Sensex ends choppy session 483 pts up; banks, IT stocks rally, metals slide

Stock market updates on February 13, 2024: In the broader markets, indices swung between zones with the BSE MidCap and SmallCap indices, eventually, closing 0.6% and 0.18% up, respectively

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Closing Bell on February 13, 2024: Equity markets were volatile on Tuesday as investors were stuck between 'buy on dips' and 'sell the rally' strategies. 

The S&P BSE Sensex ended the session 483 points, or 0.68 per cent, higher at 71,555 levels, while the Nifty50 shut shop with gains of 127 points, or 0.59 per cent, at 21,743 levels.

ICICI Bank, Axis Bank, Kotak Bank, Wipro, NTPC, IndusInd Bank, and Reliance Industries were the top Sensex gainers, rising in the range of 0.7 per cent to 2.3 per cent. 

In the broader markets, indices swung between zones with the BSE MidCap and SmallCap indices, eventually, closing 0.6 per cent and 0.18 per cent higher, respectively. 

Among sectors, the Nifty Metal index dropped over 1.9 per cent, followed by the Nifty Media index (down 0.2 per cent). On the upside, the Nifty Bank, Financial Services, PSU Bank, and Private Bank indices added over 1 per cent each. 
3:59 PM

Comment :: What all happened in the markets today?

The domestic market largely recovered from yesterday's losses, driven by gains in the banking sector. Improved sentiment stemmed from a decline in domestic inflation, which is expected to boost rural demand. Despite this, broader markets continued to underperform compared to frontline indices due to high valuations. However, investors remained cautious ahead of U.S. inflation data, anticipating a moderation, pivotal for the Fed's interest rate trajectory.

Views by: Vinod Nair, Head of Research, Geojit Financial Services.
3:39 PM

Currency check :: Rupee ends 1 paise down at 83.01/$

3:38 PM

Broader markets :: Mid, SmallCap indices stabilise after Monday's slide

3:36 PM

NIFTY HEATMAP :: Financials help indices recover lost ground; ICICI, Axis Bank lead

3:35 PM

CLOSING BELL :: Nifty tops 21,700

3:34 PM

CLOSING BELL :: Sensex rises nearly 500 pts in a choppy session

3:29 PM

Hindalco Industries Q3 result: Profit rises 71% to reach Rs 2,331 cr

The company had posted a net profit of Rs 1,362 crore in October-December FY23, Hindalco Industries said in a filing to BSE. READ MORE

3:21 PM

NCLT extends deadline for Go First's insolvency for another 60 days

This is the second such extension granted by the NCLT. The tribunal had on November 23 last year granted an extension of 90 days, which ended on February 4. The three firms, including budget carrier Spicejet, Sharjah-based Sky One, and African continent-focused firm Safrik Investments, have shown interest in buying Go First. READ MORE

3:08 PM

Global check:: US, UK stock futures down up to 0.5%

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Source: Investing.com

2:59 PM

Earnings ALERT:: Take Solutions loss narrows to Rs 2 cr; stock slips 2%

Take Solutions posted a net loss of Rs 2.14 crore for the quarter ended December 2023 as against a loss of Rs 10.22 crore in the year ago period. Total income plunged 65.3 per cent YoY to Rs 17.94 crore.

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2:49 PM

Earnings ALERT:: Info Edge posts Rs 213 cr profit in Q3; stock down 1%

Info Edge today reported a net profit of Rs 213.53 crore for the quarter ended December 2023. In comparison, the company had reported a net loss of Rs 84.26 crore in the year ago period. Total income grew 11.1 per cent YoY to Rs 660.38 crore.

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2:37 PM

Recently listed IPO slides 49% from record high, falls below issue price

Shares of Flair Writing Industries hit a record low of Rs 264.65 as they were locked in the 10-per cent lower circuit on the BSE on Tuesday. READ MORE

Photo: Reuters


2:26 PM

Earnings ALERT:: Siemens Q3 net rises 9%; stock gains 2%

Siemens Q3 consolidated net profit rose 9.3 per cent to Rs 505.70 crore for the quarter ended December 2023 as against Rs 462.70 crore in the same period a year ago. Revenue from operations increased by 20.2 per cent YoY to Rs 4,825.20 crore.

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2:14 PM

JSW Steel forms JV with Japanese firm to produce steel variety in India

JSW Steel on Tuesday announced establishing a 50:50 joint venture (JV) with JFE Steel Corporation Japan for producing in India a kind of steel used in the production of energy-efficient transformers. READ MORE

JSW Steel
2:02 PM

Trading at India's MCX resumes after 4-hour delay due to technical snag

The technical snag comes just under four months after the new commodity derivatives platform went live following several delays and regulatory interventions. READ MORE

MCX


1:51 PM

Earnings ALERT:: MTNL Q3 loss widens to Rs 842 cr; stock tumbles 7%

MTNL posted a net loss of Rs 841.79 crore for the third quarter ended December 2023 as against a loss of Rs 778.04 crore in the same period a year ago. Total income declined 5.5 per cent YoY to Rs 311.41 crore.

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1:40 PM

India narrows gap with China in key MSCI index with weight hitting new high

India has narrowed the gap with China in MSCI's Global Standard index, which tracks emerging market stocks for investors, after the latest revision. Index provider MSCI raised India's weightage in the index to an all-time high of 18.2 per cent on Tuesday, which could lead to inflows of about $1.2 billion, analysts said. READ MORE

the Army sources said they met one-to-one for almost three hours before engaging further at delegate-level talks

1:27 PM

Earnings ALERT:: NRB Bearings profit jumps 8-fold in Q3; stock up 2%

NRB Bearings today reported a 7.8-fold jump in Q3 net profit at Rs 161.91 crore for the quarter ended December 2023 when compared with Rs 20.73 crore in the same period a year ago. Total income, however, was down 1.1 per cent YoY at Rs 257.85 crore.

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1:14 PM

IT services provider LTIMindtree grooming two insiders for CEO job

Chief Operating Officer Nachiket Deshpande and President Sudhir Chaturvedi are the front-runners for the role. READ MORE

LTIMindtree

1:01 PM

Earnings ALERT:: KIOCL reports Q3 turnaround; stock up 3%

KIOCL today reported a net profit of Rs 39.03 crore for the third quarter ended December 2023. In the same period a year ago, the company had posted a net loss of Rs 33.88 crore. Total income surged 82.7 per cent YoY to Rs 561.16 crore.

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First Published: Feb 13 2024 | 8:03 AM IST

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