NIFTY50 and SENSEX close lower on Budget day; Stock Market Highlights

Shares of Hester Bioscience declined nearly 3% intraday after the company’s Q3 net profit declined 64% YoY to ₹40 crore, while its revenue from operations stood at ₹670 crore, down 11% YoY. Meanwhile, EBITDA was down 46% YoY at ₹101 crore.

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The NIFTY Midcap 100 index (-0.6%) closed lower today. Meanwhile, NIFTY Smallcap 100 Index (+0.6%) closed in the green today.

The NIFTY Financial Services (+0.09%) index closed flat today, with SBI Life (+2.3%) and ICICI Pru Life (+2.2) being the top gainers, while Chola Finance (-3.9%) and Shriram Finance (-3.1%) being the top losers.

The BANK NIFTY (+0.4%) index closed in the green. Gains in Axis Bank (+1.6%), SBI (+1.2%) and Bank of Baroda (+3.6%) supported the index.

India’s benchmark indices – NIFTY50 (-0.1%) and Sensex (-0.1%) – closed lower on the Interim Budget day. Out of the NIFTY50 space, 31 stocks declined. Weakness in L&T, Bharti Airtel and Bajaj Finance pushed the markets lower.

Adani Enterprises reported a more than two-fold jump in third-quarter profit on Thursday, helped by strong performance in its coal trading and new energy divisions. Click here to read more.

India’s largest coal mining company’s production was up 9% year-on-year to 78.4 million tonnes (MT).

In the same period, the offtake also increased 4.8% to 67.6 MT.

• Long build up: Tata Consumer, Maruti Suzuki, Power Grid, SBI Life and SBI

• Short build up: Larsen & Toubro, ONGC, Asian Paints, Ultratech and UPL

The Reserve Bank of India (RBI) has ordered the payments bank subsidiary of Paytm to stop accepting fresh deposits in its accounts or popular wallets from March, in a major blow to one of the country's largest payments firms. Click here to read more.