Nifty Hits Record High, Sensex At Day’s High; Paytm up 10% in 2 Days


by Sandip Das on 19 February 2024,  5 min read

Nifty Hits Record High, Sensex At Day's High; Paytm up 10% in 2 Days

The Indian stock market edged higher intraday on February 19, 2024, with Nifty hitting an all-time high. At 1:03 PM, Sensex was up 354 points at 72,781.03 while Nifty gained 113 points and was trading at 22,153.95.

Around 1644 stocks advanced and 803 declined while 98 stocks remained unchanged.

Among the sectors, barring the realty index, all other sectors were trading in the green. The BSE midcap and smallcap indices added 0.5 percent each.

Top Nifty50 Gainers
Company Name Last Traded Price (Rs) % Change
Grasim Industries 2167.2 2.92
Bajaj Finserv 1613.75 2.40
Bajaj Auto 8509.85 2.22
Bajaj Finance 6741 1.84
ICICI Bank 1041.4 1.77
Top Nifty50 Losers
Company Name Last Traded Price (Rs) % Change
SBI Life Insurance 1488 -1.36
HDFC Life Insurance 585.85 -1.11
Larsen & Toubro 3353.35 -0.99
LTI Mindtree 5530.15 -0.90
Tata Motors 932.75 -0.62
Most active stocks on NSE in terms of volumes
Company Name Last Traded Price (Rs) Volumes
HDFC Bank 1421.3 1,21,38,222
ITC 411.25 1,16,29,440
ONGC 276.4 97,55,914
Tata Steel 142.7 96,86,272
BPCL 658.65 90,18,021
Stocks on the move
Rail Vikas Nigam: up 7.13%

Rail Vikas Nigam Ltd (RVNL) said its order book had touched Rs 65,000 crore, causing shares to zoom 12 percent on February 19 on NSE. The state-run company, in an investor call, announced its intention to explore projects in off-shore markets, including Central Asia, the UAE, and Western Asia.

Also read: Gensol Engineering, IPCA Labs Top 2 Stocks That Can Fetch Up to 17% Return

In response to a question, top management officials stated, “We have an order book of around Rs 65,000 crore, with roughly 50 percent coming from nominations, i.e., typical railway projects, and the remaining 50 percent from the market. Going forward, we aim to maintain an order book of around Rs 75,000 crore.”

One97 Communications (Paytm): Up 5%

On February 19, Paytm shares surged 5 percent, hitting the upper circuit for the second consecutive session, following the crisis-ridden company’s collaboration with Axis Bank for settling merchant payments. One97 Communications, the parent company of Paytm, has transferred its nodal account to Axis Bank, utilizing an escrow account established with the bank. The company stated in a release that Paytm QR, Soundbox, and card machines will persist in operation for all its merchant partners.

Dr Reddy’s Labs: up 1.51%

Dr Reddy’s Laboratories saw a more than 2 percent increase in its shares, reaching a 52-week high of Rs 6,453.95, following a CNBC-TV18 report indicating the company’s participation in the bidding for Novartis AG’s stake in Novartis India. The management of Dr Reddy’s has expressed interest in acquiring a domestic-focused portfolio in recent earnings calls.

On February 16, Novartis AG, a pharmaceutical giant based in Switzerland, initiated a strategic review of its subsidiary, Novartis India. This review encompasses Novartis AG’s 70.68 percent shareholding in its Indian arm.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.

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