Stock Market Today: GIFT Nifty indicates a flat start for Sensex, Nifty

The Indian stock market closed in the red on February 12, 2024, amid profit booking. At close, Sensex declined 523 points at 71,072.49 while Nifty fell 166 points and ended the session at 21,616.05.

Around 524 stocks advanced and 2089 declined while 88 stocks remained unchanged.

On the sectoral front, FMCG, PSU Bank, capital goods, metal, oil & gas, power, and realty were down 1-4 percent each. Healthcare and IT indices ended in the green.

GIFT Nifty

Trends on GIFT Nifty indicates a flat start for Indian indices.

US Markets

The Nasdaq slipped on Monday afternoon after briefly surpassing its record closing high from November 2021, while the Dow rose modestly ahead of two U.S. inflation reports this week that could influence Federal Reserve policy. The benchmark S&P 500 closed slightly lower but remained just above the 5,000-point level it crossed on Friday.

The S&P 500 lost 4.12 points, or 0.08%, to end at 5,022.49 points. The Nasdaq Composite lost 42.74 points, or 0.27%, to 15,947.92. The Dow Jones Industrial Average rose 135.76 points, or 0.35%, to 38,807.45, Reuters reported.

Asian Markets

Asian stocks inched higher and the dollar held steady on Tuesday ahead of a key US inflation report that could help shape the Federal Reserve’s rates outlook and determine the timing of interest rate cuts.

MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.15% higher in early trading. Japan’s Nikkei on the other hand has carried on from last year and is up 12% for the year. On Tuesday, the index rose 1.7% to hit a fresh 34-year high on the back of a weak yen, according to a Reuters report.

Also read: What is Sovereign Gold Bond Scheme 2023-24 Series IV?

Stocks in the news

• Coal India: The country’s largest coal mining company has recorded consolidated profit at Rs 9,093.7 crore for the third quarter of FY24, growing 17.8 percent over a year-ago period.
• Steel Authority of India: The state-owned steel company has reported a consolidated net profit of Rs 423 crore for the October-December period of FY24, falling 22 percent on a high base. Revenue from operations fell 6.8 percent year-on-year to Rs 23,349 crore for the quarter.
• One97 Communications (Paytm): RBI Governor Shaktikanta Das firmly dismissed any possibility of a review of the central bank’s action against Paytm Payments Bank. He stated that the decision was taken after a comprehensive assessment of the firm’s operations
• Mahindra and Mahindra: The auto major reported total production at 1.01 lakh units vs 76,421 units, year-on-year. Total sales stood at 72,198 units vs 61,326 units and total exports at 1,746 units vs 3,009 units for January.
• RVNL: The company has emerged as the lowest bidder from Madhya Pradesh Paschim Kshetra Vidyut Vitran Co. for the supply, installation, testing, and commissioning of the new 11 KV line. The size of the order is Rs 106 crore.
• V Guard Industries: The firm’s unit started commercial production of inverter batteries at the Hyderabad plant. The company had invested Rs 35 crore in the project via internal accruals. 
• JSW Energy: The company’s unit received a Letter of Acceptance for 500 MW wind capacity from Solar Energy Corp.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 126.60 crore. Domestic institutional investors (DIIs) purchased Rs 1,711.75 crore worth of stocks on February 12.

Bulk Deals

• Parkhotels: Quant Mutual Fund – Quant Small Cap Fund bought 93,20,000 shares at Rs 196.33. Tt Asia-Pacific Equity Fund bought 11,25,349 shares at Rs 186.15
• Hindustan Foods Limited: Sixth Sense India Opportunities 11 sold 6,00,000 shares at Rs 552.93
• SMS Pharmaceuticals Limited: Dovetail India Fund Class 11 Shares sold 5,00,000 shares at Rs 152.45

Stocks under F&O ban on NSE

The NSE has added Aditya Birla Fashion & Retail, and Bandhan Bank to the F&O ban list for February 13.

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.