Stock Market HIGHLIGHTS: Sensex ends 251 pts lower, Nifty below 17,800 dragged by financial, IT shares; all Adani stocks drop
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 extended losses to a second straight day on Monday amid losses across most sectors amid largely negative global cues as concerns persisted about the prospect of more of aggressive hikes in benchmark interest rates.
Catch highlights of all the action in the stock market, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, financial results, brokerage calls, investment ideas, stock recommendations and much more here on Zeebiz.com's blog:
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 extended losses to a second straight day on Monday amid losses across most sectors amid largely negative global cues as concerns persisted about the prospect of more of aggressive hikes in benchmark interest rates.
Catch highlights of all the action in the stock market, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, financial results, brokerage calls, investment ideas, stock recommendations and much more here on Zeebiz.com's blog:
Latest Updates
Thank you! That's all today on Zeebiz.com's stock market blog
For all other news related to business, politics, tech, sports and auto, follow us on Twitter, Facebook, LinkedIn and Instagram.
Stock Market Update | Sensex ends 251 pts lower at 60,432, Nifty50 at 17,771
Both headline indices finish the day around half a per cent lower. The 30-scrip index loses 250.9 points to end at 60,431.8 and the Nifty50 settles at 17,770.9, down 85.6 points from its previous close.
Here's how the main gauges moved through the day:
Sensex
Nifty50
Godrej Industries shares spike after strong Q3 results
Bharat Forge pick of the week: Rakesh Bansal
Rakesh Bansal of Rakesh Bansal Ventures has Bharat Forge as his stock pick of the week. He suggests a 'buy' on the stock for a target price of Rs 915 with a stop loss at Rs 860.
Stock Market LIVE Update | Sanjiv Bhasin recommends buying Godrej Properties future
In an interaction with Zee Business Managing Editor Anil Singhvi, Sanjiv Bhasin of IIFL Securities suggests investors to buy Godrej Properties futures for a target of Rs 1,225 with a stop loss at Rs 1,158.
SAIL Q3 | Net profit likely to fall 78% to Rs 313 crore, margin may shrink by 600 bps
According to Zee Business research, state-run steelmaker SAIL is likely to report a net profit of Rs 313 crore for the quarter ended December 2022, as against Rs 1,443 crore for the corresponding period a year ago.
Its revenue is estimated to come in at Rs 25,404 crore for the three-month period, as against Rs 25,246 crore for the year-ago period, according to the research.
The analysts peg SAIL's margin to contract by 600 bps on a year-on-year basis to eight per cent, with an EBITDA of Rs 4,625 per tonne.
Stock Market LIVE Update | SAIL shares under pressure ahead of steelmaker's Q3 results today
SAIL shares fall by as much as Re 1.3 or 1.5 per cent to Rs 83.3 apiece on BSE, ahead of the state-run steelmaker's financial results due later in the day.
Stock Market LIVE Update | PB Fintech shares buck the market trend, hold on firmly to the green
The stock of PB Fintech — which owns the Paisabazaar and Policybazaar platforms — gain by as much as Rs 21.3 or 4.1 per cent to Rs 545.3 apiece on BSE.
Zee Business Managing Editor Anil Singhvi points out that PB Fintech staged an improvement in its operational performance in the quarter ended December 2022, but also says that the stock has already run up ahead of earnings.
Share Market LIVE Update | SBI, Infosys, Bajaj Finance, Mahindra & Mahindra, TCS top Sensex laggards
Only seven stocks in the 30-scrip basket manage to hold on to the green: Titan, Larsen & Toubro, Bharti Airtel, NTPC, PowerGrid, Tata Steel and ITC.
Stock Market LIVE Update | All Adani group stocks in the red; Ambuja, Adani Trans, Adani Power, Adani Wilmar among stocks locked in lower circuit
Here's how the Adani group fares on Dalal Street at this hour:
| Stock | Change (%) | CMP |
| NDTV | -5 | 198.3 |
| Adani Power | -5 | 156.1 |
| Adani Transmission | -5 | 1,126.9 |
| Adani Green | -5 | 687.8 |
| Adani Total Gas | -5 | 1,195.4 |
| Adani Wilmar | -5 | 414.3 |
| Ambuja | -5 | 343 |
| Adani Enterprises | -3.9 | 1,776 |
| ACC | -3.7 | 1,812.1 |
| Adani Ports | -2.5 | 569.1 |
Stock Market Tips LIVE | Sneha Seth recommends buying FLD, Larsen & Toubro shares
Sneha Seth of Angel One shares two stock picks with Zee Business viewers:
- Buy the Rs 360 call option of DLF for a target of Rs 17 with a stop loss at Rs 5.7
- Buy L&T for a target of Rs 2,278 with a stop loss at Rs 2,160
Naukri shares nosedive after JPMorgan, Goldman Sachs, Nomura cut targets by Rs 20-300
The stock of Info Edge (Naukri) plunges by as much as Rs 370.7 or 9.7 per cent to Rs 3,440.3 apiece on BSE. Here's what brokerages recommend on Naukri shares:
| Brokerage | Rating | Target price |
| CLSA | Underperform | Rs 4,000 |
| JPMorgan | Overweight | Reduced to Rs 5,300 from Rs 5,600 |
| Goldman Sachs | Sell | Reduced to Rs 3,250 from Rs 3,270 |
| Nomura | Buy | Reduced to Rs 4,940 from Rs 5,020 |
Check out the complete list of brokerage recommendations for Feb 13
Infosys, TCS, SBI, Reliance top drags on Sensex
Stock Market LIVE Update | Infosys, TCS, SBI, Reliance, HDFC twins weigh on Nifty50
Here's what the heatmap looks like:
Stock Market LIVE Update | Sensex slides over 450 pts from day's high, Nifty50 cracks below 17,750 amid broad-based selling
The Sensex drops as much as 451.1 points from the strongest level of the day as all sectors on Dalal Street sink into the red, with financial and IT shares are the forefront of the slide. The 30-scrip index rose to as high as 60,741 earlier in the day.
The Nifty50 sinks to as low as 17,735.2, having risen to as high as 17,880.7 earlier in the day.
Here's how the headline indices' intraday charts are building up so far today:
Sensex
Nifty50
