Share Market HIGHLIGHTS: Sensex ends 354 pts below day's high on F&O expiry day, Nifty sinks below 17,550
Share Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 finished a choppy session in the red on Thursday, February 23 — the last session of the monthly derivatives (F&O) series, a day typically marked with high volatility. Among heavyweights, gains in stocks such as Axis Bank, ITC, SBI and TCS were offset by losses in Larsen & Toubro, HDFC Bank, Reliance and Asian Paints.
Globally, equities saw largely negative moves as caution persisted among investors about higher interest rates, even as minutes of the FOMC's last policy review showed that "almost all" Fed officials agreed to slow the pace of increases to a quarter of a percentage point. Back home, minutes of the RBI's first review of 2023 revealed an overall hawkish tone of policymakers.
Hindalco, Coal India, Axis Bank, JSW Steel, Tata Motors and SBI were the top gainers in the Nifty50 basket. On the other hand, Asian Paints, Larsen & Toubro, Titan, Divi's, IndusInd Bank, HDFC Life and Adani Enterprises were the worst hit among the 26 laggards in the 50-scrip universe.
Overall market breadth was skewered in favoured of the bears, with an advance-decline ratio of 4:5 as 1,580 stocks rose and 1,862 fell at the close on BSE.
Analysts awaited an official quarterly reading of India's GDP due on Friday evening for domestic cues.
Barring Adani Ports (ADANIPORTS) and Ambuja Cements (AMBUJACEM), all of the Adani group stocks finished the day weaker.
ITC shares scaled a record high.
Catch all the market action, market commentary and analysis only on Zeebiz.com's blog, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, financial results, investment ideas and stock picks:
Share Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 finished a choppy session in the red on Thursday, February 23 — the last session of the monthly derivatives (F&O) series, a day typically marked with high volatility. Among heavyweights, gains in stocks such as Axis Bank, ITC, SBI and TCS were offset by losses in Larsen & Toubro, HDFC Bank, Reliance and Asian Paints.
Globally, equities saw largely negative moves as caution persisted among investors about higher interest rates, even as minutes of the FOMC's last policy review showed that "almost all" Fed officials agreed to slow the pace of increases to a quarter of a percentage point. Back home, minutes of the RBI's first review of 2023 revealed an overall hawkish tone of policymakers.
Hindalco, Coal India, Axis Bank, JSW Steel, Tata Motors and SBI were the top gainers in the Nifty50 basket. On the other hand, Asian Paints, Larsen & Toubro, Titan, Divi's, IndusInd Bank, HDFC Life and Adani Enterprises were the worst hit among the 26 laggards in the 50-scrip universe.
Overall market breadth was skewered in favoured of the bears, with an advance-decline ratio of 4:5 as 1,580 stocks rose and 1,862 fell at the close on BSE.
Analysts awaited an official quarterly reading of India's GDP due on Friday evening for domestic cues.
Barring Adani Ports (ADANIPORTS) and Ambuja Cements (AMBUJACEM), all of the Adani group stocks finished the day weaker.
ITC shares scaled a record high.
Catch all the market action, market commentary and analysis only on Zeebiz.com's blog, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, financial results, investment ideas and stock picks:
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Nifty50 sheds 381 pts in February F&O series
The 50-scrip headline index falls 380.7 points or 2.1 per cent in the February futures & options series.
The Sensex loses 599.3 points or one per cent during this period.
Stock Market Update | Sensex retreats 354 pts from day's high to end at 59,606, Nifty50 gives up 17,550
The Sensex loses 139.2 points or 0.2 per cent to finish the monthly F&O expiry day at 59,605.8 after gyrating in a range of more than 550 points around the flatline. Typically, the last day of a monthly derivatives series is marked with high volatility as traders rush to square off their open positions.
The Nifty50 settles at 17,511.3, down 43.1 points or 0.3 per cent from its previous close, having broadly moved within the 17,450-17,650 band during the session.
Here's a look at how the gauges fared through the day:
Sensex
Share Market Today LIVE | Adani Power, Adani Transmission, Adani Green, Adani Total locked in lower circuit as most group stocks bleed
| Stock | Change (%) | CMP |
| Adani Power (ADANIPOWER) | -5 | 154.5 |
| Adani Transmission (ADANITRANS) | -5 | 749.4 |
| Adani Green Energy (ADANIGREEN) | -5 | 512.4 |
| Adani Total Gas (ATGL) | -5 | 793.3 |
| Adani Wilmar (AWL) | -4 | 374.8 |
| NDTV | -1.5 | 198.8 |
| ACC | -1.3 | 1,729 |
| Adani Enterprises (ADANIENT) | -1.1 | 1,388.8 |
| Ambuja (AMBUJACEM) | 0.5 | 337.1 |
| Adani Ports (ADANIPORTS) | 1.3 | 553.9 |
Global Market LIVE | European markets begin Thursday largely in the green led by semiconductor chip stocks
Equities across European markets begin the day stronger amid gains in semiconductor chip stocks following a positive sales forecast from Nvidia. The pan-European STOXX 600 index is up 0.1 per cent, halting a two-day losing streak. However, caution persists among investors about the prospects of higher-for-longer benchmark interest rates.
- UK's FTSE: down 0.3 per cent
- France's CAC: up 0.2 per cent
- Germany's DAX: up 0.5 per cent
Global Market LIVE | Dow Jones, S&P 500, Nasdaq futures firmly in the green, suggest a positive start ahead on Wall Street
Here's what the futures of the three main Wall Street indices fare at this hour in Asian trade:
- Dow Jones futures: up 0.4 per cent
- S&P 500 futures: up 0.5 per cent
- Nasdaq Composite futures: up 0.9 per cent
On Wednesday, the Wall Street indices settled on a mixed note, with the Dow Jones and the S&P 500 slipping 0.2-0.3 per cent and the technology stocks-heavy Nasdaq Composite rising 0.1 per cent at the close. That was the fourth straight weaker closing for S&P 500 — its longest negative run since mid-December.
According to minutes from the Federal Reserve's January 31-February 1 meeting, released on Wednsday, "almost all" Fed officials agreed to slow the pace of increases in interest rates to a quarter of a percentage point.
Stock Market Tips LIVE | Buy UPL shares, says Mehul Kothari
Mehul Kothari of Anand Rathi Shares & Stock Brokers suggests buying UPL shares for a target price of Rs 775 with a stop loss at Rs 730.
Stock Market LIVE Today | Ruchit Jain recommends buying Nifty50 futures in 17,520-17,500 range
Ruchit Jain of 5Paisa suggests going long on Nifty futures in the 17,520-17,500 band for a target of 17,650 with a stop loss at 17,450.
Stock Market Tips LIVE | Ruchit Jain recommends buying Hindustan Aeronautics, selling Jubilant FoodWorks shares
Ruchit Jain of 5Paisa shares two stock picks with Zee Business viewers:
- Buy HAL shares for a target of Rs 2,660 with a stop loss at Rs 2,470
- Sell Jubilant FoodWorks for a target of Rs 432 with a stop loss at Rs 460
Stock Market Today LIVE | ITC, TCS, Axis Bank, Reliance top boosts for Sensex; HDFC twins, Asian Paints pose maximum pressure
Share Market LIVE Today | ITC shares soar to record high of almost Rs 394
The stock of the cigarettes-to-hotels conglomerate gain by as much as Rs 10.1 or 2.6 per cent to a record Rs 393.9 apiece on BSE.
At noon, ITC shares are holding on close to the peak, at Rs 393.8 apiece, with huge volumes. As many as 7.9 lakh ITC shares have changed hands on BSE so far today, as against a daily average of 3.5 lakh in the past two weeks, according to exchange data.
Read more on ITC shares
Stock Market Tips LIVE | Astha Jain recommends buying Kirloskar Ferrous for targets up to Rs 440
Astha Jain of Hem Securities shares one stock pick with Zee Business viewers. She has a 'buy' call on Kirloskar Ferrous at Rs 410 for targets of Rs 434 and Rs 440 with a stop loss at Rs 390.
Gold Rate Today LIVE | MCX futures slide below Rs 56,000 per 10 grams mark
MCX near-month gold futures (April 5) are quoting lower by Rs 201 or 0.4 per cent at Rs 55,882 per 10 grams, having declined to as low as Rs 55,851 per 10 grams earlier in the day.
Sensex LIVE | ITC, Tata Steel, Tech Mahindra, TCS rise most among 20 gainers in 30-scrip basket
On the other hand, Asian Paints, IndusInd Bank, Titan, the HDFC twins and Larsen & Toubro are the top laggards.
Share Market Today LIVE | Delhivery shares rebound after worst day in a month
The stock of the Gurugram-based logistics company rises by as much as Rs 7.5 or 2.2 per cent to Rs 343.9 apiece on BSE, having suffered its worst single-day loss in a month the previous day.
