SENSEX, NIFTY50 snap three-day losing streak led by HDFC Bank, Reliance Industries

The Indian equity benchmarks snapped their three-day losing streak on Monday, February 16, led by gains in index heavyweights like HDFC Bank, Reliance Industries, Axis Bank, Bharti Airtel, power Grid, ITC and State Bank of India. The SENSEX rose as much as 1,057 points from the day's lowest level and NIFTY50 index touched an intraday high of 25,697 after hitting low of 25,373.

The SENSEX ended 650 points higher at 83,277 and NIFTY50 index advanced 212 points to close at 25,683.

Asian markets ended after data from Japan showed that its economy grew 0.1% annualised in the December quarter, far below the 1.6% gain that was expected as the government spending dragged on activity.

The disappointing figures underline the tough task ahead for Prime Minister Sanae Takaichi and should support her push for more aggressive fiscal stimulus, news agency Reuters reported.

Japan's Nikkei declined 0.46% and Hong Kong's Hang Seng advanced 0.52%.

Markets in China are closed for a week on account of Chinese New Year.

Back home, thirteen of 15 sector gauges compiled by the National Stock Exchange (NSE) ended higher led by the NIFTY PSU Bank index's 1.5% gain. NIFTY Bank, Private Bank, Pharma, Metal, FMCG, Financial Services, Consumer Durables and Oil & Gas indices also rose between 0.65%-1.3%.

On the flipside, auto and media stocks witnessed selling pressure.

Broader markets were ended on a mixed note as NIFTY Midcap 100 index advanced 0.5% while NIFTY Smallcap 100 index rose 0.1%.

Among the individual shares, GMR Airports surged as much as 7.87% to hit an intraday high of ₹101.40 after it tuned profitable in December quarter. On the BSE, GMR Airports shares climbed nearly 8% amid spike in trading activity.

GMR Airports post market hours on Friday reported a standalone net profit of ₹50 crore in the third quarter of current financial year compared with a loss of ₹133 crore in the previous quarter and a loss of ₹49 crore in the year-ago period.

Natco Pharma climbed as much as 10.95% to hit an intraday high of ₹914 after the company on Saturday announced that it has received approval from Central Drugs Standard Control Organisation (CDSCO) for Semaglutide in India.

"Natco Pharma("NATCO") received approval for Semaglutide from CDSCO to manufacture and market generic Semaglutide Injection in India. NATCO will launch the product in the India market in March’26," the Hyderabad-based drug maker said in a regulatory filing.

Semaglutide is indicated for the treatment of adults with insufficiently controlled type 2 diabetes mellitus as an adjunct to diet and exercise.

Power Grid was top gainer in the NIFTY50 index, the stock advanced 4.74% to close at ₹300.80. Coal India, HDFC Bank, Adani Enterprises, Max Healthcare, Axis Bank, Shriram Finance and Cipla also rose between 1.8%-3.3%.

On the other hand, Tech Mahindra, Bajaj Finance, Maruti Suzuki, Tata Motors PV, Eicher Motors, Mahindra & Mahindra, Bajaj Auto, Trent and Jio Financial Services were top losers in the NIFTY50 index.

The overall market breadth was negative as 1,343 shares ended higher while 1,827 closed lower on the NSE.