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Stock market highlights on February 15, 2024: Energy and oil & gas sector largecaps NTPC, Power Grid, BPCL and ONGC were among the top frontline gainers, closing 3-5 per cent up

BSE, NSE, Sensex, Nifty, stock markets

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	<strong>Stock market highlights:&nbsp;</strong>Equity markets closed Thursday&#39;s volatile trade in the positive territory albeit off the day&#39;s high. The BSE Sensex ended 228 points higher at 72,050 and the NSE Nifty gained 71 points to close at 21,911.<br />
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	<strong>M&M</strong> gained most among largecaps, ending with a gain of nearly 7 per cent after scaling a new high on firm Q3 results. Its net profit rose 61 per cent YoY to Rs 2,454 crore.&nbsp;</div>
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	Energy and oil & gas sector largecaps NTPC, Power Grid, BPCL and ONGC were the next top frontline gainers, closing 3-5 per cent up. SBI and HDFC Bank gained over 2 per cent each, aiding the Sensex gains.&nbsp;</div>
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	ITC, Nestle, HUL and Britannia were the top drags along with Axis Bank, Reliance, Apollo Hospitals and Sun Pharma, ending 0.7-2 per cent lower.&nbsp;</div>
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	The BSE MidCap and SmallCap indices, meanwhile, closed with relatively higher gains of nearly 1 per cent each.&nbsp;<br />
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	Nifty PSU Bank index led sectoral gains, closing 3 per cent higher. Nifty FMCG and Pharma were the notable underperformers.<br />
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	Among stocks, <strong>MRPL</strong> was among the top BSE gainers, ending frozen at the 20 per cent upper circuit. <strong>ZEE Entertainment</strong> fell 6 per cent after Business Standard reported that Reliance Industries is in talks to buy Disney&#39;s 30 per cent stake in Tata Play.&nbsp;</div>

Sensex ends 228 pts higher, Nifty above 21900; M&M soars 7%, ZEEL dips 6%

Business Standard

Sensex ends 228 pts higher, Nifty above 21900; M&M soars 7%, ZEEL dips 6% | News on Markets - Business Standard

Commodity ALERT:: Brent Crude Oil futures hold above $80-mark

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	<img align="left" alt="chart" class="imgCont" height="293" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/15/full/1707964691-7456.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 consolidate around $2,000 per ounce

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	<img align="left" alt="chart" class="imgCont" height="293" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/15/full/1707964523-7772.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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Nifty IT, Auto: Key levels to watch out for on these two indices

According to Ravi Nathani, an independent technical analyst, the Nifty IT index is likely to face stiff resistance between 38,000 - 38,125. <a href="https://www.business-standard.com/markets/news/nifty-it-auto-key-levels-to-watch-out-for-on-these-two-indices-124021500058_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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US Market Update:: S&P 500, Nasdaq end over 1% higher

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	<img align="left" alt="chart" class="imgCont" height="293" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/15/full/1707964271-6114.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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Good morning readers! Catch all the live market updates here with Business Standard

Catch all the live market updates here with Business Standard

Zomato zooms 5%, nears record high after CLSA raises target price by 22%

CLSA maintained its &#39;buy&#39; rating on Zomato and lifted the target price from Rs 181 to Rs 227 per share. <a href="https://www.business-standard.com/markets/news/zomato-gains-5-nears-record-high-clsa-maintains-buy-with-43-upside-124021500889_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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<div style="float: left; max-width: 600px;">
	<img align="" alt="Zomato is now allowing its users to build multiple carts at one time" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-06/29/full/1688027134-3036.jpeg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="Zomato is now allowing its users to build multiple carts at one time" /></div>
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Share price of this ONGC subsidiary has zoomed over 100% in 3 months

Shares of Mangalore Refinery &amp; Petrochemicals (MRPL) hit a new high of Rs 240, as they surged 18 per cent on the BSE in Thursday&rsquo;s intra-day trade backed by heavy volumes. The average trading volumes at the counter jumped nearly four-fold. <a href="https://www.business-standard.com/markets/news/share-price-of-this-ongc-s-subsidiary-has-zoomed-over-100-in-3-months-124021500835_1.html" target="_blank"><strong>Read</strong><br />
<img alt="MRPL Q4 net profit up 15.7 per cent in fourth quarter" src="https://bsmedia.business-standard.com/_media/bs/img/article/2016-05/12/full/1463061024-6182.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a>

ALERT: January trade deficit contracts to $17.49 billion from $19.8 billion in Dec

It was $17.03 billion a year ago.&nbsp;<br />
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January exports at $36.92 billion vs $35.89 billion last year<br />
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January imports at $54.41 billion vs $52.83 billion last year

Mahindra & Mahindra rallies 6%, nears record high on solid Q3 performance

Shares of Mahindra &amp; Mahindra (M&amp;M) rallied 6 per cent to Rs 1,750 on the BSE in Thursday&rsquo;s intra-day trade amid heavy volumes after the company said the group delivered &lsquo;solid&rsquo; operating performance across all business verticals except Tech Mahindra. The stock of Mahindra Group automobile company was trading close to its record high of Rs 1,758 touched on December 29, 2023. <a href="https://www.business-standard.com/markets/news/mahindra-mahindra-rallies-6-nears-record-high-on-solid-q3-performance-124021500682_1.html?1707980813" target="_blank"><strong>Read</strong><br />
<img alt="Mahindra and Mahindra, M&amp;M" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-02/14/full/1707932604-928.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a>

Hindustan Unilever hits fresh 52-week low; brokerages share mixed outlook

Shares of Hindustan Unilever (HUL) hit a fresh 52-week low of Rs 2,362.10, down 1 per cent on the BSE in Thursday&rsquo;s intra-day trade. Since January, the stock of fast moving consumer goods (FMCG) major has slipped 11 per cent on concerns of the near-term growth and higher competition. In comparison, the S&amp;P BSE Sensex was down less than 1 per cent thus far in calendar year 2024. <a href="https://www.business-standard.com/markets/news/hindustan-unilever-hits-fresh-52-week-low-slips-11-since-january-124021500590_1.html" target="_blank"><strong>Read</strong><br />
<img alt="Hindustan Unilever" src="https://bsmedia.business-standard.com/_media/bs/img/article/2017-04/08/full/1491596779-828.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a>

19% of global fund managers bullish on India; Japan most preferred: BofA

19 per cent of global fund managers remain bullish on India, suggests the latest BofA Asia Fund Manager Survey (FMS). A total of 249 panelists with $656 billion worth of assets under management (AUM) participated in the survey between February 2 and 8, BofA said. <a href="https://www.business-standard.com/markets/news/19-of-global-fund-managers-bullish-on-india-japan-most-preferred-bofa-124021500555_1.html" target="_blank"><strong>Read</strong><br />
<img alt="Photo: Bloomberg" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-09/10/full/1631286316-3649.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a>

Lumax Auto hits all-time high; zooms 28% in 3 days on healthy Q3 results

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	Shares of Lumax Auto Technologies rallied 10 per cent to hit an all-time high of Rs 496.70 on the BSE in Thursday&rsquo;s intra-day trade aided by a strong business outlook.<br />
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	The stock of the auto ancillary company surpassed its previous high of Rs 469 touched on August 6, 2023. <a href="https://www.business-standard.com/markets/news/lumax-auto-hits-all-time-high-zooms-28-in-3-days-on-healthy-q3-results-124021500546_1.html" target="_blank"><strong>Read</strong></a><br />
	<img alt="Sensex, Nifty, stock brokers" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-04/05/full/1680686226-6079.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></div>

Oil India hits new high, surges 15% in 2 days on strong production outlook

Oil India&#39;s earnings growth over the next 3-5 years is likely to be aided by expansion of Numaligarh Refinery Limited (NRL) refinery. <a href="https://www.business-standard.com/markets/news/oil-india-surges-15-in-2-days-hits-new-high-on-strong-production-outlook-124021500479_1.html?1707973109" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Oil India likely to exit US, Russia blocks; to stay in Venezuela" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2019-05/19/full/1558285824-0024.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Oil India likely to exit US, Russia blocks; to stay in Venezuela" width="620" /></div>
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ALERT:: Paytm hits fresh low, down 4% after ED start probe under FEMA

The Directorate of Enforcement (ED) has launched a preliminary investigation or a pre-open inquiry into alleged violations related to the Foreign Exchange Management Act (Fema) in the Paytm Payments Bank case, sources said. ED is learnt to have sought further clarification on the matter from the central bank.&nbsp;<br />
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Sensex earnings yield gap with 10-year US treasury bond turns negative

A negative spread between Indian equity yield and US long-term Treasury bond makes Indian equities less attractive for foreign investors and may lead to a selloff by FPIs. <a href="https://www.business-standard.com/economy/news/spread-between-sensex-earnings-yield-us-govt-bond-yield-turns-negative-124021401568_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Is there more room for downside in small-caps?

While benchmark indices are flat so far in Feb, it has mostly been a one-way street for small-cap stocks that have taken it on their chin with sharp cuts. Will the trend hold? <a href="https://www.business-standard.com/shows/the-morning-show/is-there-more-room-for-downside-in-small-caps-3777.htm" target="_blank"><strong>Watch Video</strong></a><br />
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ALERT:: Gift Nifty futures quote near 22,000, suggest 70-odd point gap-up

FPIs' investment value in equities jumps 13% to $738 bn in Dec quarter

&quot;This could be attributed to the good performance of the domestic equity markets as well as strong net inflows from FPIs,&quot; the report noted. <a href="https://www.business-standard.com/markets/news/fpis-investment-value-in-equities-jumps-13-to-738-bn-in-dec-quarter-124021400824_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="FPIs or foreign portfolio investors may have started responding to the second wave by cutting back on their India exposure" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-05/08/full/1620414129-7195.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Overseas investors, FPIs" width="620" /></div>

RIL in talks for stake in Tata Play, may buy Disney's 29.8% share

Mukesh Ambani-owned Reliance Industries (RIL) is in discussions to acquire a 29.8 per cent stake in Tata Play from the Walt Disney Company, according to sources close to the development. This move is seen as part of RIL&rsquo;s broader strategy to deepen its footprint in India&rsquo;s television distribution sector. <a href="https://www.business-standard.com/companies/news/ril-in-talks-for-stake-in-tata-play-may-buy-disney-s-29-8-share-124021401730_1.html" target="_top"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Reliance Industries, Reliance, RIL" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-04/23/full/1682249330-2022.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="Reliance Industries, Reliance, RIL" /></div>
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Stocks to Watch today: RIL, Paytm, Vedanta, Coal India, Glenmark, NMDC

In news today - Reliance eyes stake in Tata Play, Vedanta parent mulls stake sale to GQG Partners and ED launches probe in Paytm. <a href="https://www.business-standard.com/markets/news/stocks-to-watch-today-ril-paytm-vedanta-coal-india-glenmark-nmdc-124021500073_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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