Stock Market Report: IT and Auto Stocks Lead Gains, Nikkei Hits Record High
Top Performers
Table of Contents
Yesterday, the stock market saw a significant surge, with IT and auto stocks leading the gains. Notably, Japan’s Nikkei index also reached its all-time high since 1989, marking a remarkable milestone in the Asian market.
Gainers
Among the top gainers in the NIFTY 50 index were:
- Bajaj Auto: The stock rose by 3.23% to Rs 8,498.45.
- HCL Tech: It showed a notable increase of 3.06%, reaching Rs 1,686.40.
- Eicher Motors: With a rise of 3.00%, it reached Rs 3,951.40.
- Coal India: The stock surged by 2.82% to Rs 445.15.
- ITC: It saw an increase of 2.75%, reaching Rs 414.45.
Top Losers
However, some stocks faced losses:
- IndusInd Bank: It experienced a decline of 1.85% to Rs 1,489.15.
- HDFC Bank: Showing a decrease of 1.36%, it reached Rs 1,419.55.
- Kotak Mahindra: The stock fell by 1.22% to Rs 1,724.75.
- BPCL: It saw a decrease of 1.15%, reaching Rs 625.90.
- Hero Moto: The stock experienced a decline of 0.88% to Rs 4,495.15.
Market Highlights
Several significant developments impacted the market sentiment:
- Crude Oil Imports: India’s crude oil imports surged to 21.39 million metric tons in January, marking the highest in 21 months.
- FDI Allowance: The Indian government has permitted 100% Foreign Direct Investment (FDI) for satellite component manufacturing companies.
- Telecom Sector: Jio added 39.94 lakh subscribers in December, while Airtel added 18.5 lakh. However, Vodafone Idea and BSNL faced losses in subscribers.
- Agricultural Sector: The fair and remunerative price of sugarcane has been increased by 8% for the upcoming 2024–25 season.
- Mining Output: India’s mineral output witnessed a 5.1% increase in December compared to the previous year.
Corporate Announcements
Several companies made noteworthy announcements:
- Grasim: Launched its paints brand ‘Birla Opus’.
- IRB Infra: Planning to raise Rs 4,556.2 crore through foreign currency-denominated notes.
- Olectra Greentech: Secured a Rs 4,000 crore order from Mumbai’s Brihanmumbai Electric Supply and Transport.
- Vodafone-Idea (Vi): Scheduled a board meeting on 27th February to consider fundraising options.
IPO Corner
In the IPO segment:
- Juniper Hotels: Subscribed 0.23 times, with a retail subscription of 0.87 times.
- GPT Healthcare: Subscribed 0.37 times, with a retail subscription of 0.66 times.
Market Indices
In the international market:
- Gold: Decreased by 0.14% to Rs 62,142.
- Silver: Witnessed a decline of 0.38% to Rs 70,890.
- USD-INR: Showed a decrease of 0.15% to Rs 82.85 per USD.
- Dow Jones: Experienced a slight increase, reaching 38,612.24.
- Nasdaq: Witnessed a decrease, reaching 15,580.87.
Long-Term Returns
Over the past 20 years:
- Sensex (India): Recorded an annualized growth of 13.61%.
- Nifty (India): Showed an annualized growth of 13.36%.
- Dow Jones (USA): Demonstrated an annualized growth of 6.67%.
- Nasdaq (USA): Exhibited an annualized growth of 10.79%.
These developments reflect the dynamic nature of the stock market, influenced by both domestic and international factors, providing investors with various opportunities and challenges.
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