Stock Market HIGHLIGHTS: Sensex ends 910 pts higher, Nifty50 surpasses 17,850 led by financial, IT shares; Titan shares jump 7% on earnings boost
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 overcame initial choppiness to clock strong gains in the second half of a volatile day on Friday, the last session of a week that saw the the unveiling of a pragmatic Union Budget 2023 by Finance Minister Nirmala Sitharaman. Gains across most sectors pushed the headline indices higher, with financial, IT, consumer and auto stocks being the top boosts.
Globally, equity markets were a mixed bag as investors weighed a 50-basis-point hike from the ECB against a smaller hike in the US along with a rather dovish tone of the Fed.
Here are five things to know about the February 3 session on Dalal Street:
1) The Sensex finished 909.6 points or 1.5 per cent higher for the day at 60,841.9, and the Nifty50 settled at 17,854.1, up 243.7 points or 1.4 per cent from its previous close.
2) Thirty six stocks in the Nifty50 basket ended higher. Titan, Adani Ports, the Bajaj finance, HDFC Bank, SBI, HDFC and Eicher Motors were the top gainers, finishing between 2.9 per cent and 6.5 per cent higher.
3) On the other hand, Divi's was the top laggard, falling 12 per cent after its earnings announcement. Adani Enterprises, Bharat Petroleum, Tata Consumer, Hindalco and HDFC Life were among other blue-chip losers, declining around 1-2 per cent.
4) Among heavyweights, the HDFC twins, Bajaj Finance and Titan were the biggest boosts for both headline indices.
5) Overall market breadth favoured the bears, with an advance-decline ratio of 1:2 as 1,237 stocks rose and 2,310 fell at the close on BSE.
6) The Nifty PSU Bank was the top gainer among NSE's sectoral gauges, up 3.1 per cent, followed by the Nifty Financial Services and Nifty Bank gauges, up 2.4 per cent and two per cent respectively. On the flipside, the healthcare and pharma indices were the top losers, down one per cent each.
7) The rupee strengthened by 34 paise or 0.4 per cent to end at 81.83 against the US dollar.
8) Analysts awaited more of corporate earnings from India Inc for domestic cues.
9) European markets began the day in the red, following a mixed session across Asia, amid weakness in tech stocks on concerns about global economic demand and the impact of high interest rates. The pan-European Stoxx 600 index was down 0.3 per cent at the last count.
10) S&P 500 futures were down 0.6 per cent, suggesting a gap-down opening ahead on Wall Street.
Catch highlights of market action, commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other Dalal Street experts, financial results and what to make of them, and stock investing and trading ideas — and much more — here on Zeebiz.com's blog:
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 overcame initial choppiness to clock strong gains in the second half of a volatile day on Friday, the last session of a week that saw the the unveiling of a pragmatic Union Budget 2023 by Finance Minister Nirmala Sitharaman. Gains across most sectors pushed the headline indices higher, with financial, IT, consumer and auto stocks being the top boosts.
Globally, equity markets were a mixed bag as investors weighed a 50-basis-point hike from the ECB against a smaller hike in the US along with a rather dovish tone of the Fed.
Here are five things to know about the February 3 session on Dalal Street:
1) The Sensex finished 909.6 points or 1.5 per cent higher for the day at 60,841.9, and the Nifty50 settled at 17,854.1, up 243.7 points or 1.4 per cent from its previous close.
Catch highlights of market action, commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other Dalal Street experts, financial results and what to make of them, and stock investing and trading ideas — and much more — here on Zeebiz.com's blog:
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SBI Q3 Results: Net profit jumps 68.5% to record Rs 14,205 crore, beats analysts' estimates
State Bank of India (SBI) — the country's largest lender by assets — reports a year-on-year 68.5 per cent jump in net profit to a record Rs 14,205.3 crore for the quarter ended December 2022.
The PSU banking major's net interest income (NII) — or the difference between interest earned and interest paid — increases 24.1 per cent to Rs 38,068.6 crore compared with the year-ago period, according to a regulatory filing.
Both topline and bottomline far exceeded analysts' expectations.
According to Zee Business research, SBI's quarterly net profit was estimated at Rs 13,400 crore and NII at Rs 37,300 crore.
SBI shares ended 3.1 per cent higher ahead of the earnings announcement.
Closing Bell | Sensex ends 910 pts higher, Nifty50 reclaims 17,850
The 30-scrip index finishes the day 909.6 points or 1.5 per cent higher at 60,841.9 and the Nifty50 settles at 17,854.1, up 243.7 points or 1.4 per cent from its previous close.
Here's how Sensex moved through the day:
Nifty50
At day's low, Adani Enterprises shares have lost 43% of value in three days
Adani group stocks a mixed bag; Adani Ports jumps 8%, ACC 4%; Adani Transmission slumps 10%
| Stock | Change (%) | CMP |
| Adani Trans | -10 | 1,401.6 |
| Adani Green | -10 | 934.3 |
| Adani Power | -5 | 192.1 |
| Adani Total | -5 | 1,626 |
| Adani Wilmar | -5 | 400.4 |
| Adani Enterprises | 0.5 | 1,572.8 |
| Ambuja | 3.2 | 363.9 |
| ACC | 4.4 | 1,926.5 |
| Adani Ports | 7.6 | 497.2 |
Buy Cyient, target Rs 945: Ruchit Jain
Ruchit Jain of 5Paisa shares a buy call on Zee Business:
Buy Cyient for targets of Rs 945 and Rs 958 with a stop loss at Rs 885.
The IT stock has grown almost 10 per cent in value in the past one month, sharply outperforming a 2.2 per cent decline the Nifty50 headline index.
Bank of Baroda zooms as investors cheer PSU lender's Q3 results
Sensex soars over 850 pts, Nifty50 within six pts of 17,850 boosted by financial, IT shares
The Sensex surges as much as 879.3 points or 1.5 per cent to touch 60,811.5 on the upside.
Financial, IT stocks lead rally on Dalal Street; Sensex surges over 800 pts
The HDFC twins, ajaj Finance, Infosys and Titan are the biggest contributors to the gain in Nifty50. Here's what the heatmap looks like about 45 minutes from the closing bell:
This is how much ITC makes from its cigarettes and hotels businesses
Buy Reliance, Titan: Sanjiv Bhasin
Sanjiv Bhasin of IIFL Securities shares two blue-chip stock picks: Titan and Reliance .
He has a target of Rs 2,500 for his 'buy' call on Titan with a stop loss at Rs 2,360.
For Reliance Industries, Bhasin suggests a target of Rs 2,400-2,420 and a stop loss at Rs 2,275.
Read more on what brings these stocks to Sanjiv Bhasin's radar
F&O Trade Idea | Chandan Taparia recommends buying Nifty50 17,700 call option near Rs 110
Chandan Taparia of Motilal Oswal Financial Services has a target price of Rs 185 for the option and suggests a stop loss at Rs 70.
Among stock derivatives, Taparia suggests buying the Rs 3,000 call of Siemens at Rs 90 for a target of Rs 140 with a stop loss at Rs 65.
Stock Market Update | Paytm shares fall almost 3% ahead of Q3 results
Q3 Results Today | ITC, SBI, IndiGo, Divi's, Paytm to report numbers today
Here's how some of these stocks are performing at this hour:
ITC
The stock of the cigarettes-to-hotels conglomerate retreats by as much as Rs 10.2 from its strongest level of the day to Rs 372 apiece on BSE, taking its loss to 3.3 per cent from a record high touched the previous day.
SBI
SBI struggles just above the flatline amid choppy trade. Earlier in the day, the stock of the country's largest lender by assets rose by as much as Rs 13.1 or 2.5 per cent to Rs 541.1 apiece on BSE.
Paytm
Stock Market Update | HDFC shares firm in the green; HSBC maintains 'buy' after Q3 results
HDFC shares are trading stronger by Rs 44.7 or 1.7 per cent on the day at Rs 2,657.5 apiece on BSE, having risen to as high as Rs 2,664.8 apiece earlier in the day to come within Rs 200 points of a 52-week high hit in April 2022.
During market hours on Thursday, the mortgage lender reported a 13.2 per cent year-on-year increase in net profit to Rs 3,690 crore for the quarter ended December 2022, and growth of 13 per cent in net interest income to Rs 4,840 crore.
Both the topline and bottomline were largely in line with analysts' estimates.
According to Zee Business research, HDFC's quarterly net profit was estimated at Rs 3,680 crore and NII at Rs 4,890 crore.
HSBC maintained a 'buy' call on HDFC but reduced its target by Rs 140 to Rs 2,850.
