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Stock market highlights on February 7, 2024: In the broader markets, the BSE MidCap index gained over 1.48 per cent, while the BSE SmallCap index advanced 0.35 per cent

BSE, stock market, Stocks

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	<strong>Closing Bell on February 7: </strong>Equity markets were quick to give up early gains and swung between gains and losses in a narror range on Wednesday. The S&P BSE Sensex, eventually, settled at 72,152, down 34 points or 0.05 per cent, while the Nifty50 ended at 21,931, up 1 point or 0.01 per cent.&nbsp;</div>
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	SBI, JSW Steel, HDFC Life, Grasim, Bajaj Finance, Hindalco, Asian Paints, Ultratech Cement, Axis Bank, Sun Pharma, and Nestle India were the lead winners on the benchmarks, up between 1.5 per cent and 4 per cent.</div>
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	On the downside, Infosys, Power Grid Tech M, Adani Ports, BPCL, and TCS fell over 1 per cent each.&nbsp;</div>
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	In the broader markets, the BSE MidCap index gained over 1.48 per cent, while the BSE SmallCap index advanced 0.35 per cent.</div>
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	Among sectors, all but the Nifty IT index gained led by the Nifty PSU Bank index (up 3.49 per cent), followed by the Nifty Realty index (1.4 per cent), and Nifty Media index (1.37 per cent).&nbsp;</div>

Benchmarks end flat, MidCap index rises 1.5%; PSB, realty stocks in demand

Business Standard

Benchmarks end flat, MidCap index rises 1.5%; PSB, realty stocks in demand | News on Markets - Business Standard

Nifty IT, Auto Indices: Look bullish on charts, await dips to enter

In the world of technology, the Nifty IT Index is currently experiencing a bullish trend on charts, with resistance expected at 38,380 and 39,036. While the near-term outlook remains positive, caution is advised due to technical indicators signaling proximity to an overbought zone. <a href="https://www.business-standard.com/markets/news/nifty-it-auto-indices-look-bullish-on-charts-await-dips-to-enter-124020700066_1.html" target="_blank"><strong>Read</strong><br />
<img alt="Markets, bulls, bears, stocks, trading, technicals, market technical, technical analysis" src="https://bsmedia.business-standard.com/_media/bs/img/misc/2021-05/20/full/markets-bulls-bears-stocks-trading-technicals-market-technical-technical-analysis-1621493768-31062620.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a>

DIIs buy Rs 1,096 crore worth of shares Tuesday

FIIs buy shares worth Rs 93 crore Tuesday

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Gift Nifty above 22,000; signals positive start

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US stock futures hold gains in after market trade

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Good morning readers! Catch all the live market updates here with Business Standard

Catch all the live market updates here with Business Standard

NIFTY HEATMAP :: 29 of 50 index stocks rally; SBI hits new high

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CLOSING BELL :: Sensex ends in red after a range-bound session

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Paytm, IFCI, Reliance Power and 401 other stocks freeze at upper circuits

TRF, KIOCL, GE T&amp;D India, Dredging Corporation of India, Azad Engineering, and Balaji Telefilms were some of the other stocks which were locked in the upper circuits of 5 per cent to 20 per cent. <a href="https://www.business-standard.com/markets/news/paytm-ifci-reliance-power-and-394-other-stocks-freeze-upper-circuit-124020700514_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Sensex, Nifty, stock brokers" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-04/05/full/1680686226-6079.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 450px;" title="Sensex, Nifty, stock brokers" /></div>

MF holding at all-time high, here's a list of NSE stocks that were most bought

The share of domestic Mutual Funds (MFs) in companies listed on NSE rose to an all-time high of 8.81 per cent as on December 31, 2023, from 8.73 per cent as on September 30, 2023, powered by strong net inflows of Rs 58,198 crore during the quarter, as per primeinfobase.com, PRIME Database Group. <a href="https://www.business-standard.com/finance/personal-finance/domestic-mf-holding-at-all-time-high-here-s-a-list-of-stocks-they-bought-the-most-124020700434_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Among the large-cap names, Kotak Mahindra Bank, HDFC, ONGC and Maruti Suzuki were among the most-bought shares." class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-04/13/full/1649791987-7183.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="mutual funds, markets" width="620" /></div>

Nykaa Q3 review: Analysts cut Ebitda estimates on weak discretionary demand

Brokerages have largely maintained their ratings and target prices on FSN E-Commerce Ventures, the parent company of Nykaa, after the fashion and beauty online retailer posted in-line numbers in the October-to-December quarter (Q3) of financial year 2023-24 (FY24). <a href="https://www.business-standard.com/markets/news/nykaa-q3-review-analysts-cut-ebitda-estimates-on-weak-discretionary-demand-124020700369_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Nykaa, beauty care products" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-08/03/full/1627970533-4788.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Nykaa, beauty care products" width="620" /></div>

TRF zooms 20%, Tata Steel nears record high on calling off merger plan

In the past two trading days, the stock of the Tata Group firm has zoomed 29 per cent. Currently, it is trading at its highest level since September 2022. <a href="https://mybs.in/2dTTsWH" rel="nofollow" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="traders reacts as Sensex reached 30,000 mark (Photo: PTI)" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2017-04/05/full/1491381221-4343.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Markets, sensex, nifty, share market, BSE, NSE, traders, stock brokers" width="620" /></div>

This Rekha Jhunjhunwala-owned share nears Rs 1 trn mcap; plans stock split

A sharp rally in stock price has helped Canara Bank come close to joining the elite group of bank&rsquo;s having market capitalisation of Rs 1 trillion. At 10:28 am; Canara Bank&#39;s market capitalisation stood at Rs 99,559 crore, the BSE data shows. <a href="https://www.business-standard.com/markets/news/this-rekha-jhunjhunwala-owned-share-nears-rs-1-trn-mcap-plans-stock-split-124020700300_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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These stocks command market-cap of over Rs 15 trn each. Can it rise more?

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	<strong>TCS</strong></div>
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	<strong>Support: Rs 4,100; Rs 3,900</strong></div>
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	<strong>Upside Potential: 5%</strong><br />
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	TCS has given a fresh breakout on the daily scale. The near-term bias is likely to remain upbeat as long as the stock holds above Rs 4,100 level - i.e. the higher-end of the Bollinger Bands on the daily chart. <a href="https://www.business-standard.com/markets/news/these-stocks-command-market-cap-of-over-rs-15-trn-each-can-it-rise-more-124020700255_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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SBI rallies 3%, hits all time high on positive medium-term outlook

Among PSU banks, SBI has a healthy provision coverage ratio (PCR), adequate capitalisation, a strong liability franchise, and an improving asset quality outlook, making it the best play of the resilient Indian economy, according to analysts. Healthy business growth, along with stable margins and asset quality, is likely to boost profitability, they said. <a href="https://www.business-standard.com/markets/news/sbi-rallies-3-hits-all-time-high-on-positive-medium-term-outlook-124020700226_1.html" target="_blank"><strong>READ MROE</strong></a><br />
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	<img align="" alt="" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-05/19/full/1684499357-9314.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 450px;" title="" /></div>
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Sectoral trends :: Markets hold gains amid broad rally; IT slips mildly on profit booking

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Sensex Heatmap :: 27 gainers on index vs 3 lsoers; SBI, Axis Bk front runners

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Opening Bell :: Nifty starts above 22,000

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Pre-Open Session :: Sensex rises over 350 pts

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Currency Alert: Rupee strengthens 3 paise to open at 83.03/$

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RBI mulls revoking Paytm Payments Bank licence or superseding board

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	After issuing directions under Section 35A of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) is considering either cancelling the licence of Paytm Payments Bank (Paytm PB) or superseding its board after the settlement of all pipeline transactions and nodal accounts are completed by March 15, sources said. <a href="https://www.business-standard.com/companies/news/rbi-mulls-revoking-paytm-payments-bank-licence-or-superseding-board-124020601945_1.html" target="_blank"><strong>Read</strong><br />
	<img alt="Vijay Shekhar Sharma" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/06/full/1707242812-5359.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a></div>

Stocks to Watch today, Feb 7: Nykaa, ONGC, UPL, Britannia, Biocon, Paytm

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	Paytm: Paytm founder, Vijay Shekhar Sharma, met with Union Finance Minister Nirmala Sitharaman on Tuesday and discussed the ongoing issue of the company, ANI reported.<br />
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	He also held talks with the Reserve Bank of India (RBI) to discuss regulatory concerns and know if the company can transfer its wallet business and electronic toll collection system FASTag, Business Standard reported.<br />
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	Kotak Mahindra Bank: The Competition Commission of India (CCI) has approved Zurich Insurance Company&#39;s proposed 70 per cent stake purchase in Kotak Mahindra General Insurance Company. ZIC will acquire a majority stake in the Kotak Mahindra General Insurance Company from Kotak Mahindra Bank. <a href="https://www.business-standard.com/markets/news/stocks-to-watch-today-feb-7-nykaa-ongc-upl-britannia-biocon-paytm-124020700097_1.html" target="_blank"><strong>READ</strong></a><br />
	<img alt="image" src="https://bsmedia.business-standard.com/_media/bs/img/misc/2023-03/21/full/market-stocks-stock-market-trading-stock-market-1679390715-4232620.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></div>

Nifty likely to face resistance in 21,970-22,125 band: HDFC Securities

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	The Nifty rose on Feb 06, almost negating the bearish pattern of the last two days. It however needs to close above 21,970 to remove any bearish expectations for the near term.</div>
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	The Nifty could now face resistance in the 21,970-22,125 band while 21,727 could offer support on downfalls. <a href="https://www.business-standard.com/markets/news/nifty-likely-to-face-resistance-in-21-970-22-125-band-hdfc-securities-124020700068_1.html" target="_blank"><strong>Read</strong></a><br />
	<img alt="Markets, Buy, Sell, Stocks" src="https://bsmedia.business-standard.com/_media/bs/img/article/2018-02/02/full/1517562001-6178.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></div>

Benchmarks end flat, MidCap index rises 1.5%; PSB, realty stocks in demand

Stock market highlights on February 7, 2024: In the broader markets, the BSE MidCap index gained over 1.48 per cent, while the BSE SmallCap index advanced 0.35 per cent

Nifty IT, Auto Indices: Look bullish on charts, await dips to enter

DIIs buy Rs 1,096 crore worth of shares Tuesday

FIIs buy shares worth Rs 93 crore Tuesday

Crude oil tests $79 per barrel

Rupee gains 1 paise to 83.05/$ Tuesday

Gift Nifty above 22,000; signals positive start

US stock futures hold gains in after market trade

Asian stocks mostly climb higher

US stocks end with nominal gains Tuesday

Good morning readers! Catch all the live market updates here with Business Standard

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