Stock Market Live Updates: Asian stocks rise as Wall Street rally overshadows weak U.S. retail sales

tock Market Today | Share Market Live Updates – Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 16 February 2024.

• February 16, 2024 08:06
  

  Stock Market Live Today: India’s exports rise 3.12% in Jan despite Red Sea crisis, global slowdown

  The Red Sea disruptions and recessionary trends in the West notwithstanding, India’s goods exports inched upwards in January 2024, posting a 3.12 per cent growth (year-on-year) to $36.92 billion, propped by sectors such as electronics, engineering goods and pharmaceuticals.

• February 16, 2024 07:40
  

  Commodities Market Live Today: Launch of trade in Electronic Gold Receipt mired in GST tangle

  More than two years after it was first announced by the market regulator SEBI, the proposed trading in the country’s first spot physical gold exchange product, Electronic Gold Receipt, remains a non-starter due to taxation issues.

  EGRs are like depository gold receipts traded on the stock exchanges and held in demat accounts, just like shares.

• February 16, 2024 07:39
  

  Stock Market Live Today: Broker’s call: Sun TV (Buy)

  Sun TV Network’s EBITDA remained flat y-o-y at ₹570 crore (in line) with margins contracting 200bps y-o-y, dragged by higher operating expenses and soft revenue growth. Revenue grew 3.3 per cent y-o-y to ₹890 crore (in line), exhibiting some moderation. This is primarily attributed to weakened ad revenues, stemming from the impact of cricket World Cup.

• February 16, 2024 07:38
  

  Stock Market Live Today: Broker’s call: Eicher Motors (Buy)

  Eicher Motors’ (Eicher) Q3-FY2024 operating performance came in line with estimates, while its bottom line missed estimates due to lower-than-expected other income. Revenue increased by 1.6 per cent q-o-q to ₹4,179 crore (vs. estimate of ₹4,134 crore) because of a 2.1 per cent q-o-q increase in ASPs as volumes were down by 0.5 per cent q-o-q. EBITDA increased by 0.3 per cent q-o-q to ₹1,090 crore (vs. estimate of ₹1,098 crore).

• February 16, 2024 07:37
  

  Stock Market Live Today: Kotak Securities: Market overvalued across sectors, no sharp correction expected

  We find most sectors and stocks quite overvalued. The level of overvaluation increases in inverse order of (1) market cap., (2) quality and (3) risk. The market seems happy to overpay for weak business models in a few cases and unsustainably high profitability in others, which highlights high levels of exuberance (only greed) and low concerns about potential risks (no fear).

  Stocks are overvalued in general; some less, some more, some bizarre

  We find most sectors and stocks quite overvalued with the degree of overvaluation ranging from (1) low for most large-cap. consumer, IT services and pharmaceuticals to (2) medium in the investment space to (3) high in the case of several low-quality companies. It seems the market is happy to overpay for weak business models and superficial narratives without due consideration to fundamentals, risks and valuations. Among the larger sectors, the financial sector is the only exception with most stocks trading at reasonable valuations. 

  Nothing negative on the horizon to suggest a sharp correction though

  The large ‘disconnect’ between price and value may sustain, notwithstanding the rich valuations across sectors and stocks, if (1) the BJP was to win the forthcoming national elections in May, as is widely expected and (2) the market was to continue to ignore potential medium-term disruption risks. Also, (1) India’s reasonable macroeconomic situation (strong GDP growth, manageable BoP, fiscal and inflation); possible weak monsoons from El Nino conditions may further postpone consumption and rural recovery though and (2) a sluggish global outlook (lower inflation and interest rates) should provide some tailwind for the market.

  Consumption is struggling, investment is booming

  3QFY24 results showed the familiar trends of (1) weak consumption demand for staples and parts of discretionary sectors and (2) strong investment demand, especially for premium real estate. The dichotomy reflects continued challenges of low-income households (low income, high inflation) and decent financial condition of high-income households. We expect consumption demand to recover only gradually over the next 2-4 quarters. The low quality (in terms of value-add) of the bulk of new jobs may pose structural headwinds to a swift revival despite continued strong government and household investment. Certain manufactured exports (bearing, capital goods) declined sharply but we see this as a temporary blip linked to global factors, rather than a reversal of MNCs’ offshoring plans for India.

• February 16, 2024 07:35
  

  Stock Market Live Today: ₹72.18-cr IPO of Vibhor Steel Tubes gets bids worth ₹16,200 crore

  The ₹72.18 crore initial public offering (IPO) of Vibhor Steel Tubes has received bids worth ₹16,211.36 crore. The IPO, which closed on Thursday, saw an overwhelming response from all categories of investors and was subscribed 298.86 times.

  Vibhor Steel Tubes, which supplies its products to Jindal Pipes, received bids for 107.36 crore shares against 35.92 lakh shares on offer (net-off anchor position). The entire issue of the firm is a fresh issue that will go to the Haryana-based company.

  The steel pipes and tubes manufacturer came out with a price band of ₹141-151.

• February 16, 2024 07:34
  

  Stock Market Live Today: Stock to buy today: Aegis Logistics (₹425.50): BUY

  The short-term outlook is bullish. The stock has surged over 8 per cent on Thursday. This rise has taken the share price well above the key resistance level of ₹416. It also marks the resumption of the overall uptrend in this stock. Aegis Logistics share price can rise to ₹460 over the next two-three weeks.

• February 16, 2024 07:33
  

  Stock Market Live Today: Trading guide for February 16, 2024: Intraday supports, resistances for Nifty50 stocks

  Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS, and SBI

• February 16, 2024 07:20
  

  Stock Market Live Today: Dividend Dates: Ex-Dividend 16 February 2024 (Today)

  Saven Technologies Ltd.

  Dividend Per Share Rs.2 

  Previous day Closing Price – Rs. 70.68 

  Aarti Pharmalabs Ltd. 

  Dividend Per Share Rs.2 

  Previous day Closing Price – Rs. 507.05 

  Akzo Nobel India Limited. 

  Dividend Per Share Rs.50 

  Previous day Closing Price – Rs. 2803.15 

  Alkem Laboratories Ltd 

  Dividend Per Share Rs.35 

  Previous day Closing Price – Rs. 5236.3 

  Bajaj Consumer Care Ltd 

  Dividend Per Share Rs.3 

  Previous day Closing Price – Rs. 213.95 

  Banco Products (India) Ltd. 

  Dividend Per Share Rs.20 

  Previous day Closing Price – Rs. 686.25 

  Beml Ltd. 

  Dividend Per Share Rs.5 

  Previous day Closing Price – Rs. 3047.8 

  Computer Age Management Services Ltd 

  Dividend Per Share Rs.12 

  Previous day Closing Price – Rs. 2838.5 

  Dalmia Bharat Sugar And Industries Ltd 

  Dividend Per Share Rs.3.75 

  Previous day Closing Price – Rs. 394.95 

  Disa India Ltd. 

  Dividend Per Share Rs.100 

  Previous day Closing Price – Rs. 14965.05 

  Emami Ltd. 

  Dividend Per Share Rs.4 

  Previous day Closing Price – Rs. 464.8 

  Firstsource Solutions Ltd. 

  Dividend Per Share Rs.3.5 

  Previous day Closing Price – Rs. 199.4 

  IOL Chemicals & Pharmaceuticals Ltd. 

  Dividend Per Share Rs.5 

  Previous day Closing Price – Rs. 406.25 

  Ircon International Ltd 

  Dividend Per Share Rs.1.8 

  Previous day Closing Price – Rs. 222.7 

  J.B.Chemicals & Pharmaceuticals Ltd. 

  Dividend Per Share Rs.5.5 

  Previous day Closing Price – Rs. 1675.75 

  Jk Paper Ltd. 

  Dividend Per Share Rs.3.5 

  Previous day Closing Price – Rs. 382.75 

  Jk Tyre & Industries Ltd. 

  Dividend Per Share Rs.1 

  Previous day Closing Price – Rs. 490.5 

  Manappuram Finance Ltd. 

  Dividend Per Share Rs.0.9 

  Previous day Closing Price – Rs. 182.45 

  NLC India Ltd 

  Dividend Per Share Rs.1.5 

  Previous day Closing Price – Rs. 236.5 

  Oil And Natural Gas Corporation Ltd 

  Dividend Per Share Rs.4 

  Previous day Closing Price – Rs. 268.9 

  Orient Cement Ltd 

  Dividend Per Share Rs.0.75 

  Previous day Closing Price – Rs. 256.85 

  Page Industries Ltd. 

  Dividend Per Share Rs.100 

  Previous day Closing Price – Rs. 36041.25 

  Shivalik Bimetal Controls Ltd. 

  Dividend Per Share Rs.0.7 

  Previous day Closing Price – Rs. 543.25 

  Siyaram Silk Mills Ltd. 

  Dividend Per Share Rs.3 

  Previous day Closing Price – Rs. 509.25 

  Sundaram Finance Ltd. 

  Dividend Per Share Rs.14 

  Previous day Closing Price – Rs. 3699.05 

  Torrent Power Ltd. 

  Dividend Per Share Rs.12 

  Previous day Closing Price – Rs. 1130.2 

  Triveni Turbine Ltd. 

  Special Dividend Per Share Rs.1 

  Dividend Per Share Rs.1.3 

  Previous day Closing Price – Rs. 437.8 

  Vidhi Specialty Food Ingredients Ltd. 

  Dividend Per Share Rs.0.6 

  Previous day Closing Price – Rs. 425.75

• February 16, 2024 07:18
  

  Stock Market Live Today: Max Financial Services issues clarification on allegations regarding Max Life Insurance shares transaction

  Max Financial Services issued a clarification regarding a plea alleging Axis Bank and group companies of profiting from the purchase and sale of equity shares of its material subsidiary, Max Life Insurance Company. The company stated that the highlighted share transactions were conducted after obtaining appropriate approvals from regulators such as the RBI, IRDAI, and CCI, where applicable. Max Financial Services expressed confidence that there were no legal or regulatory anomalies in the transactions, and they would take all necessary legal steps to defend the matter in court.

• February 16, 2024 07:16
  

  Stock Market Live Today: Tejas Networks gets Rs 27.78 crore incentives under PLI in FY23

  Tejas Networks: Company has received 277.8 million rupees as incentives for the fiscal year 2022-23 under the PLI (Production-Linked Incentive) scheme for telecom and networking products.

• February 16, 2024 07:14
  

  Stock Market Live Today: Shaily Engineering Plastics: Company expects 2-3 times increase in the healthcare segment revenue in 3-5 years.

• February 16, 2024 07:13
  

  Stock Market Live Today: Fitch downgrades UPL to ‘BB+’; outlook negative

• February 16, 2024 07:12
  

  Stock Market Live Today: Key market data as of 15/02/24

  📌 Market Levels

  BSE Sensex: 72050.38 (+227.55)

  Nifty 50: 21910.75 (+70.70)

  NIFTY MID CAP 100: 48821.90 (+490.00)

  NIFTY SMALL CAP 100: 16105.20 (+209.15)

  📌 Index PE & PBV

  SENSEX PE / PBV : 24.66 / 3.66

  NIFTY 50 PE / PBV : 

  22.62 / 3.84

  NIFTY MIDCAP 100 PE / PBV : 25.38 / 3.91

  NIFTY SMALLCAP 100 PE / PBV : 29.23 / 3.97

  📌 Inflow/Outflow*the *(Daily/MTD) 

  FII / FPI Activity: (3064.15 crs) / (14171.17 Crs)

  DII Activity: 2276.93 crs / 15822.01 crs

  📌 Volatility Index

  India VIX – 15.22

  📌 Commodities

  Brent Crude: $81.48

  Gold USD Oz/10 gm: $1998.06 = INR 61486

  Silver: INR 69429

  📌 Currency

  Rs/$: 83.04

  US Dollar Index (DXY) – 104.56

  📌 10 Year Yield

  7.26% GOI 2033: 7.11% (Old)

  7.18% GOI 2033: 7.09% (New)

  US 10 Yr Yield – 4.23%

• February 16, 2024 07:08
  

  Stock Market Live Today: Today’s Pick: February 16, 2024

  Here’s an interesting stock idea: The recommendation we have for you today is Aegis Logistics

• February 16, 2024 07:06
  

  Stock Market Live Today: Securities in Ban For Trade Date 16-FEB-2024 

  1 ABFRL 

  2 ASHOKLEY 

  3 BALRAMCHIN

  5 BIOCON

  6 CANBK 

  7 DELTACORP 

  8 HINDCOPPER 

  9 INDIACEM 

  10 INDUSTOWER 

  11 SAIL 

  12 ZEEL

• February 16, 2024 07:04
  

  Stock Market Live Today: Yes Bank: Morgan Stanley Asia bought 306,305,668 (1.06%) shares @ 27.1

• February 16, 2024 07:04
  

  Stock Market Live Today: Sudarshan Chemical: HDFC Mutual Fund bought 1,775,551 (2.56%) shares @ Rs 513.99

• February 16, 2024 07:02
  

  Stock Market Live Today: Asian stocks start the day positively tracking Wall Street’s upward trend

  Asian stocks started the day on a positive note on Friday, following the upward trend on Wall Street. Despite disappointing U.S. retail sales data, investors remained optimistic. In early trading, Japan’s Nikkei 225 rose by 1.75% to 38,827.16, and the broader Topix index climbed 1.28% to 2,625.14. South Korea’s KOSPI increased by 0.56% to 2,628.48, while Australia’s S&P/ASX 200 gained 0.38% to 7,634.40.

  On Thursday, U.S. stocks closed higher despite the retail sales drop of 0.8% in January, which was more than expected. The S&P 500 rose by 0.58% to 5,029.67, the Nasdaq Composite increased by 0.30% to 15,906.17, and the Dow Jones Industrial Average climbed 0.91% to 38,774.73. The retail sales decline, primarily from auto dealerships and gasoline stations, did not deter investors who were less concerned about the earlier inflation data that had caused a temporary dip in the market.