Sensex ends 376 pts up, Nifty above 22K; Auto stocks rally, SpiceJet up 11%

Stock market highlights on February 16, 2024: Sensex, Nifty gain for fourth day; Paytm snapped its three-day decline to close at the 5 per cent upper circuit

11:05 AM

ALERT:: CRISIL retains Sundram Fasteners debt rating; stock up 2%

Sundram Fasteners today in an exchange filing said that rating agency CRISIL had retained its short-term debt and commercial paper rating to 'CRISIL A1+'.

10:54 AM

What next for Zee Entertainment: The answer will only unfold in the coming months

But just getting margins back to 20 per cent does not address the real, structural changes in the market that made this merger imperative. READ MORE

10:45 AM

Entero Healthcare makes weak debut; lists 5% below its issue price

Entero Healthcare Solutions made a weak stock market debut with its shares listing at a 5 per cent discount. The stock listed at Rs 1,201 against issue price of Rs 1,258 on the BSE in Friday. READ MORE

10:33 AM

ALERT:: Happy Forgings wins Rs 400 cr order; stock up 1%

Happy Forgings in an exchange filing today said the company has an order worth Rs 400 crore for supply of fully machined components for SUVs for the next six year from a large Indian automobile manufacturer.

10:22 AM

Sector ALERT:: Nifty PSU Bank index up nearly 1%; Bank of India, PNB lead

10:08 AM

ALERT:: RattanIndia Enterprise arm launches drone training for school kids; stock up 3%

RattanIndia Enterprise, 100 per cent subsidiary Neosky India, today launched an innovative drone training program in association with 'Narayana Health' for school children in Bangalore, Karnataka.

10:03 AM

ALERT:: SpiceJet soars over 6%; Airline retains its market share at 5.6% in Jan

9:57 AM

ALERT:: IndiGo trades in red; Airline lost market share in Jan

9:51 AM

Market check:: Breadth fairly positive, with more than 2 advancing stocks for every declining share on the BSE

9:46 AM

Sector ALERT:: Auto top performer so far led by TVS Motor, Tata Motors

9:41 AM

COMMENT:: Pockets of overvaluation in broader market remains a concern

The market has been range bound in recent days due to bouts of selling and buying. During the last two days, FIIs sold equity worth Rs 6993 crore in the cash market while DIIs bought equity worth Rs 5173 crore.

 

The trend of FII selling is likely to continue since the 10-year US bond yield is high at 4.24 per cent. The trend of DII buying too is likely to continue since the flows into the DIIs continue to be robust.

 

The global market construct continues to be favourable with the mother market US remaining resilient with S&P 500 at record highs.

 

Pockets of overvaluation in the broader market continue to be a worry. Banking stocks are fairly valued. RIL is strong.

 

- Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

 

9:37 AM

BSE SmallCap Heatmap:: Six stocks surge over 7%; MRPL down 4%

9:34 AM

BSE MidCap Heatmap:: Oil India soars 9%, Glenmark 7%; Guj Gas dips 4%

9:29 AM

Broader Market Check:: SmallCaps seen outperforming; Vix down a wee bit

9:26 AM

Nifty Movers & Shakers:: Auto stocks gain; Pharma a touch weaker