Share Market HIGHLIGHTS: Sensex ends 434 pts lower, Nifty slides to 22,055 as market halts six-day winning run; BPCL, NTPC, CIL fall up to 4%
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex finished a volatile session about half a per cent lower on Wednesday (February 21), snapping six consecutive of gains that took the 50-scrip index to a series of highs. Catch all the highlights of the February 21 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex closed about half a per cent lower on Wednesday, February 21, snapping a six-day winning streak, amid selling pressure in IT and financial shares though buying in metal counters lent some support.
The 50-scrip headline index registered a fresh all-time high in intraday trade, at 22,249.4, before succumbing to the negative zone.
Catch all the highlights of the February 21 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
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Share Market Today: Sensex ends 434 pts lower, Nifty slides to 22,055 as market snaps six-day winning run
Nifty Today LIVE | Infy, HDFC Bank, L&T, RIL among top drags
Here's a look at the heatmap in the 50-scrip universe by weight:
Source: NSE
Share Market Today LIVE | Nifty slips below 22,050, Sensex drops over 500 pts
Share Market Today LIVE: Sensex slumps over 550 pts, Nifty slides below 22,050 dragged by IT, financial stocks
'-573.67 -0.7852318861607448 72,483.73 22,013.35 -183.6 -0.8271406657220924
Take a look at the top movers in the 50-scrip basket at this hour, by weight:
Image: Niftyindices.com
Share Market Today LIVE | Nifty Bank falls 300 pts from the day's high
Source: NSE
Share Market Today LIVE: Buy Tejas Networks shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying Tejas Networks (TEJASNET) shares for a target of Rs 800 with a stop loss at Rs 735.
Sethi's target implies an upside of 8.7 per cent in the stock from its previous close.
Share Market Today LIVE: US rate cut timing still uncertain, says MOFSL's Gaurang Somaiya
When and what should lead to a rate cut is now a question that remains in ambiguity as the US jobs market remains robust and inflation steady, and as optimism prevails in the US economy, says Gaurang Somaiya of Motilal Oswal Financial Services.
"Since the start of the year, market participants were expecting that the Fed should look for a rate cut and that would be soon as March despite the US economy showing any signs of resilience. The Fed generally believes in preparing the market about their further course of action and that is the guiding path for investors to take a view on rates. US 10-year yields have witnessed a lot of swings in the market and have been moving (they have moved from 3.8 per cent to 4.3 per cent in the last couple of months), suggesting suggesting that investors remain cautious on aggressive rate cut announcements by the Fed. But let’s see how the (US) jobs market has evolved and how the market is pricing in rate cuts for this year," says Somaiya.
"We expect that rate cuts could begin as early as June with inflation concerns still looming around... Previously, the probability of a rate cut used to be more than 100 bps but now investors are discounting rate cuts below 100 bps," the analyst adds.
Share Market Today LIVE: Vibhor Steel's high valuation could pose potential risks in long term, says Swastika Investmart's Shivani Nyati
Many analysts are skeptical about Vibhor Steel Tubes shares after the company's stellar debut in the secondary market on Tuesday following a bumper IPO.
"Vibhor Steel Tubes defied even the most optimistic predictions on the listing day. Its unprecedented performance vastly exceeds the previously anticipated surge, fuelled by the company's strong fundamentals and the overwhelming investor response," says Shivani Nyati of Swastika Investmart.
"Boasting a diverse product portfolio, an established distribution network, and consistent financial performance, Vibhor Steel Tubes possesses a solid foundation for growth. Despite the strong listing, the high valuation could pose potential risks in the long term. Thus, this listing is the right time for investors to exit their holdings; however, those who still want to hold are suggested to keep a stop loss at around Rs 380," Nyati adds.
Share Market Today LIVE: Nifty slips below 22,150, Sensex falls over 250 pts; IT shares decline
Share Market Today LIVE | Should you buy Grasim, Bajaj Finance, Tata Consumers Products, Kfin Tech shares today? Here is what brokerages recommend
Brokerages have few stocks on their radar. Here's what two brokerages, Jefferies and Nomura make of stocks, Grasim Industries, Bajaj Finance, Tata Consumer Products and Kfin Kfin Technologies:
- Grasim share price target: Jefferies has maintained a 'buy' call on the Grasim Industries stock with a target of Rs 2,291.
- Bajaj Finance share price target: Nomura has maintained a 'buy' call on the Bajaj Finance stock with a target of Rs 8,800.
- Tata Consumer share price target: Nomura has maintained a 'buy' call on the Tata Consumer Products stock with a target of Rs 1,350. Read more
Share Market Today LIVE: Sensex flat near 73,050; selling pressure in Infosys, HDFC Bank, L&T offsets buying interest in ICICI Bank, SBI, Tata Steel
Take a look at the top movers in the 30-scrip basket at this hour:
Image: BSEIndia.com
Juniper Hotels IPO | Check out IPO review, subscription status, price band, other key details
Luxury hotel development and ownership company Juniper Hotels launched an initial public offer (IPO) on February 21. The IPO opened for subscription for three trading days, till February 23 from 10 am to 5 pm. Juniper Hotels IPO is a mainboard issue of Rs 1,800 crore comprising fresh issuance of five crore shares.
Juniper Hotels IPO subscription status
On Wednesday, Juniper Hotels's share sale received bids for 17,21,920 shares against 2,89,47,367 shares on offer. Overall, the public issue has been subscribed 6 per cent so far on Day 1 of the bidding process. Read more
Category Subscription (No. of times the equity reserved) Qualified institutional buyers Nil Non-institutional investors 0.02 Retail investors 0.3 Overall 0.06 Source: Exchange data Juniper Hotels IPO review: Here's what Anil Singhvi suggests
According to Zee Business Managing Editor Anil Singhvi, high-risk investors should subscribe to the IPO for the long term.
Here are the positives and negatives of the Juniper Hotel IPO:
Positives:
- Experienced promoters
- Strong brand of Hyatt with its equity investment
- IPO to retire 1500 Cr debt to save 170 Cr interest cost
- Strong expansion plans
- Another listed company will get merged and it will result in a bigger portfolio. Read more on Juniper Hotels IPO review by Anil Singhvi
Share Market Today LIVE | KFin Technologies stock jumps over 7%, Jefferies maintains 'buy'
Shares of KFin Technologies Ltd, a SaaS-based digital services provider, jump 7.6 per cent to Rs 688.4 on BSE after global brokerage firm Jefferies maintained a 'buy' call on the stock and raised the target by Rs 60 each to Rs 760 from Rs 700. Read more
Share Market Today LIVE | Avendus says OMC stocks’ gains of up to 100% in four months not sustainable, downgrades IOC to ‘sell’
Hedge fund Avendus Capital maintains that amid the Red Sea crisis, diesel as well as gross refining margins have seen a surge which in turn has fuelled a rally in the stock price of oil marketing companies.
The crisis has led to a geo-political rift that is unlikely to end soon. The attack by the Houthi militants on commerical vehicles has threatened key maritime route that is significant for global container traffic as well as over $1 trillion in annual merchandise.
Stocks from the OMC pack, amid this chaos, have gain a significant over 100 per cent in a short span of just 4 months. This sharp increase in stock price is viewed as unsustainable by Avendus Capital as it is of the view that gradually the supply of diesel shall ease and there shall be pressure on the gross marketing margin. Read more
Share Market Today LIVE | Hindalco's US-based arm submits draft papers to US regulator for IPO; stock rises over 4%
Shares of India's biggest aluminium manufacturer, Hindalco, soar over 4 per cent, snapping a two-day losing streak on BSE. The uptrend in the stock comes after the company's US-based subsidiary Novelis Inc. submitted a draft registration statement with the Securities and Exchange Commission (“SEC”) proposing an initial public offering (IPO).
Shares of Hindalco trade 1.87 per cent or Rs 9.55, higher at Rs 521.35 apiece on BSE.
"Novelis Inc., a leading sustainable aluminum solutions provider and the world leader in aluminum rolling and recycling, today announced that it has confidentially submitted a draft registration statement on Form F-1 with the Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its common shares," the regulatory filing read. Read more
Traders' Diary: Buy, sell or hold strategy on HDFC Bank, ICICI Bank, Hero MotoCorp, L&T, Wipro, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Wednesday, February 21. Check out the complete list of stocks on analysts Kushal Gupta and Varun Dubey's radar.
Here's the complete list of investment and trading ideas for the day:
Ashish Chaturvedi
- Buy Nitin Spinners shares in the cash segment for a target price of 388 with a stop loss at Rs 67
- Buy ICICI Bank futures for a target of Rs 1,080 with a stop loss at Rs 1,040
- Buy the Rs 530 call option of Wipro at Rs 13 for a target of Rs 30 with a stop loss at Rs 7
- Technical pick: Buy HDFC Bank shares for a target price of Rs 1,495 with a stop loss at Rs 1,440
- Fundamental pick: Buy Indian Hotels shares for a target of Rs 660 with a perspective of 12 months
- Investment idea: Buy Larsen and Toubro (L&T) shares for a one-year target of Rs 4,100. Read more
Share Market Today LIVE | Multibagger Union Bank shares gain nearly 5% after PSU lender launches QIP
Union Bank shares trade in the green after the public-run lender announced the launch of the Qualified Insitutional Placement (QIP) for mopping up to Rs 3000 crore. Shares of the company climb as much as 4.89 per cent to the day's high of Rs 148 on BSE.
The floor price for the placement is pegged at Rs 142.78 per share, i.e., a premium of 1.19 per cent to the previous closing price. The issue for the QIP was launched on February 20."We wish to inform you that a meeting of the Committee of Directors for Raising Capital Funds is scheduled to be held on February 23, 2024, to, inter alia, consider and approve the issue price, including a discount, if any thereto as permitted under the SEBI ICDR Regulations, for the Equity Shares to be allotted to Qualified Institutional Buyers, pursuant to the issue," said the lender's filing with the exchanges. Read more
Stocks to Buy | ITC, Voltas, Britannia, Bajaj Finance among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Ambareesh Baliga, Rakesh Bansal, Kunal Saraogi, Sumeet Bagadia and Jay Thakkar share their top stock recommendations in this special segment, Pick of the Day.
On the top analysts' 'buy' list are stocks such as ITC, Britannia Industries, Deepak Nitrite, Bajaj Finance and Voltas. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 22,050-22,125 levels and a strong buy zone at 21,925-22,025 levels on Wednesday, February 21.
For the Nifty Bank, he expects support to come in at 46,725-46,900 levels and a strong buy zone at 46,500-46,600 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Nifty above 22,200, Sensex edges higher in opening deals
Nifty 50
Source: NSESensex
Source: BSE
Share Market Today LIVE | Nifty opens at record high, Sensex flat
Share Market Today LIVE | Nifty 50 set to open at new record high
Shares are set to open marginally higher on Wednesday, with the benchmark Nifty 50 reaching fresh all-time highs, aided by sustained domestic inflows, while Asian peers remain muted amid fading hopes of a US rate cut.
Currency Update | Rupee rises 6 paise to 82.91 against US dollar in early trade
Stocks to Watch | Wipro, DLF, Ashok Leyland, other stocks
Here are some stocks that will be in the spotlight on Wednesday, February 21:
Results on February 21: Foseco India, Rain Industries, and Sanofi India will announce their October to December quarter numbers.
Wipro: The IT firm and IBM expanded their partnership and launched Wipro Enterprise Artificial Intelligence (AI)-Ready Platform, a new service that will allow clients to create their enterprise-level, fully integrated, and customised AI environments.
DLF: DLF Home Developers Limited (‘DHDL’), a subsidiary of the company, entered into a settlement agreement with Axis Trustee Services Limited for the acquisition of land parcels, measuring 28.49 acres in Gurugram, Haryana. The total consideration of the deal stands at Rs 1,241 crore.
Ashok Leyland: The Indian flagship of the Hinduja Group will set up a new integrated commercial vehicle plant focused on green mobility in Uttar Pradesh. Read more
IPO Update | Juniper Hotels IPO to open for subscription on Wednesday; check out price band, lot size, other key details
Luxury hotel development and ownership company Juniper Hotels is set to launch an initial public offer (IPO) on February 21. The IPO will be open for subscription for three trading days, till February 23 from 10 am to 5 pm.
Juniper Hotels IPO is a mainboard issue of Rs 1,800 crore comprising fresh issuance of five crore shares.
Here are some of the key details to know about the Juniper Hotels IPO:
Juniper Hotels IPO allotment date
The basis of the allotment of shares under the IPO of Juniper Hotels is set to be finalised tentatively on February 26.
Juniper Hotels IPO listing date
Juniper Hotels IPO shares are likely to be listed on stock exchanges BSE and NSE tentatively on February 28.
Juniper Hotels IPO price band
The price band for the IPO is set at Rs 342-360 per share. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a positive start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 47.18 points or 0.22 per cent at 22,265 ahead of the opening bell on Dalal Street.
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