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Stock Market HIGHLIGHTS: Sensex ends listless session 124 pts lower, Nifty50 holds 17,850 as market halts two-day winning run
Written By Sandeep Singh
Published: 7:51 AM, Feb 10, 2023 | Updated: 6:22 PM, Feb 10, 2023
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 ended a weak session in the red on Friday though recovering more than half of their intraday losses. Globally, equities saw largely negative mooves as a spike in US bond yields overshadowed earnings optimism, and concerns about hawkish major central banks continued to worry investors.
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 ended a weak session in the red on Friday though recovering more than half of their intraday losses. Globally, equities saw largely negative mooves as a spike in US bond yields overshadowed earnings optimism, and concerns about hawkish major central banks continued to worry investors.
Here are key things to know about the February 10 session on Dalal Street:
1. Both headline indices finished the day with a cut of 0.2 per cent. The Sensex lost 123.5 points to end at 60,682.7, having declined as much as 304.5 points during the session, and the Nifty50 settled at 17,856.5, down 37 points from its previous close. The 50-scrip gauge moved broadly within the 17,800-17,900 band in intraday trade.
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2. A total of 27 stocks in the Nifty50 basket ended in the red. Adani Enterprises was the top laggard, closing 3.8 per cent lower. HCL Tech, Hindalco, Tata Steel, Coal India, Reliance and ITC were the other top blue-chip losers, falling around 1-3 per cent each. On the other hand, Tata Motors, UPL, Cipla, Hero MotoCorp, HDFC Life, Tata Consumer and Larsen & Toubro were the top gainers, rising between 0.6 per cent and 1.8 per cent.
3. Among heavyweights, Reliance, ICICI Bank, HCL Tech, Infosys and ITC were the biggest drags on the 50-scrip index, whereas Larsen & Toubro, Tata Motors, the HDFC twins and Bharti Airtel brought the maximum support.
4. Broader indices Nifty Midcap 100 and Nifty Smallcap 100 rose 0.2 per cent and 0.5 per cent respectively. The BSE 500, however, inched 0.1 per cent lower with almost 280 of its constituents rising for the day.
5. Overall market breadth was skewed in favour of the bulls, with an advance-decline ratio of 6:5 as 1,861 stocks rise and 1,594 fall at the close on BSE.
6. LIC shares ended 1.1 per cent higher at Rs 620.1 apiece on BSE, a day after the state-run life insurance giant reported a 35.5 times jump in its quarterly net profit.
8. Mahindra & Mahindra (M&M) shares slipped into the red, ending 0.5 per cent lower for the day at Rs 1,365.2 apiece on BSE, after the auto major's quarterly net profit fell short of analysts' expectations.
9. The rupee finished barely stronger at 82.50 against the US dollar.
10. European markets retreated on Friday, mirroring their Asian peers, as traders gauged the prospects of a prolonged global monetary policy tightening. The pan-European Stoxx 600 index was down 0.6 per cent at the last count. S&P 500 futures were down half a per cent, suggesting a weak start ahead on Wall Street. On Thursday, the S&P 500, the Dow Jones and the Nasdaq Composite dropped around one per cent each.
Catch all of the market action through the day, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, investment ideas, trading calls and much more on Zeebiz.com's blog:
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10 Feb 2023, 6:21 PM (IST)
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10 Feb 2023, 3:41 PM (IST)
Stock Market Update | Sensex ends 124 pts lower at 60,683, Nifty50 at 17,857
Closing Bell: Both headline indices finish the day 0.2 per cent lower. The Sensex loses 123.5 points to end at 60,682.7, having declined as much as 304.5 points during the session. The Nifty50 settles at 17,856.5, down 37 points from its previous close, after moving broadly within the 17,800-17,900 band in intraday trade.
Here's how the main gauges moved through the day:
Sensex
Nifty50
10 Feb 2023, 3:26 PM (IST)
Stock Market LIVE Update | Reliance, ICICI Bank, Infosys, HCL Tech, ITC top drags on Sensex
On the flipside, gains in the HDFC twins are lending support to the 30-scrip index, keeping its downside in check.
10 Feb 2023, 2:39 PM (IST)
Stock Market LIVE Update | Paytm shares slide, halt four-day rally
Paytm parent One97 Communications' shares fall by as much as Rs 66.6 or 9.3 per cent to Rs 646 apiece on BSE.
According to news agency ANI, Alibaba exited India, selling its entire stake in Paytm.
Alibaba exits India - sells its entire stake holding in Paytm
Read @ANI Story | https://t.co/sQH68Ogv0C#Paytm #Alibaba #One97Communications pic.twitter.com/agBaf2v3Ax
— ANI Digital (@ani_digital) February 10, 2023
10 Feb 2023, 2:35 PM (IST)
Stock Market LIVE Update | Overall market breadth skewed in favour of the bulls
Less than one hour before the closing bell, the market breadth remains positive. On BSE, the advance-decline ratio is 6:5 as 1,870 stocks are in the green and 1,517 in the red.
10 Feb 2023, 1:39 PM (IST)
Stock Market Tips LIVE | Sameet Chavan recommends buying SRF, Mahanagar Gas
Sameet Chavan of Angel One shares two stock picks:
- Buy SRF at Rs 2,280 for a target of Rs 2,370 with a stop loss at Rs 2,230
- Buy the Rs 900 call option of MGL for a target of Rs 30 with a stop loss at Rs 11
10 Feb 2023, 1:39 PM (IST)
Stock Market Tips LIVE | Sanjiv Bhasin recommends buying Vedanta, IDFC First shares
Sanjiv Bhasin of IIFL Securities shares two stock picks with Zee Business viewers:
- Buy Vedanta for a target of Rs 330 with a stop loss at Rs 299
- Buy IDFC First Bank for a target of Rs 60 with a stop loss at Rs 57
10 Feb 2023, 1:02 PM (IST)
Stock Market LIVE Update | Mahindra & Mahindra shares slip into the red after Q3 results
Mahindra & Mahindra (M&M) shares decline by as much as Rs 16.9 or 1.2 per cent to Rs 1,355.8 apiece on BSE minutes after the release of the auto company's financial results.
Mahindra & Mahindra reports a net profit of Rs 1,528.1 crore for the quarter ended December 2022, marking an increase of 14.4 per cent on a year-on-year basis. The auto major's revenue grows 41.1 per cent to Rs 21,653.7 crore, according to a regulatory filing.
According to Zee Business research, M&M's quarterly net profit was estimated at Rs 1,850 crore and revenue at Rs 21,550 crore.
The automobile company's margin — a key measure of profitability for a business — improved by 125 basis points to 13 per cent for the three-month period. According to the research, the company's margin was estimated at 12.7 per cent.
Read more on Mahindra & Mahindra Q3 results
10 Feb 2023, 12:47 PM (IST)
Stock Market Tips LIVE | Sneha Seth recommends buying MCX, AB Fashion shares
Sneha Seth of Angel One shares two stock picks with Zee Business viewers:
- Buy MCX for a target of Rs 1,470 with a stop loss at Rs 1,400
- Buy AB Fashion for a target of Rs 268 with a stop loss at Rs 251
10 Feb 2023, 12:47 PM (IST)
Stock Market Tips LIVE | Sneha Seth recommends buying MCX, AB Fashion shares
Sneha Seth of Angel One shares two stock picks with Zee Business viewers:
- Buy MCX for a target of Rs 1,470 with a stop loss at Rs 1,400
- Buy AB Fashion for a target of Rs 268 with a stop loss at Rs 251
10 Feb 2023, 11:55 AM (IST)
Adani Ports, Adani Transmission, Adani Green, Adani Total Gas locked in lower circuit — here's the latest news implacting the group on Dalal Street
Six Adani group stocks are in the red, with four — Adani Ports, Adani Transmission, Adani Green and Adani Total Gas — locked in the lower five per cent circuit amid volatile trade on Dalal Street:
| Stock | Change (%) | CMP |
| ADANIPORTS | -5 | 164.3 |
| ADANITRANS | -5 | 1,186.2 |
| ADANIGREEN | -5 | 723.9 |
| ATGL | -5 | 1,258.3 |
| NDTV | -1.8 | 212.8 |
| ACC | -0.6 | 1,905.4 |
| ADANIENT | 0.8 | 1942 |
| AWL | 1.4 | 446.5 |
| ADANIPORTS | 1.7 | 592.2 |
| AMBUJACEM | 2.4 | 366.5 |
10 Feb 2023, 11:52 AM (IST)
Stock Market LIVE Update | Reliance, HCL Tech, Hindustan Unilever, ITC, Infosys top drags on Nifty50
On the other hand, gains in stocks such as SBI and HDFC Bank lent some support to the headline index.
Here's a look at the top movers and shakers in the Nifty50 basket:
10 Feb 2023, 11:42 AM (IST)
Q3 Results | Mahindra & Mahindra shares eke out a gain ahead of earnings today
M&M largely stay in the green today, quoting stronger by Rs 4.1 at Rs 1,376.7 apiece at this hour on BSE. Earlier in the day, the Mahindra & Mahindra stock gyrated in a range of more than Rs 17 — between Rs 1,369.8 and Rs 1,387 — during the session.
Here's what the stock's intraday chart looks like so far:
10 Feb 2023, 11:05 AM (IST)
LIC shares hold on firmly to the green after Q3 results
Life Insurance Corp shares are quoting stronger by Rs 8.3 or 1.4 per cent at Rs 621.6 apiece on BSE, having risen as much as 4.3 per cent to Rs 639.9 apiece earlier in the day.
After market hours on Thursday, LIC reported a net profit of Rs 8,334.2 crore for the quarter ended December 2022, as against a net profit of Rs 234.9 crore for the corresponding period a year ago.
Its net premium income came in at Rs 1,11,787.6 crore for the three-month period, up 14.5 per cent on a year-on-year basis, according to a regulatory filing.
10 Feb 2023, 11:00 AM (IST)
Stock Market Tips LIVE | Astha Jain recommends buying Action Construction Equipment shares
Astha Jain of Hem Securities shares a stock pick with Zee Business viewers. She suggests buying Action Construction Equipment at Rs 360 for targets of Rs 405 and Rs 420 with a stop loss at Rs 315.
The Action Construction Equipment shares have grown 18.7 per cent in value in the past one month, a period in which the Nifty50 benchmark has declined 0.3 per cent.
10 Feb 2023, 10:44 AM (IST)
Stock Market Tips LIVE | Buy Indraprastha Gas shares, says Sacchitanand Uttekar
Sacchitanand Uttekar of Tradebulls Securities suggests buying IGL shares for a target price of Rs 455 with a stop loss at Rs 428.
10 Feb 2023, 10:43 AM (IST)
Stock Market LIVE Today | Zomato shares recover much of day's losses
10 Feb 2023, 9:32 AM (IST)
Hindalco shares near day's low
Hindalco shares decline by as much as Rs 8.4 or 1.9 per cent at Rs 436 apiece on BSE.
JPMorgan has lowered its earnings per share (EPS) estimates for Hindalco by 22 per cent for the year ending March 2023. The brokerage has an 'overweight' call on Hindalco with a target price of Rs 525.
Here's what other brokerages make of the metal giant:
| Brokerage | Rating | Target price |
| CLSA | Buy | Reduced to Rs 550 from Rs 580 |
| Macquarie | Outperform | Rs 516 |
10 Feb 2023, 9:28 AM (IST)
Stock Market Update LIVE | Top four Nifty50 losers IT stocks: HCL Tech, Wipro, Infosys, Tech Mahindra drop 1-2%
On the other hand, Larsen & Toubro, Bajaj Finserv, Mahindra & Mahindra and ITC are holding on to the green as top gainers in the 30-scrip basket.
10 Feb 2023, 9:15 AM (IST)
Stock Market LIVE Update | Sensex drops over 200 pts, Nifty50 slides below 17,850
Both indices fall as much as 0.4 per cent within the first 15 minutes of trade. The Sensex loses 220.4 points to hit 60,585.9 on the downside and the Nifty50 slides to as low as 17,825.6, down 67.9 points from its previous close.
Here's how the headline gauges' intraday charts are building up so far:
Sensex
Nifty50
10 Feb 2023, 8:53 AM (IST)
Stock Market LIVE Update Today | Sensex down 99 pts in pre-open market, Nifty50 just below 17,850
The 30-scrip index finishes the pre-opening session at 60,706.8, down 99.4 points or 0.2 per cent from its previous close. The Nifty50 is down 45.9 points or 0.3 per cent at
17,847.6.
10 Feb 2023, 8:33 AM (IST)
Anil Singhvi shares his market strategy for today
Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,775-17,825 levels and a strong buy zone in the 17,650-17,750 band.
For the Nifty Bank, he sees support coming in at 41,100-41,275 levels, and a strong buy zone in the 40,600-40,750 area.
Check out how Anil Singhvi views the market today and what he recommends
10 Feb 2023, 8:13 AM (IST)
Stock Market Tips LIVE | Buy, sell or hold strategy on Bank of Baroda, Coal India, Voltas, HPCL, Sula Vineyards, 15 other stocks
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks you can track today.
- Ashish Chaturvedi suggests selling Voltas futures for a target of Rs 810 with a stop loss at Rs 830
- Arman Nahar recommends shorting Coal India futures for a target of Rs 210 with a stop loss at Rs 218.5
Check out the full list of their stock recommendations today
10 Feb 2023, 8:10 AM (IST)
US Stock Market Update | Dow Jones, S&P 500, Nasdaq Composite drop around 1% as spike in US bond yields dents earnings optimism
An auction of 30-year bonds went poorly and overshadowed strong earnings from corporate giants like Disney and PepsiCo. Yields on the US 30-year note rose after the Treasury Department saw weak demand for a $21-billion sale, the final sale of $96 billion in coupon-bearing supply this week.
- Dow Jones Industrial Average: down 0.7 per cent
- S&P 500: down 0.9 per cent
- Nasdaq Composite: down one per cent
10 Feb 2023, 8:02 AM (IST)
Sensex, Nifty50 extended gains to a second straight session on Thursday
The 30-scrip index finished the day with a gain of 142.4 points or 0.2 per cent at 60,806.2, having gyrated in a range of 390.8 points around the flatline — between 60,472.8 and 60,863.6 — during the session.
The Nifty50 settled at 17,893.5, up 21.8 points or 0.1 per cent from its previous close, after moving broadly within the 17,750-17,950 band in intraday trade.
Here's how the headline indices moved through the day:
Sensex
Nifty50
10 Feb 2023, 7:58 AM (IST)
Asian shares mostly in the red following weakness on Wall Street; Nikkei 225 bucks the trend
Equities in other Asian markets are largely quoting in the red following a weak handover from Wall Street, with MSCI's broadest index of Asia Pacific shares outside Japan trading 0.7 per cent lower at this hour.
Here's what some of the major headline indices in the region look like:
- China's Shanghai Composite: down 0.1 per cent
- Hong Kong's Hang Seng: down 0.9 per cent
- Singapore's Straits Times: down 0.4 per cent
- South Korea's KOSPI: down 0.6 per cent
- Japan's Nikkei 225: up 0.5 per cent
10 Feb 2023, 7:56 AM (IST)
Stock Market LIVE Update | SGX Nifty50 futures indicate a weak start ahead on Dalal Street today
Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty50 index — are down 95 points or 0.5 per cent at 17,835.5, having declined as much as 111 points earlier in the day.
10 Feb 2023, 7:55 AM (IST)
Stock Market LIVE Today | Good morning! Welcome to Zeebiz.com's stock market blog
Follow this space for minute-by-minute market action on February 10, LIVE market commentary and analysis, financial results and what to make of them, expert views, stock investing as well trading recommendations, and much more.
Happy investing, and happy trading!
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