Sensex ends volatile trade 12 pts up; RIL jumps 6% this week, ITC down 7%

On the sectoral front, the Nifty Metal index skid 1.7 per cent, followed by the Nifty FMCG index declined 1.5 per cent

4:40 PM

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

Indian benchmark equity indices ended flat for the third time in the last four trading sessions on Feb 12, but posted 1.01% gains for the week. Nifty fell sharply post 1300 Hrs, but recovered post1400 Hrs. At close, the NSE Nifty 50 index ended 10 points or 0.07% lower at 15,163.

 

Nifty again closed the week with gains. Moves in the Nifty are becoming choppier in a narrow range. Institutional flows have come back to normal levels after remaining high over the last few weeks. Nifty could take support at 14753 in the coming week, while on rises 15257 could offer resistance. A breach of this level could result in continued bullish moves. 

4:24 PM

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

The market recorded a choppy session during the week. The Sensex failed to move beyond 51850 and refused to close below 51300 levels. However, during the week we saw maximum activity in medium-sized and small-sized companies that could hurt the market if they failed to break the 51850 levels. This is a strong market, but recent levels where the Indian stocks are trading are far from recent lower levels, although if we look at the previous data, whenever the Nifty recorded more than 5500 to 6500 points, it got corrected by 1500 to 2500 points. Based on the chart of large-cap companies, the weakness is increasing in the short term and it would probably lead to a quick correction to the level of 50500 or 50600. If the Sensex crosses 51900 for the 52750 levels, it would be advisable to buy. Below the level of 51300 would lead to further weakness. During the week, FIIS invested over Rs. 6,000 crore in the cash market. The dollar index fell to 90.40 from 91.40 levels and crude prices have started to cool off from highs. In the coming week, the focus should again be on infra, cement, CV and technology companies.

4:12 PM

MARKET CLOSING COMMENT :: Anand James, Chief Market Strategist at Geojit Financial Services

Risk appetite trickled down and equities pared gains with several cities across globe entering fresh lockdowns. Oil’s winning streak was also broken following IEA’s bleaker demand outlook. Indian equities were in the green in the first half with Bank Nifty rising over 1%, but VIX rose in the second half, and traders opted cut down long bets across sectors, going into the weekend

4:11 PM

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

The market's short-term technical conditions favoring a sideways correction is in the process. While it is subject to further price action evolution, we retain our cautious stance and advise the traders to refrain from building a new buying position until we see further improvement and breakout above 15250 (Nifty 50 Index). The momentum indicators like RSI, MACD continue showing divergence, the market is likely to take a pause around this level and stay in a range. We expect the 15230-15250 level to act as short-term resistance.

4:11 PM

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

Index managed to hold the bullish stream throughout the week and closed a week at 1563 with gains 1.60 percent and formed a small bullish candle on weekly chart. The index has formed good support at 15k mark any dip near said levels will be again buying opportunity for the overall targets of 15250 zone which is the strong hurdle on the higher side. The current range is 15000-15250 zone either side breakout will decide the final direction of index

4:10 PM

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

Market can undergo some consolidation after the sharp gains made post the reformist union budget. The broad undercurrent of the market may remain constructive especially on the small and midcaps. But the sentiment of global market will play an important role in deciding the short-term trend which is getting mixed due to weakening European market

4:01 PM

SECTOR OF THE DAY :: Metal stocks dip on weak global cues

4:00 PM

SECTOR OF THE DAY :: Nifty Bank ends 1% higher

3:58 PM

STOCK ALERT :: Titan extends losses into second day, ends 2% down

3:56 PM

STOCK ALERT :: SBI Cards and Payment Services ends marginally lower

3:55 PM

STOCK ALERT :: HDFC ends with m-cap of Rs 5.02 trillion

3:51 PM

S&P BSE MidCap index ends 0.06% higher

3:49 PM

Stocks that lifted Sensex today

3:46 PM

Sectoral trends on NSE at Close

3:45 PM

Sensex Heatmap at Close

3:35 PM

CLOSING BELL

The benchmark S&P BSE Sensex tumbled 543 points from's the day's high to hit an intra-day low of 51,261. At close, the index was at 51,544 levels, up 13 points or 0.02 per cent.

The NSE's Nifty50, meanwhile, ended at 15,163 level, down 10 points or 0.07 per cent.

3:30 PM

Govt to consider bringing down GST on pesticides to 5% from 18%

Along with fertilisers, pesticide is also an important agro input that helps in curbing pests and diseases on plants and plays a major role in increasing agricultural production. But unlike fertilisers that attract 5 per cent GST, pesticide is charged GST at 18 per cent, even higher than 12 per cent VAT before introduction of the new indirect tax system. READ MORE

3:22 PM

MARKET CHECK

3:12 PM

Adani Enterprises enters top-50 most-valued companies list

Today, Adani Enterprises surpassed steel major Tata Steel, personal products company Godrej Consumer Products, private lender IndusInd Bank, two-wheeler company Eicher Motors, paints company Berger Paints and real estate developer DLF. In comparison, the S&P BSE Sensex was down 0.09 per cent at 51,486 points. READ MORE

3:00 PM

UK economy shrinks 9.9% amid pandemic, biggest annual decline on record

Andy Haldane, chief economist for the Bank of England, said the rapid vaccination of people across the UK would ease COVID-19 restrictions and unleash an economic recovery. READ MORE

2:49 PM

BUZZING STOCK:: Adani Enterprises rallies 9%

2:39 PM

NEWS ALERT | Budget provisions for poor, dalits and tribals: FM Sitharaman

-- Infrastructure creation, continuing reforms, transparency of accounts features of Budget, says FM

2:35 PM

NEWS ALERT | Stimulus provision in Budget is for economic revival: FM Sitharaman

-- Reforms taken during pandemic to revive growth: FM

2:33 PM

NEWD ALERT :: It's a Budget which draws on the experience, administrative capacities, says FM in Parliament

2:33 PM

NEWS ALERT | Budget instrument for Aatmanirbhar Bharat: FM Sitharaman, replying to debate on Budget in RS

-- Working for country's poor people: FM

-- With short-term solutions, we are also looking at medium and long term sustainable growth to keep India on fastest growing economy trajectory: FM

2:24 PM

Greenply Industries zooms 19% on strong operational performance in Q3

Consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) margins rose by 119 basis points year on year (YoY) to 12.8 per cent, on sustained focus on reducing overheads and making operations more efficient. The company said the margin was expected to improve post Covid-19 from FY22 with increase in revenue and cost rationalization measures. READ MORE

2:15 PM

Large-cap PMS schemes fall behind benchmark index returns in January

Companies providing portfolio management services (PMS) had a tough time beating the benchmark index in January, with more than half of the schemes invested in large companies underperforming in the run-up to the Union Budget. The Nifty 50 index was down 2.5 per cent during the month. Only around 44 per cent of PMS schemes did better, among the schemes investing in large-cap companies. READ MORE

2:09 PM

RIL, ITC, Airtel among stocks dragging Sensex lower

2:02 PM

MARKET UPDATE:: Sensex slips into the red

1:50 PM

NEWS FLASH :: RBI okays appointment of Subramonia Iyer as Dhanlaxmi Bank Chairman