Bajaj Auto, HCL Technologies, Eicher Motors, M&M, and Coal India were the top gainers in the Nifty 50. Meanwhile, IndusInd Bank, HDFC Bank, Kotak Bank, BPCL, and Hero MotoCorp were major losers in the Nifty 50 on February 22.

The indices Sensex, Nifty, and Nifty Midcap 100 climbed back to trade in green after starting the day on a negative note. The BSE Sensex was up nearly 600 points, NSE Nifty 50 was up 170 points, and Nifty Midcap 100 advanced 500 points.

Shares of HCL Technologies rose 2.7% to Rs 1,681.75. The company was the top gainer in the Nifty 50. The company touched the 52-week high of Rs 1,696.50 on February 15.

Eicher Motors, HCL Technologies, Coal India, Bajaj Auto, and Hindalco were the top gainers in the Nifty 50. On the flip side, IndusInd Bank, BPCL, Kotak Mahindra Bank, Hero MotoCorp, and Titan were the key losers in the Nifty 50 on February 22.

Shares of Eicher Motors rose 2.5% to Rs 3,932.95. The stock was the top gainer in the Nifty 50.

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In Thursday’s morning trade, shares of sugar companies witnessed a downturn of up to 3% following the government’s announcement of an increase in the minimum price mills must pay to sugarcane growers for the 2024-25 season starting in October.

Rana Sugars’ scrip experienced a significant drop of 3.21%, reaching Rs 25.35 apiece. Mawana Sugars saw a slump of 2.81% at Rs 101.70, while Rajshree Sugars & Chemicals tumbled 2.50% to Rs 72.62. Shree Renuka Sugars declined by 2.41%, settling at Rs 48.50. KCP Sugar & Industries and EID Parry (India) also registered declines of 2.20% (Rs 40.87) and 1.57% (Rs 629.20), respectively, on the BSE.

Additionally, Dalmia Bharat Sugar and Industries experienced a 1.15% decline, reaching Rs 403.15 per share. Balrampur Chinni Mills fell by 1.12% to Rs 376.50, Dhampur Sugar Mills recorded a 0.96% decrease to Rs 248, and Triveni Engineering and Industries slipped 0.76% to Rs 347.80 on the bourse.

Commenting on the bullion market Rahul Kalantri, VP Commodities at Mehta Equities said that, Gold and silver experienced a dip following the release of the FOMC meeting minutes on Wednesday, as the tone of Federal Reserve members was slightly more hawkish than anticipated. The Fed remains cautious about rising inflation and seeks further progress towards achieving its 2% target before considering easing measures. However, the outcomes of the FOMC meeting minutes aligned with market expectations, yielding no significant surprises. Come from Sports betting site

“The steady trading of the dollar index tempered gains in precious metals, yet geopolitical tensions in the Middle East and volatility in global financial markets could lend support to gold and silver prices at lower levels. Gold has support levels at $2012-1998 and resistance at $2039-2051, while silver has support at $22.74-21.61 and resistance at $23.08-23.22. In terms of INR, gold finds support at Rs61,940-61,770 with resistance at Rs62,350 and Rs62,520. Silver’s support lies at Rs70,040-69,580, with resistance at Rs71,050 and Rs71,780,” added Kalantri.

JK Cement shares gains 0.50% at Rs 4,271, on the news that JK Cement’s board has greenlit modifications in the acquisition terms with Toshali Cements. Under the revised terms, JK Cement is set to pay Rs 10.75 crore to acquire a 100% equity stake from the existing promoters of Toshali Cements.

The share of NBCC to gains over 5% to Rs 146.15 in the intra-day trade on the following news that NBCC has received in-principal approval from the Greater Noida Authority for the development of unused and purchasable floor area ratios in continuation of existing Amrapali projects, valued at Rs 10,000 crore.

Shares of Brigade Enterprises experienced a decline of over 2%, reaching Rs 985.25 in intra-day trade on Thursday, following the news that Brigade Enterprises and PVP Ventures entered into a joint development agreement. The agreement pertains to a high-rise residential project in Chennai spanning 2.5 million square feet, with an anticipated revenue potential of approximately Rs 2,000 crore. Furthermore, a 45-year lease agreement has been executed for a resort on East Coast Road in Chennai.

Shares of IndusInd Bank fell 3.5% to Rs 1,463.50. The stock was the major laggard in the Nifty 50.

Larsen and Toubro Ltd’s Buildings & Factories construction vertical has clinched an order for the construction of multi-storeyed residential towers in Thane, Mumbai. The project includes five towers, each soaring 62 floors, along with associated parking areas. On the BSE, the company’s shares witnessed a 0.24% increase, reaching Rs 3,304.

Commenting on the Nifty’s technical outlook, Anand James, Chief Market Strategist at Geojit Financial Services says that, the 22,250 region proved stiff yet again, and the turn lower thereof found enough momentum to test the 22,000 vicinity, only to see bargain hunting surfacing again. While this was encouraging towards an early return to the 22,450-550 trajectory, we feel that the trend is evenly poised with several ifs and buts and hence is not as directional as was seen at the start of the week. Push above 22,131 could however signal strength.

Eicher Motors, HCL Technologies, Coal India, Hindalco, Bajaj-Auto are the top gainers on NSE Nifty 50, whereas IndusInd Bank, Grasim, Titan company, Bharti Airtel, and BPCL are the top losers on NSE Nifty 50.

The NSE Nifty 50 trade lower by 0.41% 21,964.30, while the BSE Sensex plunges 0.41% to 72,322.80.

South Indian Bank shares surged by over 7%, reaching Rs 34.80, following the announcement that the bank is set to undertake a rights issue of Rs 1,151 crore. The issue involves offering 52 crore shares at Rs 22 per share, with the subscription period opening on March 6 and closing on March 20. The rights issue follows a ratio of 1 share for every 4 shares held.

Commenting on the derivative outlook Anand James, Chief Market Strategist, Geojit Financial Services says that Nifty weekly contract has highest open interest at 22500 for Calls and 21500 for Puts while monthly contracts have highest open interest at 23000 for Calls and 22000 for Puts. Highest new OI addition was seen at 22200 for Calls and 21500 for Puts in weekly and at 22200 for Calls and 22200 for Puts in monthly contracts. FIIs increased their future index long position holdings by 8.23%, increased future index shorts by 1.46% and in index options by 19.09% decrease in Call longs, 32.17% decrease in Call short, 30.82% decrease in Put longs and 41.04% decrease in Put shorts.

The shares of Eureka Forbes dipped by over 3% to an intra-day low of Rs 498 following the news that Eureka Forbes’ promoter, Lunolux, intends to divest up to a 12% stake in the company for Rs 1,148.7 crore through block deals. This strategic move is aimed at attracting new investors and bolstering the company’s market position.

Commenting on the USD-INR outlook Anand James, Chief Market Strategist, Geojit Financial Services said, slow but continued slippage since the start of the week has left USDINR without strength to bounce back despite near 82.9. We lie in wait for a break of 82.78-83.1 region for further directional cues.

In Thursday’s intra-day trade, Axis Bank shares rose by more than 1% to reach Rs 1095. The upswing was fueled by the news that Moody’s affirmed Axis Bank’s Baa3 long-term deposit ratings, maintaining a stable outlook. Moody’s underscored India’s favorable operating environment as an opportunity for the bank to enhance its market position.

Space stocks jump up to 7% after government approves 100% FDI. Stocks such as MTAR Technologies experienced a 7.19% surge in today’s intraday trade. Likewise, shares of Apollo Micro Systems, Walchandnagar Industries, Paras Defence and Space Technologies, Data Patterns (India), Bharat Electronics, Centum Electronics, and Zen Technologies are presently trading with gains ranging from 1% to 4%.

In Thursday’s intra-day trade, Zee Entertainment shares witnessed a gain of over 2%, reaching Rs 168.10. This increase is attributed to the news that Zee Entertainment Enterprise might receive a show cause notice from SEBI next month regarding a fund diversion case. The market regulator is actively scrutinizing the situation to ensure transparency and compliance with regulatory norms.

Axis Bank, Eicher Motors, Apollo Hospitals, HCL Technologies, and Tech Mahindra are the top gainers on NSE Nifty 50 index.

MTAR Tech shares surged by over 5%, reaching an intraday high of Rs 2041 on Thursday. This significant uptick follows the news that the government has granted approval for 100% Foreign Direct Investment (FDI) in space-related stocks.