NIFTY50 and SENSEX close lower, Paytm tanks 10%, Tata Motors zooms around 6%; Stock Market Highlights

The NIFTY Financial Services (+0.3%) index closed higher today, with Bajaj Finserv and ICICI Bank being the top gainers, while HDFC AMC and LIC Housing Finance were the top losers.

Nestle India reported a nearly 16% rise in fourth-quarter profit before a one-time charge on steady urban demand for its products including its Nescafé range of coffees and KitKat chocolates. Click here to read more.

India's key policy rates will likely be held steady on Thursday for a sixth straight meeting but investors are keenly watching to see if moderating core inflation and a fiscally prudent budget allows policymakers to signal a turn in the cycle.

To read full story, click here

Thank you, readers! That's all from Upstox.com's live market coverage on 5 February 2024. We’ll be back with our live coverage at 8:00 am on Tuesday.

The NIFTY Midcap 100 index (-0.1%) closed lower today. Meanwhile, NIFTY Smallcap 100 Index (+0.2%) closed in the green today.

The NIFTY Financial Services (-0.5%) index closed lower today, with PFC (+2.0%) and ICICI Lombard (+1.4) being the top gainers and Bajaj Finance (-3.2%) and HDFC Life (-2.6%) being the top losers.

The BANK NIFTY (-0.3%) index closed in the red. Weakness in Kotak Bank (-1.0%), SBI (-1.0%) and Axis Bank (-0.7%) dragged down the index.

India’s benchmark indices – NIFTY 50 (-0.4%) and SENSEX (-0.4%) – close lower. Out of the NIFTY50 space, 33 stocks declined. Weakness in Reliance Industries, Bharti Airtel and Bajaj Finance weighed on the markets. Meanwhile, Paytm continued to face selling pressure after the RBI clampdown. On the other hand, Tata Motors shares hit record levels, on the back of strong Q3 numbers.

Shares of the low-cost carrier are up around 2% and were trading close to their 52-week high earlier today.

This comes after on Friday, the airlines reported strong growth in its profit, driven by robust passenger traffic.

However, experts warn that once Air India’s large fleet becomes operational, the profitability of Interglobe Aviation could come under pressure.