Stock Market Daily Updates

Stock Market Update: Auto and Pharma Stocks Shine, Oil & Gas Declines

Top Performers in the Market

Today’s market saw a significant rise in auto and pharma stocks, showcasing positive momentum. Meanwhile, the oil & gas sector experienced a decline in stock values.

Global Market Overview

Asian, American, and European markets displayed positive trends, with most indices in the green.

Top Gainers in NIFTY 50

1. Wipro: Rs 543.00, ▲ 4.73%
2. M&M: Rs 1,835.55, ▲ 3.99%
3. SBI Life: Rs 1,508.45, ▲ 3.79%
4. Adani Ports: Rs 1,306.85, ▲ 3.14%
5. L&T: Rs 3,386.75, ▲ 2.62%

Top Losers in NIFTY 50

1. Power Grid: Rs 274.55, ▼ 2.52%
2. ONGC: Rs 274.70, ▼ 0.94%
3. SBI: Rs 754.70, ▼ 0.92%
4. Britannia: Rs 4,913.70, ▼ 0.74%
5. Reliance: Rs 2,921.15, ▼ 0.68%

Market News Highlights

1. Defence Spending: The Defence Acquisition Council approved proposals worth Rs 84,560 cr to enhance the capabilities of armed forces and the Indian Coast Guard.
2. Flight Delays: Approximately 4.82 lakh passengers were affected by delayed flights in January 2024, according to DGCA data.
3. Anti-Dumping Investigation: India initiated an anti-dumping investigation into the imports of specific solar glass from China and Vietnam.
4. FCI Capital Increase: The government increased the authorized capital of the Food Corporation of India (FCI) from Rs 10,000 cr to Rs 21,000 cr to support food grain storage.
5. Tech Industry Job Growth: India’s tech industry is anticipated to create 60,000 new jobs in the financial year 2023-24, totaling 54.30 lakh employees.
6. LNG Imports: India’s Liquefied Natural Gas (LNG) imports rose by 26% year-on-year in January.
7. Akasa Air’s Expansion: Akasa Air plans to commence international operations from March-end.
8. NCLT Decision: The National Company Law Tribunal allowed rebidding for Rolta India Ltd.
9. Forex Reserves Decline: India’s foreign exchange reserves decreased by $5.24 billion to $617.23 billion for the week ending on 9 Feb.
10. Job Market Update: ESIC Records Significant Increase in Formal Employment
11. Formal job creation under the Employees’ State Insurance Corporation (ESIC) saw a notable uptick, rising by 18.2% month-on-month to reach 18.8 lakh in December 2023. This surge indicates a positive trend in formal employment generation, offering promising prospects for job seekers in various sectors.

Stocks in the Spotlight

1. SpiceJet: Promoter Ajay Singh and Busy Bee Airways submitted a joint bid to acquire GoFirst airline.
2. LIC: Received a tax refund of Rs 21,740.77 cr.
3. Bajaj Auto: Set 29 Feb as the record date for its Rs 4,000 cr share buyback.
4. Bandhan Bank: Acquired 12 offices for Rs 135.64 cr.
5. Vedanta: Finsider International sold a 1.8% stake in Vedanta for Rs 1,737 cr.
6. Paytm: RBI extended the deadline for Paytm Payment Bank customers for deposits and credit transactions until 15 March.

IPO Corner

Listing Discount: Entero Healthcare Solutions faced a listing discount of -2.3%.

Market Indicators

1. Precious Metals:

• Gold: Rs 61,715, ▲ 0.39%
• Silver: Rs 71,338, ▲ 1.02%

1. Currency Exchange:

• USD-INR: Rs 83.04/USD, ▼ 0.01%

1. International Indices:

• Dow Jones: 38,773.12, ▲ 0.91%
• Nasdaq: 15,906.17, ▲ 0.30%

Long-Term Returns

Past 20 Years:

• Sensex: ▲ 13.22% p.a.
• Nifty: ▲ 12.96% p.a.
• Dow Jones: ▲ 6.59% p.a.
• Nasdaq: ▲ 10.69% p.a.

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