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
 "BSE, stock market, Stocks")
Photo: Bloomberg
Closing Bell on February 7: 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.
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.
On the downside, Infosys, Power Grid Tech M, Adani Ports, BPCL, and TCS fell over 1 per cent each.
In the broader markets, the BSE MidCap index gained over 1.48 per cent, while the BSE SmallCap index advanced 0.35 per cent.
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).
3:48 PM
Comment :: 'Continue Buy-on-dips approach until Nifty holds 21,600'
We maintain our positive stance amid consolidation and suggest continuing with a “buy on dips” approach until Nifty holds 21,600. However, participation from the banking and financial majors would be critical for trend resumption. Apart from the domestic factors, we suggest keeping a close eye on global markets for cues.
Views by: Ajit Mishra, SVP - Technical Research, Religare Broking
Views by: Ajit Mishra, SVP - Technical Research, Religare Broking
3:42 PM
Tech View :: Key levels on Nifty, Bank Nifty to watch out
Nifty50
Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
On the daily charts, we can observe that the Nifty has been trading in a narrow range since the past couple of weeks. On the upside, 22,000 – 22,050 is acting as a stiff resistance while the key hourly moving averages placed in the range 21,800 – 21,900 have been absorbing all the selling pressure.
The Nifty needs to decisively move beyond this narrow range for the trending moves to begin on either side. Until then, stock-specific action and sector rotation is likely to continue. Key support levels are 21,730 – 21,680 while immediate hurdle zone is placed at 22,000 - 22,053.
The Nifty needs to decisively move beyond this narrow range for the trending moves to begin on either side. Until then, stock-specific action and sector rotation is likely to continue. Key support levels are 21,730 – 21,680 while immediate hurdle zone is placed at 22,000 - 22,053.
Bank Nifty
Bank Nifty closed in the green after falling for three consecutive days. We expect the retracement to continue till 46,300 – 46,500 over the next few trading sessions. Crucial support is placed at 45,500 – 45,400.
Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
3:40 PM
Currency check :: Rupee ends higher vs US dollar
3:39 PM
Broader markets :: MidCap index gains 1.5%, outshines peers
3:37 PM
NIFTY HEATMAP :: 29 of 50 index stocks rally; SBI hits new high
3:36 PM
CLOSING BELL :: Nifty ends unchanged
3:35 PM
CLOSING BELL :: Sensex ends in red after a range-bound session
3:29 PM
ALERT :: Trident has been granted patent for 'A Fitted Sheet with Improved Gripping Effect' by GoI
3:16 PM
India will be world's biggest oil demand growth driver through 2030: IEA
A dearth of new discoveries will lead to India's domestic oil production shrinking to 540 thousand barrels per day (b/d) by 2030, down from 700 thousand b/d now, said the report. 'India is on track to post an increase [in demand] of almost 1.2 million barrels per day (b/d), accounting for more than one-third of the projected 3.2 mb/d global gains, to reach 6.6 mb/d by 2030." READ MORE
3:02 PM
Earnings ALERT:: Subex Q3 loss widens to Rs 4.89 cr; stock plunges 7%
Subex Q3 consolidated net loss widened to Rs 4.89 crore for the quarter ended December 2023 as against a net loss of Rs 4.68 crore in the quarter ended December 2022. Total income, however, increased by 11.8 per cent YoY to Rs 83.23 crore.
2:54 PM
Tata-owned Trent Q3 profit jumps more than two-fold; stock zooms 19%
Indian retailer and hypermarket operator Trent reported a more-than-two-fold jump in third-quarter profit on Wednesday, driven by robust demand during the festive period. The Tata Group-owned company reported a consolidated net profit of Rs 371 crore for the three months ended Dec. 31, from Rs 155 crore a year earlier. READ MORE
2:43 PM
Earnings ALERT:: Talbros Automotive Q3 net rises 69%; stock hits 5% upper limit
Talbros Automotive Q3 net profit rose 68.7 per cent to Rs 18.03 crore for Q3FY24 as against Rs 10.69 crore in Q3FY23. Total income grew 26.2 per cent to Rs 201.48 crore.
2:33 PM
Earnings ALERT:: Kopran Q3 net soars 127%; stock gains 4%
Kopran's net profit soared 127.2 per cent to Rs 15.79 crore for Q3FY24 as against Rs 6.95 crore in Q3FY23. Total income was up marginally at Rs 161.35 crore from Rs 160.22 crore.
2:22 PM
Earnings ALERT:: AIA Engineering Q3 net drops 32%; stock tumbles 6%
AIA Engineering today posted a 32.1 per cent dip in Q3 net profit at Rs 241.21 crore for the quarter ended December 2023 as against Rs 355.13 crore in the year ago quarter. Total income decreased by 4.2 per cent YoY to Rs 1,128.90 crore.
2:09 PM
Paytm, IFCI, Reliance Power and 401 other stocks freeze at upper circuits
TRF, KIOCL, GE T&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. READ MORE
Topics : MARKET LIVE MARKET WRAP stock market trading Dalal Street Markets Sensex Nifty Midcap smallcap stocks Paytm Q3 results Max Financial Services Max Life Insurance Axis Bank UPL
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First Published: Feb 07 2024 | 7:31 AM IST
