Market gains for fourth straight day, NIFTY 50 closes above 22,000, SENSEX gains nearly 400 points; Stock Market Highlights

Thank you, readers! That's all from Upstox.com's live market coverage on 16 February 2024. We’ll be back with our live coverage at 8:00 am on Monday.

The NIFTY Financial Services (+0.2%) index closed higher today, with SBI Life and HDFC AMC being the top gainers, while REC Ltd and PFC were the top losers.

The BANK NIFTY (+0.3%) index closed in the green. Gains in ICICI Bank, Federal Bank, IndusInd Bank supported the index.

Indian benchmark indices – NIFTY 50 (+0.5%) and SENSEX (+0.5%) – closed in green for fourth consecutive day. Out of the NIFTY50 space, 38 stocks closed in the green. Gains in Auto stocks supported the market.

Mumbai based real estate developer Oberoi Realty enters into agreement with luxury hospitality brand Marriott International to develop two Marriott properties in Oberoi realty’s existing projects in Thane and Borivali.

To know more click here

The Nifty Auto Index gained as much as 2.66% on Friday extending the rally for a second straight day. The top gainers of Nifty Auto were Mahindra and Mahindra, Bajaj Auto, TVS Motors, Maruti Suzuki and Tata Motors.

To read more about NIFTY Auto gain, Click here

• Shares of pharma major gained over 1.5% intraday after the company received final USFDA approval for isosorbide mononitrate tablets. These tablets are used to prevent chest pain (angina) in patients with a certain heart condition (coronary artery disease).

• The company will manufacture this drug at its formulation manufacturing facility at Ahmedabad. Meanwhile, the US annual sales for this drug is $47 million.

• Shares of Marine Electricals (India) hit a 5% upper circuit after the company secured multiple orders worth ₹104.2 crore.

• The first order comes from TATA Projects Limited for LT Panel for Micron Technology (Project Pioneer), Sanand. The Delivery shall be over a period of 6 Months.

• Another order is from Fleet Maintenance Unit (FMU), Visakhapatnam for AIAMC. The delivery shall be over a period of 24 Months.

• Long build up: Wipro, SBI Life, Maruti, Bajaj Auto

• Short build up: Reliance, Axis Bank, NTPC, Bharti Airtel, Bajaj Finance

Vibhor Steel Tubes' initial public offer (IPO) closed with a bumper subscription on Thursday. The public issue was subscribed 299 times on the third and final day of subscription on February 15.

Click here to read more on allotment status