Market snaps 2-day losing run, NIFTY50 at 22,198, SENSEX gains 305 points

Benchmark indices – NIFTY50 (+0.3%) and SENSEX (+0.4%) – closed in green on Tuesday, 27 February, 2024. Gains in Tata Motors, TCS and IndusInd Bank supported the bourses.

The 30-share BSE SENSEX was up 305 points to settle at 73,095. The NSE NIFTY50 also rose 76 points to close at 22,198. Meanwhile, the market breadth was almost evenly split. Out of the NIFTY50 universe, 28 stocks advanced.

On the sectoral front, Realty (+1.0%) and IT (+0.7%) were the top gainers. On the other hand, Oil & Gas (-0.7%) and Media (-0.6%) were the top losers.

The BANK NIFTY closed marginally high (0.02%), with Federal Bank and IndusInd Bank being the top gainers. The NIFTY Financial Services (0.3%) index also closed high, supported by ICICI Lombard General Insurance and HDFC Life.

On the stocks front, shares of Paytm closed in red (-0.27%) a day after Vijay Shekhar Sharma stepped down as non-executive chairman and board member of Paytm Payments Bank.

Zydus Lifesciences said that its ₹600 crore share buyback will open on 29 February and close on 6 March. Zydus Life's board agreed to repurchase 59.7 lakh equity shares, representing 0.59% of the company's total paid-up equity capital via the tender offer route. The shares will be repurchased at a price of ₹1,005 a piece.

Adani Green also informed in a regulatory filing that it plans to raise $409 million via senior secured notes with a door-to-door tenor of 18 years.