Sensex surges 455 pts, Nifty tops 21,900; IT index jumps 3%, YES Bank 12%

Stock market highlights on February 6, 2024: The Nifty Auto, Metal, and Pharma added over 1 per cent each

SI Reporter New Delhi

Photo: Bloomberg

8:32 AM

Should you buy or sell Nifty PSU or Pvt Banks? Here's what charts recommend

The Nifty Financial Services Index, currently at 20,315.85, reflects a near-term downtrend on charts. However, a strategic silver lining emerges as support is anticipated around the 20,000 and 19,550 levels.

Traders are advised to closely monitor the index around these levels, as they present opportune moments for strategic entries. The suggested trading strategy is to buy the index and its constituents when trading in proximity to the identified support zones. Read

Buy, Sell, markets, stocks, shares, investments, mutual funds, investors

8:27 AM

Stocks to Watch today, Feb 6:Paytm, BLS E-Services, Adani Power, ZEE, Nykaa

Paytm: One97 Communications Ltd (OCL), the parent company of fintech major Paytm, has denied reports about investigation or violation of foreign exchange rules by the company or its associate Paytm Payments Bank Limited.

Jio Financial Services: The company has denied being in talks to acquire the crisis-hit One 97 Communications' Paytm wallet. READ: Jio Financial Services, HDFC Bank frontrunners to buy Paytm's wallets biz

New listing: BLS E-Services shares will list on the bourses today. The company has set an issue price of approx Rs 135 per share.

HDFC, IndusInd Bank: In a letter dated February 5, 2024, the Reserve Bank of India (RBI) has approved the application of HDFC Bank Limited to acquire an "aggregate holding" of up to 9.5 per cent of the paid-up share capital or voting rights in IndusInd Bank Limited. Read
Stock market, Indian market

8:22 AM

RBI approves HDFC Bank's proposal to acquire 9.5% in IndusInd Bank

In a letter dated February 5, 2024, the Reserve Bank of India (RBI) has approved the application of HDFC Bank Limited to acquire an "aggregate holding" of up to 9.5 per cent of the paid-up share capital or voting rights in IndusInd Bank Limited, according to a regulatory filing by IndusInd Bank with the BSE. The approval has been granted following the application submitted by HDFC Bank to the RBI. Read

8:18 AM

Brent Crude holds $78 per bbl

8:14 AM

Rupee weakens 14 paise Monday to close at 83.06/$

8:09 AM

Gift Nifty signals muted start to trade

8:05 AM

Strong economic data adds to bets of lower rate cuts; US yields spike Monday

US 10-year yields climbed 14 basis points to 4.16% and those on two-year notes approached 4.5% after US services PMI data showed more than expected growth in January.

Via Bloomberg

8:02 AM