Stock Market Today: Nifty, Sensex Rise For Third Session As HDFC Bank, M&M Lead Gains
Catch all live updates on Indian stock markets here on Feb. 15.
KEY HIGHLIGHTS
Yield On The 10-Year Bond Ends Lower
The yield on the 10-year bond closed 2 bps lower at 7.09 % on Thursday.
Source: Bloomberg
Rupee Closed Flat Against U.S. Dollar
The local currency closed flat at Rs 83.04 against the U.S.
Source: Bloomberg
Nifty, Sensex Rise For Third Session As HDFC Bank, M&M Lead Gains: Market Wrap
India's benchmark indices extended gains to third session as index-heavy HDFC Bank Ltd. rose, and Mahindra & Mahindra touched a life-time high on Thursday.
Gains in PSU Bank stocks, energy stocks also supported the benchmark indices to recoup intraday losses.
The NSE Nifty 50 settled 70.70 points or 0.32% higher at 21,910.75, and the S&P BSE Sensex ended 227.55 points or 0.32% 72,050.38. The Sensex index also reclaimed the 72,000 level since Feb 7.
Intraday, the Nifty 50 fell 0.21% to 21,794.80, and the S&P BSE Sensex fell 0.25% to 71,644.44.
"Nifty exhibited volatility throughout the day but eventually closed above the resistance level of 21,850. According to the daily chart, Nifty has experienced a consolidation breakout, indicating a positive shift in sentiment. Additionally, the index has closed above the 20DMA for the third consecutive session, and the RSI shows a bullish crossover. In the short term, there is a possibility of the index moving towards 22200. On the downside, support is situated at 21,750," Rupak De, senior technical analyst at LKP Securities.
"The Bank Nifty bulls maintained their strong dominance as the index closed above the 46,000 mark. The immediate resistance for the index is situated at the 46,600-46,800 zone, and a successful breach above this level could pave the way for further upside towards the 48000 mark. The lower-end support has shifted to the 45,800 mark, serving as a crucial cushion for the bulls in the current scenario," Kunal Shah, senior technical and derivative analyst at LKP Securities.
HDFC Bank Ltd., Mahindra and Mahindra Ltd., State Bank of India, NTPC Ltd., and Power Grid Corp of India added to gains in the benchmark index.
Reliance Industries Ltd., Axis Bank Ltd., ITC Ltd., ICICI Bank Ltd., and Hindustand Unilever Ltd capped gains in the index.
On NSE, nine sectors gained, while three sectors declined. The Nifty PSU Bank index rose over 3% and hit a life-time high, and was the top performing sectors. The Nifty Energy and Nifty Oil & Gas indices also touched a record high since their incorporation.
The Nifty FMCG index was the top loser among sectoral indices.
Broader markets outperformed. The S&P BSE Midcap rose 0.93%, and the S&P BSE Smallcap rose 1.24%.
On BSE, 18 out of 20 sectors gained, while three fell. The S&P BSE Energy rose the most among sectoral indices, while the S&P BSE Energy index rose the most.
Market breadth was skewed in favour of buyers. Around 2,353 stocks rose, 1,505 stocks declined, and 80 remained unchanged on BSE.
Coal India Signs MoU With Haryana Power Purchase Centre
Signs MoU with Haryana Power Purchase Centre for power purchase.
Haryana Power Purchase Centre to purchase power from co's unit.
Source: Exchange Filing
R Systems International Q3 Results Key Highlights (Consolidated, QoQ)
Revenue fell 8.79% to Rs 416.32 crore from Rs 457.34 crore
Ebitda fell 29.39% to Rs 45.92 crore from Rs 65.04 crore
Margin fell 319 bps to 11.02% from 14.22%
Net profit rose 4.32% to Rs 45.87 crore from Rs 43.97 crore
