Stock Market Today: Trends on GIFT Nifty Indicates a Cautious Start for Indian Indices


by Sandip Das on 16 February 2024,  4 min read

Stock Market Today: Trends on GIFT Nifty Indicates a Cautious Start for Indian Indices

The Indian stock market ended the session on February 15, 2024 on a positive note amid volatility. At close, Sensex was up 227 points at 72,050.38 while Nifty added 70 points and ended the session at 21,910.75.

Around 1635 stocks advanced and 900 declined while 99 stocks remained unchanged.

On the sectoral front, except FMCG, all other indices ended in the green. The BSE Midcap and Smallcap indices were up 1 percent each.

GIFT Nifty

Trends on GIFT Nifty indicate a cautious start for Indian indices.

US Markets

US stocks closed higher on Thursday as retail sales data declined more than expected, feeding hopes the Federal Reserve will soon start cutting interest rates in coming months, according to a Reuters report.

The S&P 500 tab gained 29.05 points, or 0.58 percent, to end at 5,029.67 points, while the Nasdaq Composite gained 47.03 points, or 0.30 percent, to 15,906.17. The Dow Jones Industrial Average rose 350.07 points, or 0.91 percent, to 38,774.73.

Also read: Thaai Casting IPO: Check Out Reserve Portion, Price Band & More
Asian Markets

Japan’s benchmark Nikkei got off to a roaring start on Friday, opening the morning session at its highest since Japan’s economic bubble burst in the late 1980s. The Nikkei share average was last up 1.6% at 38,769.64, surpassing the post-economic bubble-era high of 38188.74. So far it’s up 14.0% for the year. The broader Topix was up 1.1% at 2620.53.

Stocks in the news
  • Interglobe Aviation: The company saw a slight dip in market shares to 60.2 percent in January, as per data released by the Directorate General of Civil Aviation. The market share of SpiceJet remained unchanged at 5.6 percent.
  • Lupin Ltd: The firm announced that it has launched Ganirelix Acetate Injection in the United States, indicated to inhibit premature luteinizing hormone surges in women.
  • Bharat Petroleum Corporation: The company said the green hydrogen project is a pilot project for gaining experience in handling hydrogen for the automobile sector with an estimated capital investment of approximately Rs 25 crore. The project is planned in collaboration with Cochin International Airport (CIAL).
  • Cipla: The firm entered into a collaborative research agreement with CSIR-Central Drug Research Institute (CSIR-CDRI), a constituent laboratory of the Council of Scientific and Industrial Research, Government of India, to jointly develop a novel ophthalmic formulation for fungal keratitis. The collaboration aims to leverage the combined expertise and resources of both organizations to develop a safe and efficacious drug for fungal keratitis.
  • NBCC: The company won a housing redevelopment project for MEA worth Rs 262 crore.
  • Medplus Health Services: The company’s subsidiary has received a suspension order of drug license for 15 days from the Food and Drug Administration (FDA), Thane, for its store at Khopat, Thane.
FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 3,064.15 crore, while domestic institutional investors (DIIs) bought Rs 2,276.93 crore worth of stocks on February 15.

Bulk Deals
  • Vedanta: Finsider International Company Limited sold 6,55,18,600 shares at Rs 265.14
  • Yes Bank: Ca Basque Investments sold 39,00,00,000 shares at Rs 27.1. Morgan Stanley Asia (Singapore) Pte. bought 30,63,05,668 shares at Rs 27.1
  • Sudarshan Chemicals: HDFC Mutual Fund bought 17,75,551 shares at Rs 513.99
  • Alpex Solar Limited: BoFA Securities Europe SA bought 2,20,800 shares at Rs 337.47
Stocks under F&O ban on NSE

The NSE has added Canara Bank to the F&O ban list for February 16.

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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