Markets recoups losses to close in green, NIFTY50 closes above 21,800, SENSEX gains more than 250 points; Stock Market Highlights

Thank you, readers! That's all from Upstox.com's live market coverage on 14 February 2024. We’ll be back with our live coverage at 8:00 am on Thursday.

The NIFTY Midcap 100 index (+1.0%) closed higher today. Meanwhile, NIFTY Smallcap 100 Index (+1.6%) closed in the green today.

The BANK NIFTY (+0.89%) index closed in the green. Gains in SBI, Axis Bank, Bank of Baroda, IndusInd Bank supported the index.

India’s benchmark indices – NIFTY50 (+0.4%) and SENSEX (+0.3%) – recoups early morning losses to end on a positive note. Out of the NIFTY50 space, 35 stocks are in the green. On the sectoral front, NIFTY PSU Bank (+3.2%) and Oil and Gas (+3.1%) indices were among top gainers.

Shares of KPI Green Energy hit a 5% upper circuit today after its Q3 net profit stood at ₹50.6 crore, up 46.7% YoY. Meanwhile, its revenue from operations rose 84.4% at ₹330 crore.

• Automaker Mahindra & Mahindra posted a smaller-than-expected rise in third-quarter profit on Wednesday as weak demand for its profit-boosting tractors offset strong sport utility vehicle (SUV) sales.

• Following the result announcement, shares of the company traded flat at ₹1,649 per share, with a day high of ₹1,679 per share.

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Indian markets got off to a shaky start today amid uptick in the US inflation in the January month. Annual retail inflation in the US stood at 3.1%, which was below the 3.4% witnessed in the previous month, but higher than the market forecast of 2.9%.

As a result, stocks of export-oriented sectors, including IT and pharma stock took a hit on 14 February as hopes of interest rate cuts in the US dimmed after hotter-than-expected inflation numbers.

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Shares of tech products distributor Rashi Peripherals Ltd listed at a nearly 9% premium on the National Stock Exchange of India (NSE) at ₹339.5 apiece compared to its IPO (initial public offering) price of ₹311.

On BSE, the stock got listed at ₹335 levels, up 7.7% over the IPO price. By 11:26 am, the share price had slipped further, trading at ₹329.45 apiece on NSE and ₹330 apiece on BSE.

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Shares of the real estate firm declined more than 3% intraday after the company reported weak quarterly results. Its consolidated Q3 net profit stood at ₹164.7 crore, increasing just 1.85% compared to corresponding period of last fiscal. Meanwhile, its revenue from operations dropped 22.5% YoY to ₹1,796 crore for the quarter.

Shares of Dilip Buildcon rose nearly 10% today after the authority issued a completion certificate for a bridge project completed by the company in Goa. The total cost of the project was ₹545 crore, which involved construction of a bridge across the Zuari river.