Stock Market at Close: Nifty Hits New High; Bank, Realty, Power Outshine


by Sandip Das on 20 February 2024,  6 min read


The Indian stock market ended on a positive note on February 20, 2024. Nifty hit a fresh record high touching the 22,000 mark for the first time. At close, Sensex was up 349 points at 73,057.40 while Nifty gained 74 points and ended the session at 22,196.95.

Around 1255 stocks advanced and 1290 declined while 101 stocks remained unchanged.

On the sectoral front, Bank, Media, power, and Realty were up 1-3 percent each, while Auto, IT, and Metal indices shed 1 percent each.

Top Nifty50 Gainers
Company Name Last Traded Price (Rs) % Change
Power Grid 288.4 4.36
HDFC Bank 1453 2.53
Axis Bank 1087.1 2.27
NTPC 346 2.14
Kotak Mahindra Bank 1766.8 2.04
Top Nifty50 Losers
Company Name Last Traded Price (Rs) % Change
Hero MotoCorp 4665.7 -3.85
Bajaj Auto 8290 -2.58
Eicher Motors 3830.05 -1.87
Coal India 447.8 -1.74
Tata Consultancy Services 4035 -1.68
Most Active Stocks on NSE in Terms of Volumes
Company Name Last Traded Price (Rs) Volumes
Power Grid 288.4 4,30,52,544
HDFC Bank 1453 2,80,66,230
Coal India 447.8 2,78,95,031
Tata Steel 141.15 2,42,87,600
NTPC 346 1,93,38,836
Stocks That Moved the Most
One97 Communications: Up 5%

Founder and CEO of Paytm, Vijay Shekhar Sharma assured that its QR code and soundbox facilities will continue to work. The assurance comes even after the March 15 deadline set by the Reserve Bank of India for the strict restrictions it has slapped on the bank.

Also read: Deem Roll Tech IPO: Check Out Price Band, Issue Size & More

“Paytm QR, soundbox, and EDC (card machine) will continue to work like always, even after March 15. The latest FAQ issued by RBI on point #21 clarifies it unambiguously. Do not fall for any rumor or let anyone deter you from championing Digital India,” Sharma wrote on X.

The RBI confirmed that merchants – around 80 percent as per the management – using Paytm QR or Soundbox linked to another bank account can continue beyond March 15.

Vibhor Steel Tubes: Lists 181% to Issue Price

The Vibhor Steel Tubes stock is the best-performing listing in the mainboard space of 2024 so far. It showcased an 181 percent premium over the IPO price. The stock opened at Rs 425 on the NSE and Rs 421 on the BSE. It surpassed the issue price of Rs 151.

Investors strongly responded to the IPO, subscribing 320 times. High net-worth individuals (HNIs) led the way, purchasing 770 times the allotted quota. Retail investors acquired 200 times the portion designated for them, while qualified institutional buyers booked 191 times the reserved part.

Zee Entertainment: Up 6.67%

During morning trades on February 20, Zee Entertainment Enterprises saw a gain of over 4 percent on the NSE. This surge was attributed to reports suggesting that Zee and Sony Pictures Networks (India) were collaborating on another attempt to revive the mega-merger deal.

The Economic Times, on February 20, reported that Zee Entertainment Enterprises Ltd (ZEEL) was working towards revitalizing their $10-billion merger, which had been called off on January 22. The report indicated that meetings had taken place over the last fortnight to “salvage the deal.” The report also mentioned that Zee was expected to communicate its willingness to accept the terms and conditions to Sony within the next 24-48 hours.

Asian Markets Ends Mixed

Major Asian markets ended on a mixed note on February 20, 2024. Japan’s Nikkei shed 0.28 percent at 38,363.61 while Hang Seng was up 0.57 percent at 16,247.51. Kospi was down 0.85 percent at 2,657.79.

European Markets Trade Weak

Major European markets were trading on a mixed note with FTSE marginally down 0.09 percent at 7,721.23. CAC gained 0.3 percent at 7,791.86 while German DAX shed 0.21 percent at 17,057.15.

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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