Sensex Ends 149 Points Lower, Nifty Settles Near 17,200; Coal India & Hindalco Top Losers

Mon, 21 Feb Closing

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Indian share markets witnessed volatile trading activity throughout the day today and ended lower.

Benchmark indices fluctuated between gains and losses as investors monitored geo-political tensions between Russia and Ukraine.

The day began with reports that Russian President Vladimir Putin and his US counterpart Joe Biden had agreed in principle to a summit over the Ukraine crisis, the Kremlin later said there were no concrete plans yet for a summit.

At the closing bell, the BSE Sensex stood lower by 149 points (down 0.3%).

Meanwhile, the NSE Nifty closed lower by 70 points (down 0.4%).

Wipro and Infosys were among the top gainers today.

Coal India and Hindalco, on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,207, down by 73 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended down by 0.8% and 2.2%, respectively.

Sectoral indices ended on a negative note with stocks in the oil & gas sector and metal sector witnessing most of the selling pressure.

Banking stocks, on the other hand, witnessed buying interest.

Shares of Linde India And Chalet Hotels hit their respective 52-week highs today.

Asian stock markets ended on a negative note today.

The Hang Seng and the Shanghai Composite ended down by 0.7% and 0.1%, respectively. The Nikkei ended down by 0.8% in today's session.

US stock futures are trading on a positive note today with the Dow Futures trading up by 42 points.

The rupee is trading at 74.50 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.1% at Rs 50,064 per 10 grams.

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In news from the telecom sector, Bharti Airtel was among the top buzzing stocks today.

Bharti Airtel today said that it has joined the SEA-ME-WE-6 undersea cable consortium to scale up its high speed global network capacity and serve India's fast growing digital economy.

The 19,200 km SEA-ME-WE-6 will connect Singapore and France, and will be amongst the largest undersea cable systems globally, the telco said in a statement.

Airtel is participating as a major investor in the SEA-ME-WE-6 and is anchoring 20% of the overall investment in the cable system, which will go live in 2025.

The 12 other consortium members of SEA-ME-WE-6 include Bangladesh Submarine Cable Company, Dhiraagu (Maldives), Djibouti Telecom, Mobily (Saudi Arabia), Orange (France), Singtel (Singapore), Sri Lanka Telecom, Telecom Egypt, Telekom Malaysia, Telin (Indonesia).

Through SEA-ME-WE-6, Airtel will add a significant amount of 100 terabits per second (TBps) capacity to its global network. Airtel said it has acquired one Fiber Pair on the main SEA-ME-WE-6 system and will co-build four Fiber Pairs between Singapore - Chennai - Mumbai as part of the cable system.

Airtel will land the SEA-ME-WE-6 cable system in India at new landing stations in Mumbai and Chennai.

SEA-ME-WE-6 will be fully integrated with Nxtra by Airtel's large Data Centers in Mumbai and Chennai to enable global hyperscalers and businesses to access seamless integrated solutions and strengthen India's position as an emerging data center hub in the region.

Bharti Airtel share price ended the day down by 0.3% on the BSE.

Moving on to news from the consumer durables sector...

Shares of Butterfly Gandhimati Appliances rose nearly 8.5% today after the company reported that Crompton Greaves Consumer Electricals is likely to buy out a controlling stake in the firm.

Crompton Greaves Consumer is looking to buy more than 50% stake in the consumer appliance company for Rs 14.5 bn, which is likely to trigger an open offer to public shareholders.

Currently, promoters of Butterfly Gandhimati hold 64.78% stake which is likely to become a minority holding once the deal goes through. Butterfly Gandhimati's market capitalisation currently stands at Rs 23.2 bn.

Butterfly Gandhimati had been on the lookout to raise funds worth Rs 5 bn to expand its products and services. Earlier, reports had said that Havells India was also interested in buying a majority stake in the consumer appliance maker.

The deal could be the largest in the consumer appliance space in a long time and points towards further consolidation as demand for home appliances spikes due to work from home triggered by the pandemic.

Butterfly Gandhimati share price ended the day up by 7.5% on the BSE.

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

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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

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Indian Share Market Update: Top Gainers and Losers