Stock Market Updates: Sensex, Nifty Gain Amid Volatility; PSU Bank, Oil & Gas Top Gainers

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by Sandip Das on 15 February 2024,  5 min read

Stock Market Updates: Sensex, Nifty Gain Amid Volatility; PSU Bank, Oil & Gas Top Gainers
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The Indian stock market was trading on a positive note amid volatility on February 15, 2024. At 2:04 PM, Sensex was up 272 points at 72095 while Nifty added 91 points and was trading at 21931.

Around 1648 stocks advanced and 739 declined while 83 stocks remained unchanged.

Among the sectors, the PSU Bank and oil & gas indices jumped over 2 percent each followed by the auto index which added over 1 percent. Metals, IT and Realty were up 0.5 percent each. However, selling pressure was witnessed in the FMCG space.

Top Nifty50 Gainers
Company Name Last Traded Price (Rs) %Change
Mahindra & Mahindra 1774.4 7.08
BPCL 655.5 5.11
Power Grid 282.75 5.05
ONGC 278.5 3.59
NTPC 337.65 2.94
Top Nifty50 Losers
Company Name Last Traded Price (Rs) %Change
Apollo Hospitals 6621.25 -1.97
Axis Bank 1081.55 -1.39
Britannia Industries 4948.75 -1.24
ITC 406.55 -1.21
Hindustan Unilever 2360 -1.17
Stocks on the move
Oil India Limited: up 12.53%

The stock price of Oil India Limited jumped over 12 percent after the company declared its Q3 earnings. Oil India reported a marginal year-on-year increase in consolidated net profit to Rs 2,608 crore, while its revenue from operations reached Rs 10,912.61 crore, reflecting a 3 percent increase. The company’s crude oil earnings before interest and tax (EBIT) in Q3 were Rs 1,430.38 crore, marking a 7 percent decline YoY. EBIT from the natural gas segment amounted to Rs 726.69 crore, compared to Rs 1,091.21 crore the previous year.

Also read: Thaai Casting IPO: Check Out Reserve Portion, Price Band & More
NMDC: up 5.58%, hits 52-week high

India’s largest iron ore producer reported a significant year-on-year growth of 62.6 percent in consolidated net profit, reaching Rs 1,469.73 crore in the December quarter. This growth was propelled by robust domestic demand for steel.

The company’s consolidated revenue also experienced a notable increase, rising by 45 percent to Rs 5,409.90 crore. NMDC’s average selling price aligned with international iron ore prices, which remained strong in the third quarter. The combination of robust domestic demand and sustained international prices led to multiple price hikes.

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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