Sensex Today Trades Higher | Nifty Above 21,950 | Glenmark Pharma & Bank of India Rises 4%

Fri, 16 Feb 10:30 am

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Asian stocks rose Friday, tracking Wall Street gains, with the S&P 500 notching a fresh record high.

Shares in Australia, Japan and South Korea and futures for Hong Kong all advanced. The Nikkei index is trading 0.9% higher, while Hang Seng was trading 0.4% higher.

US stocks ended trading session in positive territory, after clawing back the steep losses suffered earlier in the week.

Here's a table showing how US stocks performed on Thursday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	143.94	-3.2	-2.17%	144.76	141.88	155.2	88.86
Apple	183.86	-0.29	-0.16%	184.49	181.35	199.62	143.9
Meta	484.03	10.75	2.27%	488.62	472.22	488.62	167.66
Tesla	200.45	11.74	6.22%	200.88	188.86	299.29	152.37
Netflix	593.46	14.13	2.44%	593.77	580.32	593.77	285.33
Amazon	169.8	-1.18	-0.69%	171.17	167.59	175.39	88.12
Microsoft	406.56	-2.93	-0.72%	409.13	404.29	420.82	245.61
Dow Jones	38773.12	348.85	0.91%	38781.89	38397.94	38927.08	31429.82
Nasdaq	17845.72	38.09	0.21%	17864.59	17722.31	18041.45	11695.41

Source: Equitymaster

At present, the BSE Sensex is trading 188 points higher and NSE Nifty is trading 66 points higher.

Bajaj Auto, BPCL and Cipla are among the top gainers today.

ONGC, ITC and Axis Bank on the other hand are among the top losers today.

Broader markets are trading on positive note. The BSE Mid is trading 0.5% higher and the BSE Small Cap index is trading 0.7% higher.

Sectoral indices are trading mixed, with socks in healthcare sector and auto sector witnessing buying. Meanwhile stocks in power sector and FMCG sector witnessed selling pressure.

The rupee is trading at Rs 83.02 against the US dollar.

In commodity markets, gold prices are trading flat at Rs 61,609 per 10 grams today.

Meanwhile, silver prices are trading 0.2% lower at Rs 71,260 per 1 kg.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, Tata Motors has now gone past Maruti Suzuki to emerge as India's most valuable auto manufacturer.

From a loss of Rs 287 bn in FY19, perhaps its highest ever, Tata Motors has earned record profits of Rs 157 bn in the trailing twelve-month period. And it is this turnaround that has led to investors warming up to the stock and turning it into a 12-bagger since its March 20 lows.

However, when it comes to fundamental parameters like profitability, return ratios and balance sheet strength, Maruti is comfortably ahead of Tata Motors.

Why is it then Tata Motors enjoys nearly the same valuation as Maruti? Why is Mr Market considering Tata Motors at par with Maruti?

Co-head of Research, Rahul Shah answers this in below video.

BPCL to Set up Green Hydrogen Plant

State-run Bharat Petroleum Corporation has signed a memorandum of understanding (MoU) with Cochin International Airport Ltd (CIAL) to establish an integrated green hydrogen plant and a fuelling station within the premises of Kochi Airport.

Under the agreement, BPCL would oversee the establishment of the green hydrogen plant and fuelling station at Kochi Airport, providing technology and managing operations. The initial plant output will be harnessed to power vehicles within the airport.

BPCL clarified that the initiative is a pilot project aimed at gaining experience in managing hydrogen for the automobile sector. The pilot project, with an approximate capital investment of Rs 25 crore, involved discussions with Cochin International Airport (CIAL).

The oil marketing company added that the collaboration marks the establishment of India's first fuel station with green hydrogen in Southern India.

BPCL has outperformed the market by giving a 74% return in the last year.

Oil demand in India is expected to double by 2045. And this OMC stock has a competitive advantage compared to its listed peers. For more, check out Best OMC Stock: BPCL vs HPCL.

Indigo to minimise Mumbai Airport Cancellations

IndiGo is in talks with the government to reduce cancellations to and from Mumbai airport.

This comes after the Union Civil Aviation Ministry on 12 February said that flight restrictions have been imposed at the Mumbai airport to ease congestion, caused by various factors, including non-scheduled flight operations during peak hours.

The airport is operated by Mumbai International Airport.

The ministry said the airport operator should have proactively taken steps to streamline and regulate the air traffic movements to address the congestion issue.

However, since no such action was initiated by the airport operator, the ministry said it has had to step in.

While Mumbai airport is running at its full capacity, the ministry said it was found that the persistent congestion was caused due to excessive slot distribution with limited time margins on behalf of the airport operator, non-adherence of the slots on behalf of the airlines, and non-scheduled operations during peak hours.

On 2 January, the Airport Authority of India (AAI), being the air navigation service provider, issued directives to the airport operator to restrict air traffic movements during the HIRO (High-Intensity Runway Operations) period from 46 to 44 per hour.

The ministry noted that the action has been taken in larger public interest from the perspective of airspace safety, efficiency of operations and passenger satisfaction.

According to the statement, Mumbai Airport suffers from congestion and excess capacity on its runways, which inadvertently leads to air space congestion, whereby flights are forced to hover over the city for a long duration of around 40-60 minutes.

Further, the statement said the government realises that it needs to step in to strike a balance between the needs of both the airport operators and airlines while ensuring that passengers have a fulfilling experience while flying from Mumbai airport.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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