Sensex ends 222 pts higher, Nifty tops 15,150; RIL gains 4%, PSB stocks dip

On the sectoral front, Nifty PSU Bank index declined over 1 per cent on the NSE, followed by losses in the Nifty Auto index (down 0.4 per cent), and the Nifty Realty index (down 0.24 per cent)

4:17 PM

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Research, HDFC Securities

Indian benchmark equity indices closed higher on February 11 after consolidating in the previous two sessions. Nifty opened lower but quickly rose in the first half hour of trade and later remained in a range. At close, the Nifty was up 66.80 points or 0.44% at 15,173.30.

 

Volumes on the NSE were below recent average suggesting lower institutional interest at these levels. Among sectors, All sectors except Auto and PSU Bank ended in the positive. Metals, FMCG and IT indices rose the most.

 

Nifty rose mildly on Feb 11 after a sideways move on the previous two sessions. It could remain in the 15064-15257 band in the near term and a breakout either side could see action in that direction. 

4:07 PM

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

Some lackluster movement witnessed in the market. Nifty 50 Index is still trading below the resistance level of 15250. The breakout above 15250 is critical for the Index to regain its upside momentum. Therefore,  the short-term traders should use the rally to exit while buying any dip towards the support level around 14900-14800. The momentum observed in the indicators like RSI, MACD to continue showing divergence, supporting the view that the market is likely to take a pause around this level and stay in a range.

4:01 PM

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

Index closed a day on a positive note at 15173 with gains of half a per cent, the index has formed a range and it’s trading within the same range last four sessions. The overall range for nifty is coming at 15k on the downside and 15250 on the higher side so unless we see either side breakout final direction will not be clear and index may trade sideways in the same range

4:00 PM

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

The domestic market closed with slight gains after its range-bound rally, tracking gains in index heavyweights and positive European & Asian markets. The upward movement in the market was supported by energy, telecom and FMCG stocks with small caps outperforming. Dip in January auto retail sales numbers pushed the sectoral index into the negative territory while PSU banks also remained under pressure

3:59 PM

Market stats :: BSE m-cap reaches Rs 204-trillion mark

3:58 PM

SECOR WATCH :: Metal stocks dip

3:57 PM

SECTOR WATCH :: PSB stocks slip in a strong market

3:55 PM

CHANGE OF GUARD :: Magma Fincorp ends 10% higher on Poonawalla buy out

3:51 PM

OFF LOWS :: Bata India erases losses partially

3:49 PM

STOCK ALERT :: Route Mobile remains locked in 20% upper circuit at close

3:48 PM

STOCK ALERT :: Titan Company ends 2.5% lower on margin concerns

3:45 PM

Sectoral trends on NSE :: PSBs skid, Metal stocks advance

3:40 PM

Sensex Heatmap :: RIL helps index erase losses

3:35 PM

CLOSING BELL

Propelled by over 4 per cent gain in Reliance Industries, and over 1 per cent gain each in HUL, Bajaj Finance, and Bharti Airtel, the benchmark S&P BSE Sensex advanced 222 points, or 0.43 per cent, at close to settle at 51,531.5 level on the BSE. 
 

NSE's Nifty50, on the other hand, ended the day at 15,173-mark, up 67 points or 0.44 per cent.

3:25 PM

Tube Investments net profit in third quarter rises 37% to Rs 107 cr

“TII has delivered strong results driven by the overall revival in the economy and easing of the lockdown restrictions for COVID-19. The Company is witnessing improved performance in most of its segments and expects that this momentum is likely to continue, as the economy, which has started showing signs of revival, improves further," said the company in a statement. READ MORE

3:15 PM

Dec Quarter Result :: PFC clocks net profit of Rs 3,963 crore

>> Revenue at Rs 18,435 crore

3:05 PM

Coal India Q3 results: Net profit declines 21% to Rs 3,084 crore

State-owned Coal India Ltd (CIL) on Thursday reported a 21.3 per cent decline in consolidated net profit at Rs 3,084 crore for quarter ended December 31, 2020 (Q3FY21). It was Rs 3,921.81 crore in the same period a year ago. Sequentially, the profit rose marginally by 4.5 per cent. It was Rs 2,951 crore in the preceding quarter. Revenue from operations during the quarter increased to Rs 23,686 crore from Rs 23,190 crore in the year-ago period, up 2. per cent year-on-year. The company's total expenses stood at Rs 19,592 crore in the latest December quarter. READ MORE

2:55 PM

Recovery from intra-day lows in today's trade

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
V-Mart Retail	2480.05	2982.20	2982.20	20.25
Indian Energy Ex	272.00	322.85	308.00	13.24
BASF India	1765.00	2000.00	1950.95	10.54
Prism Johnson	104.35	116.00	114.90	10.11

2:53 PM

Elon Musk's younger brother sells Tesla shares worth $25.6 million

Kimbal Musk, the younger brother of Elon Musk and a Tesla Inc. board member, sold $25.6 million of shares in the electric carmaker, according to a filing with the US Securities & Exchange Commission. The 48-year-old sold 30,000 shares on Feb. 9 at an average price of $852.12, according to the filing. Tesla shares dropped 5.3 per cent Wednesday to close at $804.82. Tesla soared 743 per cent in 2020 and is up a further 14 per cent this year. READ MORE

2:41 PM

Advance-decline ratio at 4:3 on the BSE

2:32 PM

Sebi examines feasibility to introduce freight derivatives contracts

With a view to introduce new products for development of the commodity market, the Securities and Exchange Board of India (Sebi) is examining the feasibility of introducing derivatives contracts on freight.

 

As freight is one of the important cost factors in the commodities market, the regulator said introduction of derivatives on freight whether on rail, road, air or waterways would help the industry to hedge their freight related price risks. READ MORE

2:22 PM

BHEL bags order to supply 2 Super Rapid Gun Mounts for Indian Navy frontline ships

2:10 PM

Route Mobile rallies 20%, Affle India locked in 10% upper circuit

Shares of Route Mobile and Affle India, on Thursday, hit their respective record highs and were frozen in their respective upper limits on the BSE in an otherwise range-bound market. In comparison, the S&P BSE Sensex was up 0.09 per cent at 51,356 points, at 01:28 pm. Route Mobile was locked in 20 per cent upper circuit at Rs 1,527 on the back of heavy volumes. The trading volumes on counter jumped over four-fold with a combined 3.26 million equity shares changing hands. There were pending buy orders for 173,000 shares on the BSE and NSE, exchange data shows. READ MORE

2:01 PM

Explained :: Why Tamilnad Mercantile Bank management is banking on an IPO

Hundred-year old Tamilnad Mer­cantile Bank (TMB), which has been at the centre of an internal feud for nearly two decades, is gearing up for an initial public offering (IPO) later this year.

 

Is this undue optimism on the part of a small, conservative bank roiled by warring shareholders and little known outside its home state? In fact, the IPO is seen as a way of ending the dispute by opening the exit door for some investors even as it allows for price discovery for existing shareholders, most of whom are businesspeople. READ MORE

1:52 PM

Q3 EARNINGS | Graphite India reports profit of Rs 23 crore

-- Revenue dips 22.4% YoY at Rs 499 crore

1:45 PM

Analysts bullish on this Jhunjhunwala favourite post Q3 numbers; here's why

Brokerages retained their bullish views on jewellery maker Titan Company post its December quarter results and revised their earnings estimates upwards in anticipation of a strong growth going ahead. The company, in which ace investor Rakesh Jhunjhunwala holds 5.32 per cent stake as of December quarter, on Wednesday posted an 11.81 per cent year-on-year (YoY) increase in consolidated net profit to Rs 530 crore for the third quarter ended in December 2020, led by income growth in the jewellery division. READ MORE

1:36 PM

RIL alone drives BSE Energy index over 2% higher

1:22 PM

Rs 819-crore RailTel IPO to open on Feb 16; price band set at Rs 93-94

State-owned RailTel Corporation of India on Thursday fixed a price band of Rs 93-94 a share for its initial share-sale, which will open for public subscription on February 16. The initial public offer (IPO) is entirely an offer-for-sale through which government will offload 87,153,369 equity shares, amounting to 27.16 per cent stake, the company said in a statement.

 

(Source: PTI)

1:10 PM

NEWS ALERT | L&T Construction bags orders in the range of Rs 1,000-2,500 cr for Transportation Infra biz

1:04 PM

RESULT REACTION:: MRF dips 3%