Sensex, Nifty trade flat amid volatility; Godfrey Phillips, M&M active

The Indian stock market moved up and down on Monday, with Sensex and Nifty staying almost the same. The Sensex lost 136.88 points and ended at 75,802.33, while the Nifty 50 dropped 27.15 points to close at 22,902.10. But the Nifty Bank index went up a little, gaining 28.80 points to end at 49,128.25.

Some big companies did well, while others did not. The companies that made good profits were IndusInd Bank, Power Grid Corporation, Shriram Finance, Adani Enterprises, and Bajaj Finserv. But some companies lost value, including Mahindra & Mahindra (M&M), Bharti Airtel, Wipro, Bharat Electronics, and Infosys.

Different business sectors also had mixed results. The auto, FMCG, IT, capital goods, and media industries all fell by 0.5%. But the pharma sector performed well and grew by 1% because many people bought medicine company shares.

Power Grid Corporation was the best-performing company of the day, rising by 2.23% to ₹263.10. The worst-performing company was M&M, which fell 4.03% to ₹2,823.95. The pharma sector was the strongest, rising 1.15%, while the auto sector saw the biggest fall, dropping 0.79%.

The Nifty Media index also went down nearly 1%. Some media companies saw losses, including Dish TV, which dropped 3.4% to ₹7.10, Saregama India, which fell 2.65% to ₹473.85, Hathway Cable, which went down 2.51% to ₹13.59, and PVR INOX, which dropped 1.21% to ₹1,005.95. Zee Entertainment also fell slightly to ₹96.40.

In the IPO market, Quality Power Electrical Equipments' public issue was taken up 0.79 times on its second day. Large investors bought 0.62 times, while smaller investors took 1.04 times. Retail investors also showed interest, buying 0.92 times. This IPO opened on February 14 and will close on February 18.

Meanwhile, the BSE Consumer Durables index, which had been falling for five days, finally showed some improvement. The best-performing company was Aditya Birla Fashion, which went up 3.11% to ₹255.25. Kalyan Jewellers followed closely, rising 3.02% to ₹502.45. Havells India gained 1.83% to ₹1,527.10, while Voltas increased 1.5% to ₹1,231.60.

Stock experts gave their opinions on different companies. CLSA still expects SAMIL to do well but lowered its price target from ₹190 to ₹167. Citi said that Indian stocks could rise by 14% because the economy is improving. Citi believes lower taxes, falling interest rates, and more government spending are helping businesses grow. It recommended buying stocks like HDFC Bank, Kotak Mahindra Bank, Maruti Suzuki, Endurance Technologies, HDFC Life, Torrent Pharma, and Makemytrip. Citi is hopeful about banking, telecom, and healthcare stocks but less confident about IT, metals, and luxury products.

In company news, Cochin Shipyard signed a deal with A.P. Moller-Maersk to work together on ship repair, maintenance, and shipbuilding in India. This partnership is expected to help the Indian ship industry grow and create new jobs.

LTIMindtree announced a new partnership with Eurobank to improve banking technology. This will help make banking services faster and more modern.

RDB Real Estate will have a meeting on February 24 to discuss ways to raise money for future projects.

The stock market remained mixed, with some stocks rising and others falling. Investors are keeping an eye on world events, company earnings, and new government rules before making big decisions. The next few days will be important in deciding the direction of the market.

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