Sensex Today: Stock Market Highlights Today: Nifty forms bearish candle on daily chart; here’s what it signals for

!1 New UpdateClick here for latest updates

Lead(ing) Multibagger

Shares of Gravita India, a metal recycling company, rose more than a per cent in a weak market after it announced that its “Refined Lead” of 99.98 per cent purity and above from its Chittoor plant was been empanelled as approved lead brands deliverable against MCX Lead futures contract.The MCX empanelment will provide us an additional platform for hedging, better inventory management and price transparency in the domestic market, the company said.Gravita India is a leading multinational recycling company having three recycling verticals lead, aluminium and plastic.The stock is tracked by just one analyst who is bullish on the counter. The analyst believes the stock will hit Rs 380. The stock has jumped 400 per cent so far in the last one year.

Zomato sees buying for another day

Buying that started in Zomato after it hit an all time low continued for another day on Thursday as investors preferred to accumulate the counter at low levels.The stock was under heavy selling pressure for some time, wording over half of the value from its all time high hit in November. Its December quarter earnings gave some glimpse of improving business for the firm but the outlook for the stock still did not improve.On Thursday, the stock rose another 5 per cent to Rs 89.25.

Tech View: Nifty in consolidation phase; key moving averages pose hurdle to upside

Nifty50 on Thursday fell for the second day in a row and formed a bearish candle on the daily chart, as it continued to face selling pressure near its 20-day and 50-day moving averages. The ongoing consolidation may continue for some more time, before Nifty50 sees a breakout, analysts said.

India to sort out issues for inclusion of bonds in global bond indices: Sitharaman

India’s finance minister on Thursday said that the government will sort out issues relating to inclusion of the country’s bonds in global bond indices, a move that could pave way for attracting foreign investors to India’s growing debt market.

MARKET DATA

FIIs sold shares worth Rs 1242 crore
DIIs net bought shares worth Rs 901 crore

Gold climbs Rs 513; silver jumps Rs 190

Gold prices in the national capital on Thursday rallied Rs 513 to Rs 49,738 per 10 grams, reflecting overnight gains in international precious metal prices, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 49,225 per 10 grams. Silver zoomed by Rs 190 to Rs 63,222 per kg, from Rs 63,032 per kg in the previous trade.

High attrition has not affected project deliveries: Infosys CEO (Source: Informist)

LIVE | Watch Union Minister of Power Raj K Singh announce the Green Hydrogen Policy

LIVE | Watch Union Minister of Power @RajKSinghIndia announce the Green Hydrogen Policy @MinOfPower #Greenhydrogen https://t.co/tsysA6BX0W

— ET NOW (@ETNOWlive) 1645099106000

How to approach this market?

We are just mirroring global counterparts and seeing reaction on updates around the Russia-Ukraine crisis. Since there’s no clear indication over the next directional move yet, participants should stay light and prefer hedged approach.

— Ajit Mishra, VP – Research, Religare Broking

Equity markets have seen rise in volatility in the last couple of days due to varying news flows coming in from Ukraine border. Nifty has been trading in a broader range of 16,800-17,400 and needs a decisive breakout on either side for clear direction. For now, investors will have to navigate their way through the Ukraine crisis and rate hike environment to stay on course.

– Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services

Nifty continues to remain volatile being highly affected by Russia-Ukraine crises. Trading in current scenario is not recommended. We recommend to sit on cash and buy quality stocks at every dip. Investors will get many opportunities to buy quality stocks at at dips in coming days. Traders are also advised to consider the volatility and keep strict stop-loss to their positions.

– Rahul Sharma – Equity 99

Domestic equities struggled to maintain stability given the uncertainties surrounding the geopolitical tensions between Russia and Ukraine. US futures declined following the release of the FOMC meeting minutes, where the Fed officials outlined plans for an interest rate hike and said that the unwind of the bond portfolio could be aggressive. Continued FII selling in the domestic market instilled cautiousness in investors.

– Vinod Nair, Head of Research at Geojit Financial Services

Top 5 gainers & losers from today’s trade

Price as on 17 Feb, 2022 03:42 PM, Click on company names for their live prices.

Nifty FMCG only sectoral gainer today

Sensex Heatmap | Only 8 of 30 stocks close in the green

Nifty ends highly volatile session above 17,300 level

CLOSING BELL: Sensex slips for 2nd day, drops 105 pts; Nifty holds 17,300; Axis, ICICI Bank fall 2% each

India needs nothing but a platform for the ease of doing biz: Rakesh Jhunjhunwala

Hinduja flagship Ashok Leyland is eyeing a strong comeback in the commercial vehicle segment this year as it looks to consolidate its position in the intermediate commercial vehicle (ICV) segment and reap benefits of enhanced demand for its modular AVTR range, as per a top company official.

Price as on 17 Feb, 2022 03:19 PM, Click on company names for their live prices.

Nifty Today: Top index gainers & losers in late afternoon trade

Most pharma stocks in the red

Price as on 17 Feb, 2022 03:04 PM, Click on company names for their live prices.

Strong earnings boost European shares amid Ukraine concerns

European shares rose on Thursday as a slew of strong earnings from companies such as Airbus, Kering and Commerzbank lifted risk appetite, helping offset investor concerns over fresh tensions surrounding Ukraine.

The pan-European STOXX 600 index gained 0.2% by 0813 GMT. France’s CAC 40 added 0.6%, Germany’s DAX climbed 0.3%, while UK’s FTSE 100 slipped 0.2%.

Banking sector outlook revised to ‘improving’ for FY23: Ind-Ra

India Ratings and Research (Ind-Ra) has revised its outlook on the banking sector to ‘improving’ from ‘stable’ for 2022-23, helped by better credit demand and strong balance sheet of lenders.

For next fiscal year, the agency expects credit growth to pick up to 10 per cent and sees gross non-performing asset (GNPA) ratio at 6.1 per cent.

“We have revised the outlook on the overall banking sector to improving for FY23 from stable, as the banking system’s health is at its best in decades. The improving health trend that began in FY20 is likely to continue into FY23,” the agency said.

Top 10 losers on NSE

Price as on 17 Feb, 2022 02:23 PM, Click on company names for their live prices.

Investor losses in Paytm, Nykaa, PB & Zomato mount to Rs 1.3L cr since Day 1

Investor patience is being put on test, as earnings misses, supposedly rich valuations and a sharp fall in technology stocks globally sent shares of a few new-age companies tumbling on Dalal Street. The sentiment is so fragile that four companies, namely One 97 Communications (Paytm), FSN E-Commerce (Nykaa), Zomato and PB Fintech (Policybazaar), who together commanded Rs 3.58 lakh crore in market value on Day 1 of their listings, have eroded Rs 1.30 lakh crore worth of investor wealth so far. This is even as a few brokerages find the recent selloff unwarranted.

Stocks at 52-week high

Price as on 17 Feb, 2022 01:45 PM, Click on company names for their live prices.

STOCK IN FOCUS: HUL

#StocksToWatch | #FMCG major #HindustanUnilever has raised prices of certain products by 3-10% in February, accordi… https://t.co/U3cekmc1mY

— ET NOW (@ETNOWlive) 1645083341000

Anupam Finserv stock locked in 5% upper circuit as Board of Directors to meet on Saturday to consider and approve allotment of 10,512,500 Bonus Equity Shares

RITES, IIT-Madras sign MoU for marine infra works

RITES Limited and the Indian Institute of Technology, Madras (IIT-M) have entered into a memorandum of understanding (MoU) to cooperate and explore marine infrastructure works.

Punjab & Sind Bank to offer, issue, create and allot equity shares up to Rs 4600 crore (including share premium) to the govt by way of preferential issue of equity shares.

Price as on 17 Feb, 2022 12:55 PM, Click on company names for their live prices.

Sensex Today: Volatility continues to rule indices

IN FOCUS: Telecom stocks

#Telecom | @TRAI December 2021 subscriber data: Overall industry lost 1,28,79,114 subscribers. Check out the finepr… https://t.co/Cvs463vJ2m

— ET NOW (@ETNOWlive) 1645081500000

Live market update: Top 10 gainers in early afternoon session

Price as on 17 Feb, 2022 12:35 PM, Click on company names for their live prices.

Income Tax department conducting raids on former NSE MD Chitra Ramakrishna

Ramkrishna was the managing director and CEO of the NSE from April 1, 2013 to December 2, 2016. She has been accused of leaking sensitive information to an invisible Baba. As per Ramkrishna, the baba was dwelling in Himalayan ranges, guided her on personal and professional matters for 20 years.

Ramkrishna was ousted from NSE in 2016 for her role in the co-location and algo trading scam and abuse of power.

Ramkrishna has refused to reveal the identity of the unknown person and sought to claim that the unknown person is a spiritual force, the regulator has noted.

Q4 EARNINGS: NESTLE INDIA

Revenue: Rs 3706.2 cr vs Rs 34,17.5 cr YoY
PAT: Rs 386.6 cr vs Rs 483.3 cr YoY
The Board of Directors have recommended a final dividend for 2021 of Rs 65 per equity share

JP Morgan overweight on Tata Motors, sees over 30% upside

JPMorgan has initiated coverage on Tata Motors with an ‘overweight’ rating, as it believes the automaker has demonstrated a commitment to deleverage its balance sheet.

While suggesting a target of Rs 660 on the stock (up 32 per cent over the last close of Rs 498.20), JPMorgan said the JLR owner can achieve its zero net debt target. The brokerage added that the automaker has seen improvement in product mix and right-sizing of cost and investments in JLR.