Share Market HIGHLIGHTS: Nifty50 crosses 22,197 to fresh record closing high, Sensex jumps 535 pts led by IT, auto stocks; HCL Tech, ITC jump 3%

Share Market Today: Midcap, smallcap stocks participate in intraday market recovery; Nifty Midcap 100, Nifty Smallcap 100 rise up to 1%

The Nifty 500, NSE's broadest gauge, finishes the day 0.8 per cent stronger. 

Take a look at the top gainers in the BSE 500 universe, a basket that settles with 309 gainers:

Image: BSEIndia.com

Thank you! That's all today on Zeebiz.com's blog on Dalal Street

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Share Market Today: Coal India, Bajaj Auto, Eicher Motors, ITC, HCL Tech rise most among 35 gainers in Nifty50 basket; HDFC Life, JSW Steel, Divi's, Bharti Airtel, Tata Consumer Products top losers

Top Nifty50 gainers

Top Nifty50 losers

Share Market Today: Nifty IT, Nifty Auto, Nifty Metal top gainers among NSE sectoral gainers; Nifty Bank top loser, down 0.2%

Share Market Today: Nifty at record closing high of 22,217, Sensex up 535 pts

NIFTY AT ALL-TIME HIGH | Nifty scales fresh peak of 22,251.35

Share Market Today LIVE | Sensex rebounds 800 pts from day's low, Nifty at 22,150 led by IT shares

Share Market Tips LIVE | Buy Texmaco Rail, Ashoka Buildcon shares, says Vikas Sethi 

Vikas Sethi of Sethi Finmart recommends buying Texmaco Rail shares for a target of Rs 200 with a stop loss at Rs 175. Besides, recommends buying Ashoka Buildcon shares for a target of Rs 190 with a stop loss at Rs 170.

Share Market Today LIVE | Metal stocks shine in weak market; are there good long-term opportunities for investors?

The metal space is an outlier in an overall weak market  boosted by strong gains in Hindalco, Tata Steel and NMDC shares. The Nifty Metal index gain as much as 1.0 per cent in intraday trade, rising for a second straight session to turn neutral for the week after finishing the previous week 1.5 per cent lower amid softening iron ore prices.

While Hindustan Copper shares are up nearly five per cent, stocks such as NMDC, Nalco, JSL, Hindalco and Tata Steel trade about 1-2 per cent higher, shrugging off persistent weakness in Chinese iron ore prices.

Chinese iron ore prices continued to decline to as low as $122 per tonne on Thursday, already down about two per cent on the week, according to Prabhudas  Lilladher. Read more 

Share Market Today LIVE | After Avendus, CLSA downgrades OMC stocks; check out the biggest concern

Oil marketing companies (OMCs) have fallen out of favour, and how! A day after Avendus downgraded the stocks, citing the steep rally seen in OMCs in a four-month time period as not sustainable, CLSA has also turned bearish on the counters. One of the key reasons behind the downgrade is the companies' marketing margins, which are much higher than their historical levels. The brokerage also noted that OMCs' refining margin is also nearing record. 

CLSA notes that the margins' sustainability is a concern. It has assigned a 'sell' rating to OMCs. The global brokerage, as per Zee Business Research, notes that a rise of 7 per cent in the prices of crude oil may spark concerns about the OMCs' marketing margins. Further, going ahead, capacity addition in the Middle East and the possibility that the government may increase fuel taxes after the Lok Sabha elections will put pressure on the margins. Read more

Share Market Today LIVE | South Indian Bank soars over 7% after lender's board approves rights issue

South Indian Bank shares rise over seven per cent on BSE after the lender's board approved the issuance of fully paid-up equity shares to the tune of Rs 1151 crore. South Indian Bank shares are trading up by 6.91 per cent, or Rs 2.25, at Rs 34.79 on BSE.  

Informing about the board of directors' approval of the rights issue, the bank said that the approval includes-   

a. The total number of rights equity shares and rights issue size: 5,231,85,254 rights equity shares each on fully--paid up basis for an amount aggregating up to Rs 1151.01 crores (assuming full subscription with respect to rights equity shares).

b. Rights Issue Price: Rs 22 per rights equity share fully paid-up (including a premium of Rs 21 per rights equity share) on application.

c. Record date: Tuesday, February 27,2024

d. Rights issue period:

1. Rights issue opening date: Wednesday, March 6, 2024; and
2. Rights issue closing date: Wednesday, March 20, 2024. Read more 

Share Market Today LIVE: Hold PNB Housing, Nalco shares, says Vikas Salunkhe 

Vikas Salunkhe of Nirmal Bang Securities shares two 'hold' recommendations with Zee Business viewers: 

• Hold PNB Housing Finance shares for targets of Rs 900 and Rs 950 with a stop loss at Rs 670
• Hold Nalco shares for a target of Rs 165 with a stop loss at Rs 156

Here's how the stocks have moved in the past year: 

PNB Housing Finance, up 48.5%

Nalco, up 96.6%

Image: BSEIndia.com

Share Market Today LIVE: Buy Nifty 21,950 put at Rs 35, says Nitin Murarka 

Nitin Murarka of SMC Global recommends buying the 21,950 Nifty50 put option at Rs 35 for targets of Rs 60 and Rs 75 with a strict stop loss at Rs 10. 

Share Market Today LIVE: Buy Indian Hotels, Cummins India shares, says Chandan Taparia

Chandan Taparia of Motilal Oswal Financial Services shares two recommendations with Zee Business viewers: 

• Buy Indian Hotels shares for a target of Rs 588 with a stop loss at Rs 560
• Buy Cummins India shares for a target of Rs 2,800 with a stop loss at Rs 2,600

Share Market Today LIVE: Nifty Bank down 1%, worst hit among NSE sectoral gauges

Weakness in HDFC Bank, IndusInd Bank, SBI and Kotak Mahindra Bank is putting pressure on the banking index, though strength in Axis Bank is keeping the downside in check. 

Image: Niftyindices.com

Share Market Today LIVE: HDFC Bank, Bharti Airtel, SBI, Kotak Mahindra Bank pull market lower

HDFC Bank, Bharti Airtel, SBI, Kotak Mahindra Bank and HUL are the top contributors to the fall in both headline indices at this hour. 

Image: Niftyindices.com

Share Market Today LIVE | Nifty Bank 430 pts off the day's high

Source: NSE

Share Market Today LIVE | BHEL, MTAR Technologies rise; L&T dips after Centre amends space sector FDI policy

BHEL, Mishra Dhatu Nigam, and MTAR Technologies shares are trading higher, while Larsen & Toubro stock is down on BSE after the central government amended the FDI policy in the space sector. The Cabinet on Wednesday approved up to 49 per cent of foreign direct investment (FDI) in spacecraft launch vehicles. In the satellite manufacturing and operation sector, 74 per cent of FDI has been approved. 

Larsen & Toubro

Larsen and Toubro is trading lower by 0.19 per cent, or Rs 6.20, at Rs 3290.15 on BSE.

BHEL

The stock of the PSU is trading up by 1.69 per cent, or Rs 3.75, at Rs 225.75 on BSE. Read more 

Share Market Today LIVE ​ | Asian Paints, Kansai Nerolac, Berger under pressure as Grasim set to inaugurate first paint plant

Grasim Industries shares registered a record high before succumbing to selling pressure while a bunch of paint companies’ stocks fell on Thursday as the Aditya Birla group company is all set to inaugurate its first paint plant in the country, located in Panipat, Haryana. The stock of Grasim Industries, which first announced a strategic foray into paints in 2021 and unveiled the name of its paints brand Birla Opus last year, gained by as much as Rs 52.6, or 2.4 per cent, to an all-time high of Rs 2,245 apiece on BSE before sliding into red territory. 

Grasim Industries shares are down 0.9 per cent while stocks such as Asian Paints, Berger Paints, Kansai Nerolac, Akzo Nobel and Indigo Paints are down about 1-2 per cent. Shalimar Paints and Sirca Paints are up about one per cent each. 

The strategic foray into the paints business is set to bring Aditya Birla group flagship Grasim Industries in direct competition with Asian Paints and Berger Paints.Grasim Industries’ aggressive entry into the paints business is set to intensify competition in an industry dominated by players such as Asian Paints and Berger Paints. Read more 

Share Market Today LIVE | Shree Renuka Sugars, Balrampur Chini in focus as cabinet approves increasing the FRP of sugarcane

Sugar stocks such as Shree Renuka Sugars, Balrampur Chini, EID Parry, Magadh Sugar, Mawana Sugars, Avadh Sugar, Rajshree Sugars, DCM Shriram, and Bannari Aman are in focus on as the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi approved the increase in the fair and remunerative price (FRP) of sugarcane.

The fair and remunerative price is the minimum price that sugar mills must pay farmers. The FRP of sugarcane for sugar season 2024–25 is fixed at Rs 340/quintal at a sugar recovery rate of 10.25 per cent.

This is the historic price of sugarcane, which is about 8 per cent higher than the FRP of sugarcane for the current season (2023–24). Read more 

Share Market Today LIVE | ABB shares scale fresh peak for second session; should you buy the stock at current levels?

ABB India shares surge to an all-time high for the second consecutive session after the large-cap technology firm announced its financial results and declared a dividend of Rs 23.8 per share on Tuesday.

The ABB India stock rise as much as 5.4 per cent to register a fresh record high of Rs 5,259.9 apiece on the BSE, rising for the third session. 

ABB India share price target: Can you still ride the breakneck surge in the counter?

Being upbeat on the order outlook, Nomura has double-upgraded ABB India to buy from neutral. The brokerage has raised the target to Rs 5,740 from Rs 3,575 earlier, given the rising convergence between automation, electrification, and premiumisation.

A margin trajectory of 14.0–14.5 per cent appears sustainable. The counter is trading at nearly 53x CY25F EPS, the brokerage said. Read more 

Image: Official website/ Representational image

Share Market Today LIVE | Eureka Forbes block deal: Company's shares jump over 6% as 9.3% equity changes hands

Shares of Eureka Forbes, a household name in water filters, surge as much as 6.66 per cent to Rs 544 on BSE, as, according to a Zee Business report, 9.3 per cent equity changed hands in a block deal in the pre-opening session.
 
For the Rs 1,150 crore block deal, the floor price was pegged at Rs 494.75 apiece as against the stock's previous day's closing price of Rs 510. The promoter entity Lunolux, as per reports, was planning to divest its 12 per cent stake in the company via a block deal at a nearly 3 per cent discount to the current market price. Read more

Share Market Today LIVE | Citi maintains 'buy' on Maruti stock, sees 24% upside 

Citi is positive on the outlook for Maruti Suzuki after the blip in December 2023. The brokerage expects the company's volume to move northward. So, maintaining its optimistic stance, the global brokerage maintained a buy on the counter for a target of Rs 14,200, signalling an up to 24 per cent upside in the heavyweight stock.
 
Amid the fresh buy stance, shares of the company trade higher by 0.28 per cent at Rs 11,502.1 on BSE.
 
The brokerage has begun a 90-day positive catalyst watch on the passenger vehicle major. Furthermore, the brokerage sees a better Q4 on the back of higher operating leverage and lower discounts. Moreover, the brokerage said Maruti Suzuki is its top bet. Read more 

Share Market Today LIVE | Nifty, Sensex turn sluggish in early deals

Nifty 50

Source: NSE

Sensex

Source: BSE

Currency Update | Rupee rises 2 paise to 82.94 against US dollar in early trade

Share Market Today LIVE | Should you buy Maruti Suzuki, M&M, Paytm, Asian Paints, other stocks today? Here is what brokerages recommend

As Dalal Street enters the February 22 session, brokerages have several stocks on their radar. Here's what Nomura, Goldman Sachs, Jefferies, Citi and CLSA make of stocks such as Mahindra & Mahindra (M&M), Maruti Suzuki India, Asian Paints, Paytm, Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Indian Oil Corporation Ltd (IOCL):

ABB share price target:

Nomura has a 'buy' call on the ABB India stock with a target of Rs 5,740.

Jefferies has maintained a 'buy' call on ABB India shares with a target of Rs 6,115

Asian Paints share price target:

Jefferies has maintained an 'underperform' rating on the Asian Paints stock with a target of Rs 2,500.

Paytm share price target:

Goldman Sachs has maintained a 'neutral' rating on the One 97 Communications (Paytm) stock with a target of Rs 450.

Maruti Suzuki share price target:

Citi has maintained a 'buy' call on the Maruti Suzuki India stock with a target of Rs 14,200. Read more

Stocks to Buy: TCS, Bank of Baroda, BHEL, Marico among analysts' top picks

In conversation with Zee Business, market experts Vikas Setih, Rakesh Bansal, Kunal Saraogi and Sumeet Bagadia share their top stock recommendations in this special segment, Pick of the Day.

On the top analysts' 'buy' list are stocks such as Tata Consultancy Services (TCS), NBCC, Bharat Heavy Electricals Ltd (BHEL), Bank of Baroda (BoB), UTI AMC, Marico and Raymond. Read more 

Stocks to Watch | ICICI Bank, JK Cement, Axis Bank, LTIMindtree, other stocks

Here are some stocks that will be in focus on Thursday, February 22:

NBCC (India): The company received approval from the Greater Noida Authority for the development of existing projects of Amrapali valuing approximately Rs 10,000 crore.

LTIMindtree: LTIMindtree signed a Memorandum of Understanding (MoU) with Eurolife FFH to establish Gen Al and Digital Hub in Athens and dedicated facilities in Poland, Europe, and Mumbai, India. 

JK Cement: The company's board agreed to modify acquisition terms with Toshali Cements. JK Cement will pay Rs 10.75 crore to the existing promoters of Toshali Cements for the acquisition of 100 per cent equity. 

ICICI Bank: Moody's affirmed ICICI Bank's 'Baa3' deposit ratings, keeping the outlook stable.

Axis Bank: Moody's affirmed Axis Bank's 'Baa3' deposit ratings and kept the outlook stable. Read more 

Good morning! Welcome to Zeebiz.com's blog on the stock market today

Follow this space to catch minute-by-minute market action, the views of Zee Business Managing Editor Anil Singhvi  and other experts, investment ideas, stock picks, brokerage calls and much more through the day. 

Happy trading, and happy investing!

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 68.35 points or 0.31 per cent at 22,138.5 ahead of the opening bell on Dalal Street.