NIFTY50 and SENSEX close flat, Paytm soars 10%; Stock Market LIVE Highlights

Thank you, readers! That's all from Upstox.com's live market coverage on 7 February 2024. We’ll be back with our live coverage at 8:00 am on Wednesday.

The NIFTY Midcap 100 index (+0.7%) closed higher today. Meanwhile, NIFTY Smallcap 100 Index (+0.7%) closed in the green today.

The NIFTY Financial Services (+0.3%) index closed higher today, with SBI (+4.1%) and PFC (+3.2) being the top gainers, while IEX (-4.9%) and HDFC Bank (-0.9%) being the top losers.

The BANK NIFTY (+0.4%) index closed in the green. Gains in SBI (+4.1%), Axis Bank (+1.9%) and Kotak Bank (+0.7%) propelled the index higher.

India’s benchmark indices – NIFTY50 (+0.01%) and SENSEX (-0.05%) – pared their initial gains and closed flat today. Out of the NIFTY50 space, 29 stocks advanced. Meanwhile, Paytm shares hit upper circuit as the CEO reportedly met RBI officials and finance minister to resolve the regulatory issues.

Shares of the casino company surged 11% today.

This comes after reports claimed that the Indian government could soften its stance on retrospective goods and services tax.

South Korea's Hyundai Motor Co said on Wednesday that the listing of its Indian unit has not been decided and it will comment on the matter when the plan becomes finalised or within a month.

“As a global company, we constantly review various measures, including listing overseas subsidiaries, to increase corporate value, but nothing has been decided,” Hyundai Motor said in a regulatory filing.

Reuters reported on Tuesday that Hyundai Motor is planning to list its Indian unit to raise at least $3 billion in what would be the country's biggest IPO.

(The story is published from Reuters without any major changes)

• Long build up: Hindalco, Sun Pharma, Tata Steel, Maruti and SBI Life

• Short build up: Power Grid, HCL Tech, Dr Reddy, ONGC and Apollo Hospitals

Indian retailer and hypermarket operator Trent reported a more-than-two-fold jump in third-quarter profit on Wednesday, driven by robust demand during the festive period.

Click here to read more.

Shares of the apparel retailer are up more than 8% today.

This comes after the company reported a 52% year-on-year rise in its revenue to ₹3,521 crore.

In the same period, the company’s profit before tax was up 113% to ₹447 crore.