NIFTY50 closes at 22,196, SENSEX gains 349 points, HDFC Bank surges 2.5%; Stock Market LIVE Updates

Thank you, readers! That's all from Upstox.com's live market coverage on 20 February 2024. We’ll be back with our live coverage at 8:00 am on Wednesday.

The NIFTY Financial Services (+1.2%) index closed higher today, with HDFC Bank and Axis Bank being the top gainers, while Chola Finance and Muthoot Finance were the top losers.

The BANK NIFTY (+1.2%) index closed in the green. Gains in HDFC Bank, Axis Bank, Kotak Bank supported the index.

India’s benchmark indices – NIFTY50 (+0.3%) and SENSEX (+0.4%) – closed higher today, extending gains for the sixth consecutive day. Out of the NIFTY50 space, 27 stocks closed in the green. Gains in heavyweight stocks like HDFC Bank, Axis Bank, Power Grid, Kotak Bank supported the index.

• Sun Pharmaceutical has entered into an agreement with US-based Surgimatix to acquire 16.33 % shares of the company for $3.05 million.

• Surgimatix is engaged in the business of developing a proprietary soft tissue fixation device for laparoscopic hernia repair and other minimally invasive surgeries.

• Following the announcement, Sun Pharma shares rose 0.5%, with a day high of 1,538 per share.

India’s benchmark indices – NIFTY50 (+0.09%) and SENSEX (+0.09%) – trading in green amid volatility. Out of the NIFTY50 space, 26 stocks are declining. On the sectoral front, NIFTY Media and Realty are top gainers, while NIFTY IT and Auto are down today.

• Shares of Zaggle Prepaid Ocean Services rose more than 13% intraday, hitting a 52-week high of ₹298.85 per share. This comes after the company entered into agreement with Ease My Trip to offer integrated travel & expense management solutions to corporate clients.

• This agreement will be for three years. As part of the deal, Zaggle & EaseMyTrip will leverage its existing corporate base to sell integrated travel & expense management solutions to corporate clients.

• Long build up: Power Grid, NTPC, Axis Bank, Kotak Bank, Apollo Hospital

• Short build up: Hero MotoCorp, Bajaj Auto, Eicher Motors, TCS, Cipla

Shares of Waaree RTL jumped more than 5% to ₹4650 per share after the company secured a new order for construction of a solar plant for 980 MW.

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New Delhi-based Vibhor Steel Tubes Ltd made a stellar debut on stock exchanges on Tuesday, February 20. Shares of the steel tubes manufacturer and exporter are listed at a premium of around 180% on exchanges, making it one of the best IPO listings of 2024 so far.

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