Share Market Updates: Sensex, Nifty Slide; PSU Bank, Realty Indices Shine
by Sandip Das on 7 February 2024, 4 min read
The Indian stock market was trading in the red intraday on February 7, 2024. At 12:53 PM, Sensex shed 154 points at 72,020 while Nifty was down 32 points and was trading at 21,897.
Around 1374 stocks advanced and 1013 declined while 92 stocks remained unchanged.
Among the sectors, the PSU Bank and realty index added 2 percent each followed by the metal index. However, selling pressure was witnessed in the IT and auto space.
Top Nifty50 Gainers
| Company Name | Last Traded Price (Rs) | % Change |
| State Bank of India | 672.9 | 3.48 |
| Britannia Industries | 5139.45 | 2.64 |
| JSW Steel | 839.9 | 2.58 |
| HDFC Life Insurance | 604.5 | 1.98 |
| Grasim Industries | 2100.5 | 1.67 |
Top Nifty50 Losers
| Company Name | Last Traded Price (Rs) | % Change |
| Infosys | 1690.9 | -2.23 |
| Power Grid | 269.4 | -1.77 |
| Tata Consultancy Services | 4080.4 | -1.34 |
| Tech Mahindra | 1335.5 | -1.15 |
| ICICI Bank | 1015.4 | -1.07 |
Stocks in the news
EIH: up 15.66% after record Q3 earnings
After reporting record earnings for the December quarter, EIH, the company operating the Oberoi chain of hotels, witnessed a surge of over 15 percent in its share price. The company’s profit saw a remarkable 52 percent year-on-year increase, reaching Rs 229.94 crore. The total income rose to Rs 769.87 crore. EIH achieved an Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) of Rs 324 crore in the third quarter. It marked a 55 percent on-year growth. The company also experienced an improvement in its margin, rising to 43.7 percent from 35.6 percent compared to the previous year.
Also read: Can Fin Homes, Castrol India Top 2 Stocks Which Can Give Up To 19% Return
TRF: Hits 20% upper circuit after Tata Steel calls off merger
TRF stock price hit 20 percent upper circuit after Tata Steel called off the merger. “Since the announcement of the intended merger of TRF in September 2022, Tata Steel has been providing significant operational and financial support by way of placement of orders and infusion of funds,” Tata Steel said in an exchange filing.
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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