Stock Market News: Sensex, Nifty Likely to Open Flat Following Weak Global Cues


by Sandip Das on 19 February 2024,  4 min read

Stock Market News: Sensex, Nifty Likely to Open Flat Following Weak Global Cues

The Indian benchmark indices ended on a positive note on February 16, 2024, rising for the fourth consecutive session. At close, Sensex gained 376 points at 72,426.64 while Nifty added 129 points and ended the session at 22,040.70.

Around 1549 stocks advanced and 1005 declined while 103 stocks remained unchanged in the stock market.

Among sectors, except PSU Bank, oil & gas, and power, all other indices are trading in the green. Auto, capital goods, pharma, IT, and realty were up 1-2 percent.

GIFT Nifty

GIFT Nifty indicates a cautious start for Indian indices.

US Markets

US stocks fell on Friday with the Nasdaq showing the largest decline. This comes after a hotter-than-expected producer prices report eroded hopes for imminent interest rate cuts by the Federal Reserve. The S&P 500 lost 24.18 points, or 0.49%, to end at 5,005.15 points. The Nasdaq Composite lost 132.38 points, or 0.83%, to 15,775.65. The Dow Jones Industrial Average fell 149.48 points, or 0.39%, to 38,623.64, Reuters reported.

Asian Markets

Asian stock markets got off to a slow start on Monday as fading chances for early rate cuts globally soured the mood. However, investors are hoping China markets return from holiday with a spring in their step. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2%, after bouncing 2% last week. Japan’s Nikkei was flat, having surged more than 4% last week to stop just short of its all-time high, according to a Reuters report.

Also read: Expect HDFC Bank, Kotak Mahindra Bank to Head Higher: Ashika Research
Stocks in the news
  • HDFC Bank: The bank is likely to receive inflows of $300 million (Rs 2,500 crore) from passive funds tracking Financial Times Stock Exchange (FTSE) indices.
  • Bharti Airtel: US-based private equity major Carlyle is in talks with Blackstone to sell its 25 percent stake in Nxtra Data, the data center subsidiary of Bharti Airtel, at a valuation of Rs 2,500 crore.
  • Tata Power: The company received a Letter of Intent from REC Power Development to acquire Jalpura Khurja Power Transmission for consideration of Rs 838 crore.
  • PB Fintech: The company’s wholly-owned subsidiary, Policybazaar, received the nod from the Insurance Regulatory and Development Authority of India (Irdai) to upgrade its license from a direct insurance broker to a composite insurance broker.
  • JSW Steel: The JSW group entities plan to invest about Rs 65,000 crore over time to set up an integrated manufacturing complex in Jagatsinghpur district of Odisha.
  • NTPC: The firm inked an initial agreement with NALCO to supply over 1,200 MW of round-the-clock power for the aluminum maker’s operations in Odisha.
  • Titagarh Rail Systems: The company received an order worth approximately Rs 170 crore for the manufacture and supply of 250 specialized wagons from the Ministry of Defence.
  • Ramkrishna Forgings: The company has made an additional investment by way of a rights issue in the equity share capital of Ramkrishna Aeronautics Pvt., a wholly owned subsidiary company.
FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 253.28 crore in the stock market. Domestic institutional investors (DIIs) purchased Rs 1,571 crore worth of stocks on February 16, provisional data from the NSE showed.

Bulk Deals
  • Australian Prem Solar I L: Nav Capital Vcc – Nav Capital Emerging Star Fund sold 2,00,000 shares at Rs 242.65
  • Tijaria Polypipes Ltd: Bank Of India sold 5,00,000 shares at Rs 6.33
  • Datapatterns: Florintree Capital Partners LLP sold 59,96,622 shares at Rs 1837. Government Of Singapore bought 31,47,725 shares at Rs 1837. Mirae Asset Mutual Fund bought 7,10,310 shares at Rs 1837. Mathew Cyriac bought 6,80,622 shares at Rs 1837. Kotak Mahindra Mutual Fund bought 4,55,000 shares at Rs 1837.
Stocks under F&O ban on NSE

The NSE has added National Aluminium Company to the F&O ban list for February 19

Disclaimer: The content of this blog post is intended solely for informational purposes and should not be interpreted as investment or trading advice. The author does not assure the accuracy or completeness of the information presented. Any decisions or actions taken based on the content of this blog post are undertaken at your own risk.

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