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Stock market highlights on Friday, February 02: In the broader markets, the BSE MidCap index gained 0.8 per cent, while the BSE SmallCap index added 0.5 per cent

Sensex, Nifty, stock market, BSE, NSE

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			<strong>Closing Bell on February 2, 2024</strong>: Equity markets surged a day after the presentation of the interim Budget 2024, aided by the positive global sentiment.&nbsp;</div>
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			The S&P BSE Sensex, which zoomed over 1,400 points intraday, erased nearly half of its gains and ended 440 points, or 0.6 per cent, higher at 72,086 levels.&nbsp;&nbsp;</div>
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			The broader Nifty50, meanwhile, hit a fresh record high of 22,127 before closing at 21,854, up 156 points or 0.72 per cent.</div>
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			BPCL, ONGC, Adani Ports, Power Grid, NTPC, Coal India, Tata Consumer Products, Hero MotoCorp, Tata Steel, and JSW Steel were the top gainers, rising in the range of 3 per cent to 9.5 per cent.&nbsp;</div>
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			Eicher Motors, HDFC Life, Axis Bank, HUL, HDFC Bank, and L&T were the laggards, down up to 2.5 per cent.&nbsp;</div>
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			In the broader markets, the BSE MidCap index gained 0.8 per cent, while the BSE SmallCap index added 0.5 per cent.</div>
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			Among sectors, the Nifty Metal index advanced 2.37 per cent, the Nifty IT 2.2 per cent, and the Nifty PSU Bank index 1.9 per cent.&nbsp;</div>
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Sensex rallies 440 pts day after interim Budget, Nifty tops 21,850; PSEs up

Business Standard

Sensex rallies 440 pts day after interim Budget, Nifty tops 21,850; PSEs up | News on Markets - Business Standard

Fund flows: FIIs net sell on Interim Budget day; DIIs buyers

Foreign Institutional Investors (FIIs) net sell stocks worth Rs 1,880 crore, while Domestic Institutional Investors (DIIs) were net bueyrs of shares worth Rs 872 crore.<br />
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Commodity ALERT:: Brent Oil futures dip below $80/bbl

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	<img align="left" alt="chart" class="imgCont" height="307" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/02/full/1706840480-8847.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 futures quote above $2,070/ounce

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	<img align="left" alt="chart" class="imgCont" height="307" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/02/full/1706840333-8494.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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US Market Update:: Dow, Nasdaq rally 1% on earnings optimism

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	<img align="left" alt="chart" class="imgCont" height="307" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/02/full/1706840148-7329.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: Yahoo Finance</div>
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Broader Markets :: Midcaps outperform peers

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NIFTY HEATMAP :: Energy, PSUs march ahead on Friday

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CLOSING BELL :: Nifty reclaims 21,850; hits record high intraday

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CLOSING BELL :: Sensex ends sharply off day's high

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CPSE stocks on a roll; BEML Land, NBCC, Engineers India rally up to 20%

As many as 12 stocks from the index hit their respective all-time highs in the intraday trade today. These include NTPC, Power Finance Corporation (PFC), Power Grid Corporation of India, BEML, BEML Land Assets, Hemisphere Properties India, Housing &amp; Urban Development Corporation (Hudco), NHPC, NLC India, and SJVN. <a href="https://www.business-standard.com/markets/news/cpse-stocks-on-a-roll-beml-land-nbcc-engineers-india-rally-up-to-20-124020200785_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Budget cheer? Here's what drove 1,400-pt rally in Sensex, Nifty to new high

Bulls took centre-stage on Dalal Street on Friday, a day after the Interim Budget 2024 was presented, as markets cheered the fact that the government stuck to its stance on fiscal prudence, and avoided the temptation to announce populist measures, given the general elections year. The S&amp;P BSE Sensex soared 1,444 points intraday to hit a high of 73,089 levels. <a href="https://www.business-standard.com/markets/news/budget-cheer-here-s-what-drove-1-300-pt-rally-in-sensex-nifty-to-new-high-124020200464_1.html" target="_blank"><strong>Read</strong><br />
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Rashi Peripherals IPO: Priced at Rs 295-311 per share, to raise Rs 600 cr

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	Rashi Peripherals, an information and communications technology products distributor, on Friday said it has fixed a price band of Rs 295-311 apiece for its Rs 600 crore-Initial Public Offering (IPO).<br />
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	The issue will be open for public subscription from February 7 to February 9 and the bidding for anchor investors will open for a day on February 6, the company said in a statement. <a href="https://www.business-standard.com/markets/ipo/rashi-peripherals-ipo-priced-at-rs-295-311-per-share-to-raise-rs-600-cr-124020200645_1.html" target="_blank"><strong>Read</strong></a><br />
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RIL hits new high, m-cap nears Rs 20 trn mark; Chart hints further upside

Shares of Reliance Industries (RIL) hit a new all-time high of Rs 2,950, up 3.4 per cent, in intra-day trades on Friday on the back of a strong rally in the market. In the market capitalisation (mcap) of the company came within striking distance of the Rs 20 trillion mark, hitting a high of Rs 19.96 trillion today. <a href="https://www.business-standard.com/markets/news/ril-hits-new-high-m-cap-nears-rs-20-trn-mark-chart-hints-further-upside-124020200629_1.html" target="_blank"><strong>Read</strong><br />
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PNB enters top 50 most-valuable stocks' club; overtakes BOB in market cap

Currently, PNB is trading at its highest level since February 2018. In the past seven trading days, it has surged 27 per cent after the state-owned bank raised its profit guidance to Rs 7,000-7,500 crore for the current financial year 2023-24 (FY24). Earlier, the second largest lender had set a profit estimate of Rs 6,000 crore for the ongoing fiscal, PTI reported. <a href="https://www.business-standard.com/markets/news/pnb-enters-top-50-most-valuable-stocks-club-overtakes-bob-in-market-cap-124020200532_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Q3 preview: 3 reasons why SBI may report weak results in December quarter

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	<strong>BNP Paribas</strong></div>
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	The global brokerage expects modest growth of 6 per cent year-on-year (Y-o-Y) in the lender&#39;s net interest income (NII) at Rs 40,345 crore during the quarter under review. On a quarter-on-quarter (Q-o-Q) basis, it would be a 2 per cent rise. NII was Rs 38,068.6 crore in Q3FY23, and Rs 39,500 crore in Q2FY24.&nbsp;<a href="https://www.business-standard.com/markets/news/sbi-q3-preview-3-reasons-why-sbi-may-report-weak-results-in-dec-quarter-124020200280_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Paytm hits 2nd straight 20% lower circuit post RBI curbs; downgrades weigh

Paytm expects an impact on its annual earnings before interest, taxes, depreciation and amortisation (Ebitda) in the range between Rs 300 and Rs 500 crore. The company, however, has clarified the regulator&rsquo;s move will not affect its verticals. <a href="https://www.business-standard.com/markets/news/paytm-hits-2nd-straight-20-lower-circuit-post-rbi-curbs-downgrades-weigh-124020200301_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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This state-owned civil construction stock has zoomed over 100% in 1 month

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	Shares of NBCC (India) hit a record high of Rs 167.95, as they rallied 18 per cent on the BSE in Friday&#39;s intra-day trade on strong order inflows. The stock of state-owned civil construction company surpassed its previous high of Rs 145.65 touched on November 8, 2017. <a href="https://www.business-standard.com/markets/news/this-state-owned-civil-construction-stock-has-zoomed-over-100-in-1-month-124020200242_1.html" target="_blank"><strong>Read</strong></a></div>
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Broader indices gain lin line with benchmarks

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Adani Ports, BPCL, Coal India additional winners on Nifty

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Heatmap: ICICI Bank, IT majors lead gains on Sensex

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Currency Alert: Rupee strengthens 9 paise to open at 82.88/$

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What do fiscal targets mean for bond, equity markets?

The government&rsquo;s aggressive fiscal targets set bond markets on fire. So, will the government&#39;s fiscal gliding path provide the necessary balm to bond, and in turn equity markets? <a href="https://www.business-standard.com/shows/the-morning-show/what-do-fiscal-targets-mean-for-bond-equity-markets-3728.htm" target="_blank"><strong>WATCH VIDEO</strong></a><br />
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A 5,800% renewables stock surge has some Indian investors worried

India&rsquo;s renewable energy stocks have enjoyed a scorching rally for the past two years as retail buyers pile in, but their extended valuations are flashing warning signs. <a href="https://www.business-standard.com/markets/news/a-5-800-renewables-stock-surge-has-some-indian-investors-worried-124020200097_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Stocks to watch on Feb 2: Indian Hotels, Hero Moto, Eicher, NMDC, RITES

Q3 earnings today: Tata Motors, UPL, IndiGo, Delhivery, Bank of India, Aegis Logistics, Bikaji Foods and Devyani International, among others.&nbsp; <a href="https://www.business-standard.com/markets/news/stocks-to-watch-on-feb-2-indian-hotels-hero-moto-eicher-nmdc-rites-124020200089_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Will focus on compliance first, and not technology, says Paytm CEO

Paytm to pause lending operations for a few weeks to address partners&#39; concerns; 30,000 slaes force already working with merchants. <a href="https://www.business-standard.com/companies/news/we-now-look-at-compliance-first-tech-second-approach-vijay-shekhar-sharma-124020101721_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Vijay Shekhar Sharma, Founder, Chairman &amp; CEO - One97 Communications (Paytm), BFSI Summit" class="imgCont" height="465" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-12/19/full/1671433997-0101.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Vijay Shekhar Sharma, Founder, Chairman &amp; CEO - One97 Communications (Paytm), BFSI Summit" width="620" /></div>

Bull Spread strategy for IndiGo Feb expiry amid strength on daily charts

Oscillators like RSI and MFI are in rising mode and placed above 60 on the daily chart, Indicating strength in the stock, as per Nandish Shah. <a href="https://www.business-standard.com/markets/news/bull-spread-strategy-for-indigo-feb-expiry-amid-strength-on-daily-charts-124020200069_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Downtrend on charts for Nifty FMCG, Nifty Pharma: Check key levels

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	The Nifty Energy Index is currently displaying a range-bound pattern on charts, with levels oscillating between 37,200 on the upside and 36,350 on the downside. <a href="https://www.business-standard.com/markets/news/downtrend-on-charts-for-nifty-fmcg-nifty-pharma-check-key-levels-124020200077_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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