Share Market HIGHLIGHTS: Nifty reclaims 21,850, Sensex soars 440 pts; IT stocks lead gains
Share Market HIGHLIGHTS: Domestic equity indices Sensex and Nifty on Friday, February 2 settled higher after hitting an all-time high during the day amid heavy buying in information technology (IT), metal, bank, and oil & gas counters. Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity indices Sensex and Nifty on Friday, February 2 settled higher after hitting an all-time high during the day amid heavy buying in information technology (IT), metal, bank, and oil & gas counters. At close, both indices settled over 0.60 per cent higher, S&P BSE Sensex rose 440.33 points at 72,085.63 and NSE Nifty soared 156.35 points at 21,853.8.
Among the Nifty 50 stocks, 38 stocks advanced with BPCL, NTPC, Power Grid, Adani Ports, and ONGC being the top gainers rising between 3.28 per cent to 9.55 per cent. Conversely, Eicher Motors, Axis Bank, HDFC Bank, HDFC Life, and HUL were the top laggards slipping between 0.87 per cent to 2.5 per cent.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
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CLOSING BELL | Nifty reclaims 21,850, Sensex soars 440 pts; BPCL up 9.5%
Share Market Today LIVE | Infosys, Bajaj Auto, BHEL, other stocks hit 52-week highs
As many as 77 stocks in the BSE 500 basket — the broadest index on the bourse — reached the milestone.
Stock LTP 52 Weeks High Previous 52 Weeks High(Price/Date) All Time High(Price/Date) ABBOTINDIA 27,947.20 28,300.00 26,350.00 (15 Jan 2024) 28,300.00 (02 Feb 2024) ADANIPORTS 1,263.20 1,287.00 1,239.90 (01 Feb 2024) 1,324.00 (02 Jan 2008) APTUS 370.1 382 380.55 (01 Feb 2024) 394.95 (03 Feb 2022) BAJAJ-AUTO 7,717.05 7,799.50 7,764.80 (01 Feb 2024) 7,799.50 (02 Feb 2024) BANKBARODA 257.15 261 257.45 (01 Feb 2024) 1,138.10 (21 Jan 2015) BANKINDIA 151.9 156.35 146.20 (01 Feb 2024) 588.00 (07 Oct 2010) BBTC 1,703.00 1,751.25 1,748.85 (01 Feb 2024) 10,500.00 (01 Sep 1994) BHEL 231.4 235.7 234.40 (30 Jan 2024) 2,925.00 (07 Nov 2007) BIRLACORPN 1,558.05 1,628.00 1,625.00 (01 Feb 2024) 1,649.00 (09 Nov 2021) BLUESTARCO 1,199.50 1,214.00 1,199.90 (01 Feb 2024) 1,554.40 (14 Jun 2023) BOSCHLTD 23,948.80 24,263.85 24,116.35 (30 Jan 2024) 27,989.25 (20 Mar 2015) BPCL 552.85 556.6 517.85 (30 Jan 2024) 1,152.45 (12 Jul 2016) CANBK 516.2 521.8 505.20 (01 Feb 2024) 844.00 (09 Nov 2010) CASTROLIND 200.05 208 199.45 (01 Feb 2024) 2,400.00 (22 Apr 1992) CENTRALBK 60.88 63.39 59.95 (01 Feb 2024) 249.05 (08 Nov 2010) COALINDIA 414.85 418.55 416.25 (30 Jan 2024) 447.25 (05 Aug 2015) CONCOR 917.1 938.5 932.80 (04 Jan 2024) 2,444.00 (27 Jun 2007) DELHIVERY 463.2 478.7 473.90 (01 Feb 2024) 708.45 (21 Jul 2022) EIDPARRY 646.5 663.75 662.65 (01 Feb 2024) 673.30 (20 Oct 2022) EIHOTEL 336.2 339.1 329.50 (01 Feb 2024) 857.50 (11 Sep 2006) ENGINERSIN 259.85 259.85 255.00 (20 Jan 2024) 2,599.00 (25 Mar 2010) EXIDEIND 341.7 347.3 342.35 (12 Jan 2024) 388.45 (07 Sep 2006) GAEL 401.6 414 410.05 (18 Dec 2023) 414.00 (02 Feb 2024) GAIL 178.3 179.85 177.10 (30 Jan 2024) 555.00 (01 Jan 2008) GPPL 182.25 190.05 185.40 (01 Feb 2024) 262.00 (06 Apr 2015) GUJGASLTD 591.35 599.65 593.00 (01 Feb 2024) 973.95 (03 Nov 2017) HDFCAMC 3,555.35 3,616.00 3,613.75 (31 Jan 2024) 3,844.00 (22 Nov 2019) HEROMOTOCO 4,710.00 4,768.00 4,718.15 (01 Feb 2024) 4,768.00 (02 Feb 2024) HINDCOPPER 293.25 297.3 295.65 (31 Jan 2024) 656.95 (20 Jan 2010) HINDPETRO 491.1 496 485.50 (30 Jan 2024) 1,328.95 (09 Aug 2016) HUDCO 209.55 226.95 207.00 (01 Feb 2024) 226.95 (02 Feb 2024) ICICIGI 1,501.25 1,531.60 1,520.00 (30 Jan 2024) 1,674.00 (22 Sep 2021) IDBI 86.75 90.66 89.50 (01 Feb 2024) 202.25 (11 Nov 2010) INDHOTEL 499.65 518.85 501.95 (30 Jan 2024) 1,584.00 (10 May 2006) INDIANB 543.6 554.1 529.30 (01 Feb 2024) 554.10 (02 Feb 2024) INDIGO 3,080.00 3,136.05 3,131.95 (16 Jan 2024) 3,136.05 (02 Feb 2024) INFY 1,687.75 1,718.60 1,689.90 (30 Jan 2024) 16,931.65 (04 Jan 2000) IOB 53.99 56.22 52.65 (01 Feb 2024) 228.90 (07 Jan 2008) IOC 161.65 163.8 152.15 (30 Jan 2024) 875.00 (24 Jun 1997) JBMA 1,983.15 2,047.75 2,010.80 (01 Feb 2024) 2,047.75 (02 Feb 2024) JKCEMENT 4,385.30 4,464.15 4,449.85 (01 Feb 2024) 4,464.15 (02 Feb 2024) L&TFH 174.3 176.2 175.45 (01 Feb 2024) 213.60 (24 Oct 2017) LICHSGFIN 632.65 642 635.00 (01 Feb 2024) 1,496.50 (29 Sep 2010) MAHABANK 56.75 58.86 57.13 (01 Feb 2024) 96.50 (07 Jan 2008) MCX 3,648.10 3,653.00 3,473.95 (01 Feb 2024) 3,653.00 (02 Feb 2024) MEDANTA 1,218.70 1,305.00 1,201.75 (01 Feb 2024) 1,305.00 (02 Feb 2024) MRPL 193 198.9 185.85 (15 Jan 2024) 198.90 (02 Feb 2024) MSUMI 69.3 72.25 71.43 (01 Feb 2024) 94.05 (09 Sep 2022) NATIONALUM 151.15 152.4 151.45 (01 Feb 2024) 565.90 (29 May 2008) NBCC 161.45 167.95 144.95 (01 Feb 2024) 1,214.50 (06 Aug 2015) NH 1,340.75 1,378.95 1,375.60 (01 Feb 2024) 1,378.95 (02 Feb 2024) NHPC 98.79 103 93.90 (01 Feb 2024) 103.00 (02 Feb 2024) NLCINDIA 266.75 276.85 266.45 (27 Dec 2023) 276.85 (02 Feb 2024) NMDC 235.7 236.75 227.35 (05 Jan 2024) 16,584.10 (06 Nov 2007) NSLNISP 70.73 73.28 70.92 (01 Feb 2024) 73.28 (02 Feb 2024) NTPC 330 332.85 326.95 (01 Feb 2024) 332.85 (02 Feb 2024) OIL 438.85 444 443.15 (30 Jan 2024) 1,635.00 (15 Sep 2010) PFC 451.4 461.45 453.75 (30 Jan 2024) 461.45 (02 Feb 2024) PFIZER 4,625.95 4,710.00 4,699.85 (01 Feb 2024) 6,164.80 (08 Sep 2021) PNB 124.75 126.25 119.60 (01 Feb 2024) 1,395.00 (09 Nov 2010) POWERGRID 278.75 281.45 270.90 (01 Feb 2024) 281.45 (02 Feb 2024) PSB 63.4 64.93 54.78 (01 Feb 2024) 149.70 (30 Dec 2010) RECLTD 500.55 513.75 511.50 (30 Jan 2024) 513.75 (02 Feb 2024) RELIANCE 2,888.80 2,949.90 2,917.95 (30 Jan 2024) 3,252.10 (15 Jan 2008) SANOFI 8,907.45 8,965.00 8,800.00 (01 Feb 2024) 9,300.00 (10 Aug 2021) SJVN 140 146.3 134.74 (30 Jan 2024) 146.30 (02 Feb 2024) SPLPETRO 619.8 627 617.65 (18 Oct 2023) 1,027.05 (28 Mar 2022) SUZLON 48.85 50.72 48.31 (01 Feb 2024) 2,300.00 (09 Jan 2008) SWANENERGY 671.45 688.4 666.15 (01 Feb 2024) 4,928.25 (12 Oct 2006) TATAMTRDVR 587 594.9 594.75 (01 Feb 2024) 940.25 (11 Nov 2010) TCS 3,948.00 3,982.05 3,965.00 (15 Jan 2024) 4,045.50 (18 Jan 2022) TORNTPOWER 1,068.25 1,098.25 1,085.00 (01 Feb 2024) 1,098.25 (02 Feb 2024) UCOBANK 49.76 51.6 49.84 (01 Feb 2024) 152.35 (22 Nov 2010) UNIONBANK 149.1 152.45 146.90 (01 Feb 2024) 426.80 (27 Oct 2010) VARROC 603.85 619 596.00 (01 Feb 2024) 1,177.45 (03 Sep 2018) ZOMATO 143.5 144.95 143.50 (01 Feb 2024) 169.10 (16 Nov 2021) Nifty Today LIVE | RIL, Infy, TCS, NTPC among top movers
RIL, Infy, TCS, NTPC and BPCL are the top movers in the Nifty baskets at this hour.
Here's a look at the heatmap in the 50-scrip universe by weight:
Source: NSE
Share Market Today LIVE | TCS, Infy, Power Grid, other stocks hit 52-week highs
As many as five stocks in the S&P BSE basket reached the milestone.
Stock CMP 52 Weeks High Previous 52 Weeks High(Price/Date) All Time High(Price/Date) INFY 1,686.20 1,718.60 1,689.90 (30 Jan 2024) 16,931.65 (04 Jan 2000) NTPC 330.25 332.85 326.95 (01 Feb 2024) 332.85 (02 Feb 2024) POWERGRID 279.1 281.45 270.90 (01 Feb 2024) 281.45 (02 Feb 2024) RELIANCE 2,892.00 2,949.90 2,917.95 (30 Jan 2024) 3,252.10 (15 Jan 2008) TCS 3,945.00 3,982.05 3,965.00 (15 Jan 2024) 4,045.50 (18 Jan 2022) Share Market Today LIVE | Nifty near 21,900, Sensex gain 600 pts aided by IT, oil & gas stocks
Share Market Today LIVE | LIC Housing Finance shares hit 52-week high ahead of Q3 results today; here’s what to expect
LIC Housing Finance shares gain to a 52-week high on Friday, continuing to gain for the seventh session in a row, as investors awaited the non-banking financial company’s quarterly results due later in the day. The stock of Mumbai-headquartered LIC Housing Finance (LICHSGFIN) strengthens by as much as Rs 12.4, or two per cent, to Rs 642 apiece on BSE.
Analysts expect the housing finance firm to stage a strong financial performance later on Friday on the back of robust growth and easing credit costs.
According to Zee Business research, LIC Housing Finance is estimated to report a standalone net profit of Rs 1,140 crore for the quarter ended December 31, 2023, translating into a jump of 2.4 times compared with the corresponding period a year ago. They peg the NBFC’s net interest income (NII), or the difference between interest earned and interest paid, to grow 27 per cent on a year-on-year basis to Rs 2,040 crore. Read more
Share Market Today LIVE | TCS, Infosys hit 52-week highs; HCL, Wipro, and Tech Mahindra in green. Why are IT stocks trading higher today?
Indian IT stocks such as TCS, HCL, Wipro, Infosys and Tech Mahindra are trading in positive territory on BSE on Friday after tech stocks in the US market gained. The US NASDAQ 100 Technology Sector Index jumped by 0.93 per cent, or 91.90, at 9888.86 points, after tech firms Meta and Amazon reported upbeat earning results.
Let's see how Indian IT stocks are performing after US tech stocks got boost from giants' earning numbers.
TCS
Tata Consultancy Services hit a 52-week high of Rs 3982.05 on BSE. The stock of India's biggest IT company is trading higher by 3.31 per cent, or Rs 127.60, at Rs 3979.05 on BSE.
HCL Tech
The IT firm's day's high of Rs 1612.70 is quite close to its 52-week high of Rs 1617.65. Its stock is trading up by 2.04 per cent, or Rs 32.20, at Rs 1608.70 on BSE.
Infosys
The IT giant also hit a 52-week high of Rs 1718.60 on NSE. The stock of the firm is higher by 3.30 per cent, or Rs 54.70, at Rs 1711.15 on BSE. Read more
Share Market Today LIVE | Infosys gains over 3% in today's trade; stock gains 12% in 1 month
Shares of Infosys trade 3.2 per cent, or Rs 52.95, higher at Rs 1,709.4 apiece on BSE. Meanwhile, its market capitalisation stands at Rs 7,09,416.14 crore. Infosys recently reported its financial results for the October-December period on January 11, Thursday. The company reported a consolidated profit after tax (PAT) or net profit of Rs 6,106 crore for the quarter that ended December 31, 2023 (Q3 FY24).
The figure fell 1.7 per cent on a QoQ basis and 7.3 per cent YoY. Infosys recently announced that it was celebrating its 25-year partnership with SAP, a global leader in enterprise software and services. Read more
Share Market Today LIVE | Nifty scales fresh peak of 22,126.8, scaling earlier peak touched on January 16,2024
Share Market Today LIVE | Should you buy, sell or hold Titan shares after Tata group firm’s weak quarterly show?
Titan shares register mild gains on Friday, snapping three back-to-back sessions of losses after the Tata group company reported a quarterly net profit that fell short of analysts’ estimates. The Titan stock gains by as much as Rs 86, or 2.4 per cent, to Rs 3,713.5 apiece on NSE.
During the last 30 minutes of trade on February 1, the Bengaluru-headquartered consumer lifestyle firm, which manufacturers a range of products such as jewellery and watches, reported a 9.4 per cent year-on-year increase in standalone net profit to Rs 1,040 crore for the quarter ended December 31, 2023, driven by sales in the festive season.
Its total income grew 22.7 per cent to Rs 13,071 crore for the fiscal third quarter, according to a regulatory filing.
Titan shares: What do brokerages suggest?
Titan Brokerage Rating Target (INR) CLSA Buy 4354 Morgan Stanley Equalweight 3290 Jefferies Hold 3600 Goldman Sachs Buy 4075 JP Morgan Overweight 3950 Macquarie Outperform 4000 CLSA maintained a ‘buy’ call on Titan after the company’s earnings announcement and reduced its target for the stock to Rs 4,354 from Rs 4,494. "Overall EBITDA margin, at 11.2 per cent, 117bps below estimates primarily due to significant EBIT margin contractions in the watch & eyecare segments," according to the brokerage.
Morgan Stanley maintained an ‘equal-weight’ rating on the counter and raised its target to Rs 3,290 from Rs 3,190. The Tata group firm missed the brokerage’s earnings estimates with weak margins. Continued momentum in jewellery was positive while eyecare growth was weak, and the management remains optimistic, according to Morgan Stanley. Read more
Dividend, Bonus stocks | Oberoi Realty, IEX, Zensar Tech among 11 shares trade ex-date today
A total of 11 stocks traded ex-dividend on Friday, February 2, according to the NSE website. The list includes Oberoi Realty, IEX, Zensar Technologies, and other stocks.
Kewal Kiran Clothing dividend
Kewal Kiran Clothing has announced an interim dividend of Rs 2 per equity share with a face value of Rs 10. The record date is also February 2.
Sandur Manganese ex bonus date
Sandur Manganese & Iron Ores has turned ex-bonus in a ratio of 5:1.
Share India Securities dividend
Share India Securities has announced an interim dividend of Rs 3 per equity share with a face value of Rs 10.
Global Education dividend
Global Education has announced an interim dividend of Rs 1.25 per equity share with a face value of Rs 5.
ShreeOswal Seeds bonus record date
ShreeOswal Seeds And Chemicals has turned an ex-bonus date in the ratio of 1:5.
Indian Energy Exchange dividend
Indian Energy Exchange has announced an interim dividend of Re 1 per equity share with a face value of Re 1. Read more
Share Market Today LIVE | Tata Motors shares rise ahead of Q3 results; here's what analysts expect
Shares of Tata Motors trade 1.59 per cent or Rs 13.95, higher at Rs 892.3 apiece on the BSE ahead of posting Q3FY24 results. Meanwhile, its market capitalisation stands at Rs 2,96,497.65 crore on BSE.
Zee Business analysts expect the automotive company to report a consolidated net profit of Rs 4,100 crore against Rs 2,958 crore a year ago, which is an increase of 39 per cent. The company is estimated to post a revenue of Rs 10,7800 crore for the third quarter that ended December 31 against Rs 88,489 crore year-on-year (YoY), up 21.8 per cent. Read more
Share Market Today LIVE | Here's how auto stocks are faring after reporting January sales numbers
Hero MotoCorp hit an all-time high; TVS Motor is up, while Eicher Motor and Ashok Leyland stocks trade lower on BSE on Friday after January auto numbers of these auto companies were revealed a day ago. Despite reporting below Zee Business research estimate numbers for January, the stock of Hero Motor Corp hit an all-time high of Rs 4718.15.
Here, we take you through January auto numbers and the performance of auto company stocks.
Hero MotoCorp
The two-wheeler automaker reported less than estimated January sales numbers, but those were up by 22 per cent to 4.33 lakh from 3.57 lakh in December. Zee Business research had estimated the numbers to be 4.8 lakh. The stock of the company is trading up by 2.60 per cent, or Rs 119.10, at Rs 4,706 on BSE.
TVS Motor
The stock of the large-cap auto firm is also trading in positive territory as it is up by 1.24 per cent, or Rs 24.70, at Rs 2021.65. The auto firm reported below-estimate January sales numbers, but its two-wheeler sales were up by 25 per cent to 3.3 lakh from 2.6 lakh, below analysts' estimates of 3.3 lakh.
The company's total sales also saw a jump of 23 per cent to 3.4 lakh from 2.75 lakh against the estimates of 3.46 lakh.
Eicher Motors
Eicher Motors is trading below 2 per cent despite reporting above research-estimate numbers in January. The January sales of its marquee- Royal Enfield- jumped by two per cent to 76187 from 74746, which was above analysts' estimates of 74000.
The stock of the company is down by 2.07 per cent, or Rs 81.25, at Rs 3,852 on BSE. Read more
Share Market Today LIVE | Nifty Bank gains nearly 1%, up 375 pts
Source: NSE
Currency Update | Rupee rises 16 paise to 82.82 against US dollar
The rupee appreciates 16 paise to 82.82 against the US dollar in early trade on Friday supported by positive domestic equities, as the interim budget focused on higher capex and faster fiscal consolidation.
Share Market Today LIVE | Paytm's update post-RBI action fails to assuage investors' concerns as stock crashes 20% again; analysts remain bearish
Paytm shares, after a heavy beating in Thursday’s trade, hit a 20 per cent lower circuit in the opening trade today at Rs 487.05 on BSE. In the previous session, shares of the fintech firm settled at the 20 per cent lower circuit at Rs 608.8 per share on the BSE.
The massive erosion in Paytm’s stock price is the result of the RBI’s stringent action whereby it has prohibited Paytm Payments Bank Limited (PPBL) from accepting deposits or top-ups in any customer account, prepaid instrument, wallet, or FASTags after February 29, 2024.
“PPBL is taking immediate steps to comply with RBI directions, including working with the regulator to address their concerns as quickly as possible, said One 97 Communications, the parent company of Paytm, in its filing with the exchanges. 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 21,425-21,500 levels and a strong buy zone at 21,250-21,350 levels on Friday, February 2. For the Nifty Bank, he expects support to come in at 45,075-45,200 levels and a strong base at 44,875-45,000 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Nifty reclaims 21,850, Sensex soars over 350 pts
Nifty 50
Source: NSESensex
Source: BSE
Stocks to Watch | EIH, Godrej Agrovet, Indian Hotels, City Union Bank, other stocks
Here are some stocks that will be in focus on Friday, February 2:
Results on February 2: Tata Motors, LIC Housing Finance, Torrent Pharma, InterGlobe Aviation, Metropolis Healthcare, Bikaji Foods International, Rategain Travel Technologies, Devyani International, Titagarh Rail Systems and JSW Infrastructure are some companies that will release their Q3 results.
Indian Hotels: The Tata Group hotel company posted a consolidated net profit of Rs 476.93 crore against Rs 403.56 crore YoY. The total income for the quarter under review stood at Rs 2003.64 crore against Rs 1743.51 crore a year ago.
Auto stocks: On Thursday, Tata Motors, Ashok Leyland, and other auto companies released their auto sales numbers. Eicher Motors came up with good January sales numbers. The firm registered Royal Enfield sales of 76,187 units as against estimates of 74,000 units. Hero MotoCorp, on the other hand, posted 2-wheeler sales of 4.33 lakh units as against estimates of 4.8 lakh units. Similarly, TVS Motor and Ashok Leyland posted weak sales numbers, with total sales of TVS Motors coming in at 3.4 lakh units as against estimates of 3.46 lakh units.
City Union Bank: The company recorded a consolidated profit for the third quarter (Q3FY24) of Rs 253,03 crore against a profit of Rs 217.84 crore a year ago. The company's total income for the quarter under review stood at Rs 1,519.1 crore against Rs 1,430 crore year-on-year (YoY).
Godrej Agrovet: The company recorded a net profit of Rs 82.96 crore for Q3 against Rs 114.59 crore a year ago. The total income of the company stood at Rs 2,353.57 crore for the quarter under review against Rs 2,401.9 crore YoY. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a higher start ahead on D-Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 148.55 points or 0.68 per cent at 21,900 ahead of the opening bell on Dalal Street.
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