Stock Market News Live Updates: Due to the decline in tech stocks in America, there is weakness in the shares of Indian IT companies HCL Tech, Infosys, Tech Mahindra, Wipro and TCS. Nifty50 opened with a decline and is now trading in the green. Metal, Infra, Oil & Gas and Energy indices are up 1% each.
IT stocks are under pressure in the trading session of February 4
New Delhi. On February 3, due to the news of trade deal, there was a stormy rise in the stock market, but today a decline was seen in the market. Actually, due to heavy selling in IT shares, the stock market came down. Due to the fall in tech stocks in America, there is weakness in the shares of Indian IT companies HCL Tech, Infosys, Tech Mahindra, Wipro and TCS in the morning.
At the same time, Power Grid Corp, Tata Steel, Coal India, ONGC and NTPC were among the major profit making stocks in Nifty. The Nifty IT index fell by 5%, while the Metal, Infra, Oil & Gas and Energy indices gained 1% each. There was no significant change in Nifty Midcap and Smallcap indices.
Share Market Live: Sensex and Nifty closed with gains
On Wednesday, February 4, the stock market closed with gains. Sensex closed at 83,817.69 with a gain of 78.56 points, while Nifty closed at 25,776.00 with a gain of 48.45 points.
The Indian rupee is trading weak at 90.49 per dollar as against the previous closing price of 90.27.
Bajaj Finserv Q3 Results: Revenue increased 24% YoY to Rs 39,708 crore
Bajaj Finserv reported a consolidated net profit of Rs 2,229 crore for the December quarter, almost unchanged from Rs 2,231 crore in the same period last year. The profit after tax belongs to the shareholders of the company.
The company's total operational revenue stood at Rs 39,708 crore in Q3FY26, which is 24% higher than Rs 32,042 crore recorded in the same period last financial year.
Stock Market News Live: 1.28 million shares of Kotak Mahindra Bank traded in block deal
According to Bloomberg, Kotak Mahindra Bank shares were trading at Rs 411.75, down Rs 3.90 or 0.94 per cent. It made an intraday high of Rs 418.70 and low of Rs 411. It had volume of 2,453,598 shares, compared to its five-day average of 759,005 shares, which is 223.27 percent higher.
In the last trading session, the stock closed at Rs 415.65, up 1.83 per cent or Rs 7.45.
Share Market Live: NBCC India gets many orders
NBCC has received a construction order worth Rs 39.19 crore from the Institute of Cost Accountants of India (ICMAI) and an order worth Rs 232.13 crore from the Fisheries Department of Uttarakhand for the construction of the proposed Namami Ganga Aquarium-cum-Discovery Learning Center at Pashulok in Uttarakhand.
Stock Market News Live: Big fall in top IT stocks
India's top information technology companies have suffered a loss of more than Rs 2 lakh crore in market capitalization amid growing concerns over the impact of Artificial Intelligence. These concerns have been heightened after Anthropic launched new workplace productivity and automation tools.
The market cap of Tata Consultancy Services, India's largest software exporter, declined by about Rs 70,481 crore, the biggest loss among domestic IT companies. This was followed by Infosys, whose market value declined by more than Rs 54,000 crore, while HCL Technologies suffered a loss of about Rs 26,800 crore. On February 4, both Tech Mahindra and Wipro saw a decline of Rs 10,500 crore in market cap.
Share Market Live: Morgan Stanley gives 'overweight' rating to Varun Beverages
Morgan Stanley has given 'Overweight' rating to Varun Beverages. The brokerage firm has given its target price at Rs 522.
1. Management estimates double-digit volume growth in India on a weak CY25 base2. Volume-value gap widened due to higher discounting and increase in pack-size3. Discounting pressure is expected to ease from Q14. Sizing up has largely been completed, impact on profits limited due to variable cost structure5. Focus on maintaining EBITDA margins in India as well as improving international margins
Share Market Live Update: Adani Group shares rise
Mankind Pharma Reuslt: Company's consolidated profit and revenue jump in Q3
Profit stood at Rs 408.8 crore with a growth of 7.5 percent.
Revenue increased by 11.5 percent to Rs 3,567.2 crore.
Mankind Pharma shares were trading at Rs 2,082.35.
Stock Market News Live: These stocks including ONGC and Coal India are top gainers of Nifty50
Top gainers in Nifty50 include ONGC, Coal India, Power Grid, NTPC and M&M, while losers include 5 stocks including Infosys, TCS and Tech Mahindra. Buying dominated in 41 out of 50 stocks of Nifty, while selling dominated in 9 stocks.
Stock Market News Live: Good news for YES Bank, RBI approves appointment of CEO
Yes Bank shares are trading with a rise of 1.25 per cent today. This rise in shares has come due to a news. Actually, RBI has approved the appointment of Shri Vinay Muralidhar Tonse as Managing Director and CEO of Yes Bank for a period of 3 years, however, this is still subject to the approval of the shareholders.
Heavy Selloff in IT Shares: Huge fall in big IT shares including TCS, Infosys
Selling in IT shares can be gauged from the fact that TCS has fallen by 5%, Infosys by 6%, LTI Mindtree by 5.55%, HCL Tech by 4%, Tech Mahindra by 4.50%.