Sensex, Nifty Trade Flat as Banking Stocks Witness Selling; Axis Bank & ICICI Bank Top Losers

Thu, 17 Feb 10:30 am

   Previous Close   

   Pre-Open   

   Closing   

Asian share markets are mixed today as investors try to assess the situation in the Russia-Ukraine crisis while awaiting an idea about the Federal Reserve's plan to raise interest rates.

The Nikkei is down 1% while the Hang Seng fell 0.7%. The Shanghai Composite is bucking the trend and is up 0.4%.

In US stock markets, Wall Street indices bounced off session lows on Wednesday after the US Federal Reserve released meeting minutes said that while the central bank intends to begin raising interest rates to combat inflation, its decisions would be made on a meeting-by-meeting basis.

The Dow Jones ended 0.2% lower while the Nasdaq eased 0.1%.

Back home, Indian share markets opened on a positive note following the trend on SGX Nifty. Benchmark indices started in green as Russia-Ukraine conflict concerns eased.

Today' session may see some volatility on account of the weekly F&O expiry while investors also take into account the January Fed meeting minutes.

The results season is almost over it seems. Today, market participants are keenly watching Nestle India, and Ambuja Cements as they will announce their December quarter results.

The BSE Sensex is trading down by 129 points. Meanwhile, the NSE Nifty is trading lower by 14 points.

Power Grid and Reliance are among the top gainers today. Axis Bank, on the other hand, is among the top losers today.

The BSE Mid Cap index is up 0.2%. The BSE Small Cap index is trading lower by 0.1%.

Sectoral indices are trading mixed with stocks in the power sector, automobile sector and energy sector witnessing buying.

Banking stocks and finance stocks, on the other hand, are trading in red.

Shares of Blue Star and RHI Magnesita hit their 52-week highs today.

The rupee is trading at 75.13 against the US$.

Crude oil prices slid more than 2% today after both France and Iran said parties are closer to an agreement to salvage Iran's 2015 nuclear deal with world powers, offsetting ongoing concerns over the situation in Ukraine.

Gold prices are trading up by 0.5% at Rs 49,853 per 10 grams.

Meanwhile, silver prices are trading up by 0.2% at Rs 63,407 per kg.

Gold is up today, trading near an eight-month high touched earlier this week, as the US dollar and Treasury yields dipped on less hawkish-than-feared Federal Reserve minutes.

The Ukraine crisis also boosted demand for the safe-haven metal.

In the previous session, gold edged higher after NATO and US said Russia was increasing its troop build-up near Ukraine.

Speaking of stock markets, Research Analyst at Equitymaster Brijesh Bhatia explains how you should navigate the volatile trends in the market, in his latest video for Fast Profits Daily.

In the video below, Brijesh shows a very simple but effective trading tool which is a proven technique and been around for about 100 years.

In news from the automobile sector, Tata Motors is among the top buzzing stocks today.

Tata Motors' passenger vehicle (PV) business is on a dream run, outpacing the rest of the industry in sales growth and on course to post its first profit before interest and depreciation in a decade this fiscal year.

After posting the highest annual sales in the company's history in the calendar year 2021, Tata Motors is eyeing a record January-March period with sales of 125,000 vehicles, as per projections.

If the projected production is achieved, it will take sales for the fiscal year ending March 2022 to 370,000 units, a 65% increase from fiscal 2021.

An improvement in semiconductor supplies, which rose about 10% from the past quarter, is aiding the bullish outlook.

The auto major is far from done it seems. For the next fiscal year, Tata Motors is targeting half a million units, encouraged by strong bookings. In fact, the company has asked component suppliers to be ready for a volume of up to 600,000 units, or production of 50,000 units a month.

Tata Motors has reportedly added a second production line at its Pune plant and entered into an agreement with partner Fiat India to secure higher output of cars from its Ranjangaon plant.

Tata Motors had overtaken Hyundai Motor India in the sales of SUVs in the December quarter, due to a shortage of parts at the South Korean rival's Indian operations. Now, it may overtake Hyundai for the entire financial year if meets its production and sales targets.

The Tata group company surely has ambitious plans for the future and its strategy is working in its favour as of now. Its financials in fiscal 2021 were much better than what it reported in fiscal 2020. The company reported higher EBITDA margins and positive free cash flow even though revenue declined.

Tata Motors share price is currently trading up by 1.7%.

Speaking of Tata Motors, Research Analyst at Equitymaster, Aditya Vora record a video comparing Tata Motors with Maruti Suzuki, back in December 2021.

You can check it out here: Will TATA Motors overtake Maruti in 2022?

Moving on to news from the telecom sector, Tata Sons will infuse an additional Rs 24.2 bn in its loss-making unlisted subsidiary, Tata Teleservices, which will use the cash to pay off its lenders before March.

Tata Teleservices will have to pay Rs 15.3 bn to banks by February end and another tranche of Rs 8.9 bn by 11 March.

Tata Sons will raise the cash by participating in the Rs 180-bn mega buyback announced by Tata Consultancy Services (TCS). Along with its group company, Tata Investment Corporation, Tata sons will raise around Rs 129.9 bn by selling their TCS shares.

Note that Tata Teleservices has remained a cash drain for Tata Sons despite the group selling the cellular telephony business to Bharti Airtel. The group has already repaid Rs 600 bn of Tata Teleservices loans and dues to the Indian government.

Tata Teleservices and its listed subsidiary, Tata Teleservices (Maharashtra), were slapped with adjusted gross revenues (AGR) dues after the Supreme Court ordered all telecom companies to pay their past dues to the government based on the AGR.

We will keep you updated on the latest developments from this space. Stay tuned.

Speaking of Tata Teleservices, note that its listed subsidiary Tata Teleservices Maharashtra has had a dream run on the bourses. Have a look at the chart below:

Shares of the company were up a massive 680% between November 2020 - November 2021. Although the gains have come down recently.

To know more, check out the latest shareholding pattern of Tata Teleservices.

And 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!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers