Why Sensex, Nifty declined Today?


by Sandip Das on 12 February 2024,  5 min read

Why Sensex, Nifty declined Today? - MyDhanush Blogs by Ashika

The Indian equity market was trading in the red on February 12, 2024, amid profit booking. At 2:02 PM, Sensex declined 446 points at 71,148.84 while Nifty shed 138 points and was trading at 21,643.85.

Around 514 stocks advanced and 1945 declined while 79 stocks remained unchanged.

Among the sectors, selling was witnessed in PSU Bank, Media, Realty, and Oil & Gas indices. However, buying was seen in the pharma and IT space.

Top PSU Bank Losers:
  1. Indian Overseas Bank: down 8.85%
  2. Central Bank of India: down 7.87%
  3. Punjab & Sind Bank: down 7.06%
Top Media Losers:
  1. Dish TV: down 6.83%
  2. DB Corp: down 4.67%
  3. Hathway Cable: down 4.37%
Also read: What is Sovereign Gold Bond Scheme 2023-24 Series IV?
Most Active Stocks on NSE in Terms of Volumes
Company Name % Change Volumes
Tata Steel -1.98 2,97,16,113
ONGC -2.32 2,53,03,307
Wipro 2.86 2,22,01,470
State Bank of India -2.34 1,89,10,459
Coal India -3.06 1,62,37,933
Top Nifty50 Gainers
Company Name Last Traded Price (Rs) % Change
Dr Reddy’s Labs 6368.3 3.45
Wipro 504.5 2.86
Apollo Hospitals 6619 2.82
Divis Labs 3755.2 2.82
HCL Tech 1672.2 2.55
Top Nifty50 Losers
Company Name Last Traded Price (Rs) % Change
Hero MotoCorp 4690.5 -4.45
Coal India 442.25 -3.06
BPCL 597.15 -2.79
IndusInd Bank 1446.75 -2.66
State Bank of India 708.3 -2.34
Stocks on the Radar
Bandhan Bank: down 7.24% as Rs 23,300-crore loans go under evergreening review

The National Credit Guarantee Trustee Company (NCGTC) is reviewing loans worth Rs 23,300 crore that Bandhan Bank lent out under credit guarantee schemes, leading to a more than 7 percent plunge in Bandhan Bank’s shares to Rs 200 each. Doubts about evergreening practices, which involve extending new or additional loans to borrowers unable to repay existing loans, are the reason behind the review. Concealing the true status of non-performing assets (NPAs) or bad loans is the purpose of this practice.

LIC: down 2.41% even after strong Q3 earnings

Last week, LIC announced robust earnings for the quarter ended December 2023, with a 49 percent year-on-year surge in net profit to Rs 9,441 crore. The impressive performance was fueled by a rise in net income from investments and an increase in net premium income. In Q3FY24, LIC’s net premium income showed a growth of 4.67 percent year-on-year, reaching Rs 1.17 lakh crore.

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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