3 days after govt eases space FDI norms

Shares of Data Patterns (India) rallied 8 per cent to hit a record high of Rs 2,550 on the BSE in Monday&rsquo;s weak intra-day trade. The stock surpassed its previous high of Rs 2,484 touched on September 1, 2023. In comparison, the S&amp;P BSE Sensex was down 0.5 per cent at 72,781 at 12:31 PM. <a href="https://www.business-standard.com/markets/news/data-patterns-surges-24-in-3-days-after-government-eases-fdi-norms-124022600293_1.html" target="_blank"><strong>Read</strong><br />
<img alt="Skyroot Vikram-S rocket" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-11/21/full/1669049533-3957.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a>

Adani shares buck trend, rally up to 5% in a slippery market

Shares of Adani Group were seen outperforming in Monday&#39;s intra-day deals, with gains up to 5 per cent in an otherwise slippery market. <a href="https://www.business-standard.com/markets/news/adani-shares-buck-trend-rally-up-to-5-in-a-slippery-market-124022600301_1.html" target="_blank"><strong>Read</strong><br />
<img alt="Adani Group" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-01/10/full/1704905194-8421.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a>

Tata Group eyeing $1-2 bn IPO of electric vehicle arm in 12-18 mths: Report

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	The Tata Group is eyeing to list its electric vehicle (EV) unit Tata Passenger Electric Mobility Ltd (TPEM) as it aims to monetise its investments in the EV business, reported BusinessLine.<br />
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	As per the report, the Tata group is aiming for a $1-2 billion initial public offering (IPO) of the EV unit and the listing could happen in the next 12&ndash;18 months. <a href="https://www.business-standard.com/markets/news/tata-group-eyeing-1-2-bn-ipo-of-electric-vehicle-arm-in-12-18-mths-report-124022600249_1.html" target="_blank"><strong>Read</strong><br />
	<img alt="Tata EV-only Store" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-12/22/full/1703244055-3517.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a></div>

This beverages stock has zoomed 107% in 8 months; hits Rs 2 trn market cap

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	Shares of Varun Beverages (VBL) hit a new high of Rs 1,560.30, up 3 per cent on the BSE in Monday&rsquo;s intra-day trade in an otherwise weak market on healthy growth outlook in the forthcoming years.<br />
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	In past one month, the stock has outperformed the market by surging 24 per cent, as compared to 1.3 per cent rise in the S&amp;P BSE Sensex. Further, in past eight months, the market price of VBL has more-than-doubled or zoomed 107 per cent. <a href="https://www.business-standard.com/markets/news/this-beverages-stock-has-zoomed-107-in-8-months-hits-rs-2-trn-market-cap-124022600223_1.html" target="_blank"><strong>Read</strong><br />
	<img alt="Varun Beverages" src="https://bsmedia.business-standard.com/_media/bs/img/article/2019-01/01/full/1546320860-9359.png?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a></div>

Paints shares lose sheen post Birla Opus launch; Asian Paints at 10-mth low

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	Shares of paint companies were under pressure, falling up to 5 per cent on the BSE in Monday&#39;s intra-day trade amid concerns that Grasim&#39;s entry into the paint sector will intensify the competition.<br />
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	Shares of Asian Paints hit a 10-month low of Rs 2,850, as they slipped nearly 5 per cent after the brokerage firm CLSA downgraded the stock post Birla Opus launch. The stock of the paint maker was trading at its lowest level since April 28, 2023. <a href="https://www.business-standard.com/markets/news/paints-shares-lose-sheen-post-birla-opus-launch-asian-paints-at-10-mth-low-124022600177_1.html" target="_blank"><strong>Read</strong></a><br />
	<img alt="Increasing disposable incomes, surge in sales of high-end products and rapid urbanisation, among other things, are driving demand for luxury and premium paints. Source: Adobe Stock" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-05/27/full/1653639008-5385.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></div>

Paytm gains 5% as RBI asks NPCI to become third-party application provider

Shares of One97 Communications (OCL) were locked in the 5 per cent upper circuit at Rs 428.10 on NSE in Monday&#39;s intraday trade after the RBI asked NPCI to look into the possibility of migrating Paytm Payments Bank customers, using the UPI handle &#39;@paytm&#39;, to four-to-five other banks, in order to prevent any disruptions in the payment ecosystem. <a href="https://www.business-standard.com/markets/news/paytm-gains-5-as-rbi-asks-npci-to-become-third-party-application-provider-124022600122_1.html" target="_blank"><strong>Read</strong></a><br />
<img alt="paytm" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/18/full/1708278921-4366.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" />

IT stocks take the hit; Realty index other drag

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Broader Midcap and Smallcap indices outperform in weak trade

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Asian Paints tumbles 4%, leading largecap losers

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L&T, Cipla, Adani Ent lead gains on Nifty

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Heatmap: Losers outnumber gainers on Sensex

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Opening Bell: Nifty declines 51 pts to 22,160

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Currency Alert: Rupee strengthens 6 paise to open at 82.88/$

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Five things that will be on markets radar this week

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	It&rsquo;s been a tale of two-halves for the markets, so far, in February. While the markets consolidated with the benchmarks declining over 1 per cent initially, they have rallied around 4 per cent from their monthly lows since then. The Nifty, in fact, has registered a fresh life-time high in the second half of the current month. Here are the five key factors that could impact the market trajectory this week. <a href="https://www.business-standard.com/shows/the-morning-show/what-are-the-five-things-that-will-be-on-markets-radar-this-week-3822.htm" target="_blank"><strong>Watch Video</strong></a><br />
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		<img align="" alt="Following the sharp run-up, returns are expected to plateau." class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2020-08/02/full/1596372327-598.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="stock market, share market, stocks" width="620" /></div>
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March Fed pivot ruled out, May rate cut less likely: Vikram Sahu

The tight labour market has dashed expectations of interest rate cuts by the US Federal Reserve (Fed) in March as well as May. The US central bank will start reducing rates in June, says VIKRAM SAHU, global head of equity research at BofA Securities. In an interview with Samie Modak, Sahu says the US elections and Fed pivot will benefit emerging markets (EMs) this year. <a href="https://www.business-standard.com/markets/interviews/march-fed-pivot-ruled-out-may-rate-cut-less-likely-vikram-sahu-124022500397_1.html" target="_blank"><strong>Edited excerpts:</strong></a><br />
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	<img align="" alt="VIKRAM SAHU, global head of equity research at BofA Securities" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/25/full/1708863189-4476.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="VIKRAM SAHU, global head of equity research at BofA Securities" /></div>

One-year ascent: Mutual funds go from Rs 40 trillion to Rs 53 trillion

The journey of mutual funds (MFs) from Rs 40 trillion to nearly Rs 53 trillion in the past year is mostly driven by mark-to-market gains in the equity segment and appreciation in the value of debt and gold assets.&nbsp;<a href="https://www.business-standard.com/markets/mutual-fund/one-year-ascent-mutual-funds-go-from-rs-40-trillion-to-rs-53-trillion-124022500378_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="mutual fund investors" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-09/14/full/1694689957-2512.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 399px;" title="mutual fund investors" /></div>
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Stocks to watch on Feb 26: Reliance, HDFC Bank, Infibeam, Paytm, Skipper

Infibeam Avenues - the company has acquired a 20 per cent strategic stake in US-based AI development company XDuce. <a href="https://www.business-standard.com/markets/news/stocks-to-watch-on-feb-26-reliance-hdfc-bank-infibeam-paytm-skipper-124022600055_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Street signs: Sebi's deep dive, Exicom's IPO power surge, and more

Electric vehicle charging firm Exicom Tele-Systems&#39; Rs 430 crore initial public offering (IPO) is likely to break the recent weak listing trend. <a href="https://www.business-standard.com/markets/news/street-signs-sebi-s-deep-dive-exicom-s-ipo-power-surge-and-more-124022500389_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Dalal Street" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2018-02/07/full/1517949255-1756.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Dalal Street" width="620" /></div>
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