Sensex slips for 3rd day, drops 379 pts, Nifty defends 15,100; ONGC up 8%

Sectorally, the Nifty PSU Bank index jumped another 5.6 per cent today, while the Nifty CPSE and Energy indices settled up to 4 per cent higher

4:17 PM

MARKET CLOSING COMMENT :: Shrikant Chouhan, Executive VP, Equity Technical Research at Kotak Securities

On the day of the weekly expiration of Index options, the benchmark index witnessed profit booking. Post muted opening the market registered selling pressure. The Nifty/Sensex opened at 15238.70/ 51903.86 and due to constant selling pressure, erased over 100 / 400 points. Among sectors, financial services, Auto and private banks witnessed selling pressure, while Nifty PSU Banks gained the most, rallied over 5.50 per cent. We are of the view that the market likely to continue the narrow range activity and PSU Banks and selective midcap and small-cap stocks will outperform in the near future. Technical, on daily charts index, maintain higher bottom series formation and the texture of the market suggests uptrend likely to continue if the Nifty/ Sensex succeed to trade above 15050/51000. Above the same, we can expect one more leg of the up move, up to 15250, 15330/ 51900, 52300. On the flip side, dismissal of 15060 would result in further weakness and in that case Nifty/Sensex could retest previous lows of 14970/50840. However, the strategy should be to buy between 15000/50900 and 14950/50700 and for that keep a stop loss at 14900/50600 levels. The focus should be on the large-cap companies as the market is approaching the major support area

4:09 PM

TECH VIEW :: Rohit Singre, senior technical analyst at LKP Securities

One more negative session witnessed on the street as the index closed at 15117 with loss of 0.60 percent and formed a bearish candle for a third consecutive session on the daily chart. Index consecutively breaking every support and now final strong support is placed at 15k mark any close below said levels can push the index to more dipper level of 14750 zone, strong resistance is coming near 15250 fresh upside-only possible if index managed to sustain above 15250 zone

3:58 PM

TECH VIEW :: Ashis Biswas, Head of Technical Research, CapitalVia Global Research

Indian stock indices turned negative, with Sensex and Nifty trading with notable losses. Domestic optimism was influenced by pessimistic hints from other Asian markets. Nifty is currently trading at 15107, down by 131 points or -0.86 % after trading in a range of 15250 and 15084. the traders are advised to refrain from building a new buying position until further improvement and breakout of 15370.

3:57 PM

MARKET CLOSING COMMENT :: S Ranganathan, Head of Research at LKP Securities

While Indices ended in the red on Thursday, the under ownership in PSU stocks was evident today also as several of them across sectors posted smart gains. The PSU bank index which rose 6% yesterday recorded huge gains for the second day in a row led by privatisation hopes. In the broader market, Non-Life Insurers & Paper stocks saw keen interest among investors

3:57 PM

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

Market remained in the mood for consolidation for the third day, impacted by negative cues from Asian markets. Globally, markets are showing weakness due to spike in US bond yield while improving corporate earnings and continued inflow of foreign funds is providing support to the domestic market. Bearish rally in the market was led by private banks and auto stocks while PSU Banks continued its outperformance on hopes of privatisation

 

3:50 PM

Market stats :: Market breadth favours bulls

3:48 PM

S&P BSE SmallCap index nears record peak of 2018

3:47 PM

Oil and Gas stocks surge on Rs 7.5-trillion infra push

3:43 PM

Sectoral trends on NSE at Close

3:41 PM

Sensex Heatmap:: Financials drag markets

3:35 PM

CLOSING BELL

Among key indices, the benchmark S&P BSE Sensex tanked 379 points today to settle at 51,325 levels. From the day's high of 51,904, the index skid over 700 points to hit a low of 51,187. 

 

NSE's Nifty50, on the other hand, slipped below the 15,150 levels to end at 15,119, down 90 points or 0.6 per cent. 

3:27 PM

BUZZING :: SBI Cards m-cap hits Rs 1-trillion mark

3:19 PM

S&P BSE IPO index up 2% in a weak market

3:07 PM

BS Podcast :: Sebi's new free float norms and what it means for LIC IPO

The Securities and Exchange Board of India (Seb) has eased the listing norms for large companies. The regulator said large companies can now divest a minimum 5 per cent in the IPO, instead of 10 per cent.

 

How and who will the Sebi move benefit? Listen to this podcast to know more.

 

2:56 PM

Tejas Networks gains 10% on government nod to PLI scheme for telecom sector

Tejas Networks designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries. Tejas' products utilise programmable, software-defined hardware architecture with a common software code-base that delivers seamless upgrades of new features and technology standards. It is ranked among top-10 suppliers in the global optical aggregation segment and has filed over 349 patents. READ MORE

2:42 PM

Paytm Money opens F&O trading, receives over 100,000 early access requests

The company said that it has enabled users with the lowest and most competitive brokerage at Rs 10 for F&O, which is in line with its intraday charges of Rs 10, and zero for delivery. The pricing disruption will benefit experienced as well as first-time traders to seamlessly trade in futures & options with a best-in-class product, on their mobile and in a secure environment. The F&O platform has seamless UI and easy onboarding that makes F&O trading accessible and feasible for every Indian. READ MORE

2:32 PM

NTPC's Gadarwara Super Thermal Power Station becomes fully operational

State-owned power giant NTPC on Thursday announced that unit-2 of its Gadarwara Super Thermal Power Station with 800 megawatt (MW) capacity, in Madhya Pradesh has been included in its installed electricity generation capacity. (Text Source: PTI)

2:30 PM

Contribution to Sensex's fall today

2:18 PM

ONGC, BPCL, HPCL: Oil and Gas stocks could surge up to 30%, charts show

Prime Minister Narendra Modi's announcement to spend around Rs 7.5 trillion to build oil and gas infrastructure in India catapulted oil and gas shares at the bourses on Thursday. "We are planning to spend around Rs 7.5 lakh crore in creating oil and gas infrastructure over five years," said the Prime Minister. Today, Indian oil and gas companies are present in 27 countries with investment worth about Rs 2.7 trillion. READ MORE

2:17 PM

European markets check

(Source: Reuters)

2:06 PM

RBI approves DHFL resolution plan from Piramal Capital and Housing Finance

The Reserve Bank of India has cleared the acquisition of Diwan Housing Finance Corporation by Piramal Capital And Housing Finance. The Piramal Group has pipped US-based asset management firm, Oaktree, by bidding far higher for the company last month and now it will merge DHFL with its financial services business as soon as the court clears the transaction. READ MORE

 

2:00 PM

Sector Watch :: Nifty PSU Bank, IT, Metal indices trade higher

1:57 PM

Market Check :: Sensex extends slide, down over 450 points

1:48 PM

Repco Home, PNB Housing Finance soar up to 18%, hit 52-week highs

Shares of Repco Home Finance and PNB Housing Finance rallied by up to 18 per cent, hitting their respective 52-week highs on the BSE in intra-day trade on Thursday, in an otherwise weak market, amid heavy volumes. LIC Housing Finance, GIC Housing Finance and Can Fin Homes were among other housing finance companies (HFCs) that too hit their respective 52-week highs in intra-day trade today as they gained between 4 per cent and 5 per cent. In comparison, the S&P BSE Sensex was down 0.61 per cent at 51,387 points around 01:15 pm. READ MORE

1:46 PM

Jefferies on Finolex Cables

1:36 PM

NFO Alert :: UTI Nifty200 Momentum 30 Index Fund

UTI Mutual Fund (UTI) launches a new open-ended Index scheme replicating/tracking the Nifty200 Momentum 30 Index – ‘UTI Nifty200 Momentum 30 Index Fund’. The New Fund Offer opens on February 18, 2021 and closes on March 04, 2021. The scheme will re-open for subscription and redemption on ongoing basis from March 12, 2021

1:36 PM

BUZZING STOCK:: Happiest Minds surges as much as 15%

1:30 PM

Oil prices climb on fears Texas freeze may hamper US crude output

Oil prices rallied again on Thursday to hit 13-month highs as concerns that a rare cold snap in Texas could disrupt U.S. crude output for days or even weeks prompted fresh buying. Brent crude climbed 89 cents, or 1.4%, to $65.23 a barrel, touching its highest since Jan. 20, 2020. U.S. West Texas Intermediate (WTI) crude futures gained 66 cents, or 1.1%, to $61.80 a barrel, registering its highest since Jan. 8, 2020.

1:22 PM

PE/VC investments drop by 35% in January to $1.6 bn: EY-IVCA data

The largest deals in January 2021 saw a group of investors including Tencent, Lightspeed, Altimeter Capital invest $280 million in Udaan.com, an online B2B trading platform, followed by Tiger Global, Steadview, Fidelity and others investing $250 million in Zomato, a platform for online food ordering and delivery. READ MORE

1:11 PM

Stocks that hit 52-week high on BSE today in an otherwise feeble market

Company	PRICE(rs)	52 WK HIGH	CHG(%)
A B B	1531.15	1565.65	2.22
ABB Power Produc	1439.00	1529.65	5.23
Aditya Birla Cap	103.80	107.55	-0.24
Ambuja Cements	281.80	290.70	-1.73
Bank Of Baroda	93.60	95.50	11.23