Aurobindo Pharma has obtained USFDA approval to manufacture and market Deflazacort Tablets, a treatment for Duchenne muscular dystrophy. Shares were up by 1.10% at Rs 1012.95 in the intra-day trade on Monday.

“Indian Rupee traded on a flat note with minor gains on softness in the US Dollar and easing crude oil prices. However, weak domestic markets and FII outflows capped sharp gains. US Dollar softened on consolidation ahead of US inflation report. We expect Rupee to trade with a slight positive bias positive global equities and a slight correction in the greenback. However, any bounce back in crude oil prices amid ongoing geopolitical tensions in the Middle East and selling pressure from foreign investors may weigh on Rupee at higher levels. Traders may take cues from India’s CPI and IIP data. Headline inflation is expected to ease to 5.09% from 5.69%. Investors may remain vigilant ahead of US inflation data on Tuesday. USDINR spot price is expected to trade in a range of Rs 82.80 to Rs 83.20,” said Anuj Choudhary Research Analyst, Sharekhan by BNP Paribas.

Bharat Forge shares plunges 10% to Rs 1,182.65 hits a lower circuit on the intra-day trade as company’s chairman and MD B.N. Kalyani said that “Looking ahead in the Q4 & further into FY25, we expect the growth momentum to moderate in both Domestic & Export market across industries. Our endeavor will be to outperform the market driven by our diversified business mix.”

“Nifty weekly contract has highest open interest at 22000 for Calls and 21500 for Puts while monthly contracts have highest open interest at 23000 for Calls and 21000 for Puts. Highest new OI addition was seen at 22700 for Calls and 21500 for Puts in weekly and at 22100 for Calls and 21500 for Puts in monthly contracts. FIIs decreased their future index long position holdings by -0.99%, increased future index shorts by 6.84% and in index options by 22.30% increase in Call longs, 10.70% increase in Call short, 27.66% increase in Put longs and 7.82% increase in Put shorts,” said Anand James, Chief Market Strategist, Geojit Financial Services.

“With an issue price of Rs 6,263 per gram, the subscription of the 4th tranche of Sovereign Gold Bond launched today is expected to garner major traction. Both household as well as institutional investors are increasingly getting attracted towards this asset class owing to the plethora of benefits that come along with lucrative returns. As the Indian economy resiliently navigate through choppy waters, investments in SGB tranche is one of the safest harbors for the investors which they can hedge against the headwinds. With India traditionally inclined towards gold for domestic investments, we foresee the behavioral shift in buyers towards SGBs for investment-driven purpose, thus positioning physical gold as lifestyle statement for adornment purpose,” said *Colin Shah, MD, Kama Jewelry.

The sectoral-indices smallcap and midcap fell the most among their peers today. The Nifty Smallcap 100 fell over 3% to 15,738.30. While the Nifty Midcap 100 fell nearly 2% to 47,924.15.

HCL Technologies, Wipro, Dr Reddy’s Lab, Apollo Hospital, and Divi’s Lab were the top gainers in the Nifty 50. While Hero MotoCorp, Coal India, BPCL, ONGC, and Kotak Mahindra Bank were the major losers in the Nifty 50 today.

Following an active week in the primary market, the current week is expected to provide a moment of relief, with attention focused on the initiation of  eight IPOs – one on the mainboard and seven in the SME segment.

Despite the apparent lull, the financial landscape is poised for a surge in listings, as five IPOs are slated for the mainboard segment. Notably, the preceding week witnessed the opening and subsequent closure of three IPOs by Rashi Peripherals, Jana SFB, and Capital SFB.

Also Read: Key IPOs this week – Find all details about them and expert views on the best strategy

Wipro, HCL Technologies, Apollo Hospitals, Divi’s Laboratories, and Dr Reddy’s Laboratories were the top gainers in the Nifty 50. While Hero MotoCorp, Coal India, BPCL, ONGC, and NTPC were the key losers in the Nifty 50 today in the second half.

The NSE Nifty 50 was down 154 points or 0.71% at 21,628.50. While the BSE Sensex was down 456.67 points or 0.64% at 71,138.82.

Shares of Coal India dropped nearly 5% to Rs 434.05. The stock was among the key laggards in the Nifty 50.

Shares of IRFC fell nearly 11% to Rs 137 after the company reported a decline in its net profit in the third quarter.

In a recent report, Motilal Oswal has given a ‘Buy’ recommendation on ONGC, providing insights into the company’s financial performance for the third quarter of fiscal year 2024.

Also Read : Brokerage houses remain bullish on ONGC as the risk-reward ratio is deemed reasonable

Divi’s Laboratories, Wipro, Apollo Hospitals, Dr Reddy’s Laboratories, and HCL Technologies were the top gainers in the Nifty 50. While Hero MotoCorp, BPCL, Coal India, ONGC, and NTPC were the key losers in the Nifty 50.

The company benefits from decades of experience in the hospitality industry, reflected in high occupancy rates and a proven track record of service excellence. Its expansion plans indicate exciting possibilities for future revenue growth, said Shivani Nyati, Head of Wealth at Swastika Investmart.

“This listing paints a hopeful picture for ASPHL, but a cautious approach is still advisedCome from Sports betting site. Thus, those who want to book profit may exit their holdings, and those who want to hold for the long term may keep a stop loss at 168,” she said.

“Considering the optimistic momentum in the market and welcoming announcements made in the Interim Budget to promote the hospitality and tourism industry, we expect the hotel sector to outperform in coming years and Apeejay Surrendra Park Hotels is well placed in all metros to tap the tourism demand.  Its IPO offer also received strong subscription demand from all sets of investors, based on these rationales and demand, we expect Apeejay Surrendra Park Hotels to list around 20% higher than its issue price of 155/- a piece. We believe the healthy listing is justified on the back of reasonable valuations when compared to its peers followed by the government push towards the hospitality and tourism industry and its primary objective of reducing the debt which could lighten interest burdens which can improve the bottom lines in coming years. Hence, we recommend allotted investors to “HOLD” with a long-term perspective. For non-allottees one can accumulate more in dips post listing and look to hold for a long term like 3-5 years’ time horizon,” said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.

Shares of Hero MotoCorp fell 4% to Rs 4,710.15 despite recording a 51% surge in its net profit for the third quarter.

Divis Labs, Dr Reddys Lab, Wipro, HCL Technologies, and UPL are the top gainers on NSE Nifty 50 index.

The NSE Nifty 50 opened 6.90 points or 0.03% higher at 21,789.40 while the BSE Sensex opened 59.13 points or 0.08% at 71,654.62.

Prashanth Tapse, Senior Vice President of Research at Mehta Equities said that in a rather subdued week at Dalal Street, Nifty has seen limited participation, with the fear of missing out conspicuously absent and the pursuit of strength proving ineffective. Investor caution prevails amid RBI’s uninspiring monetary policy and the ongoing debate on the Federal Reserve’s inflation goal. Despite the market’s languid state, the S&P 500’s historic close above 5,000 brings some optimism.

Now, from a technical standpoint, Nifty’s intraday support rests at 21557, while hurdles are at an all-time high of 22127. Bank Nifty’s support is at 44429, with immediate hurdles at 46311. The Nifty options data suggests a trading range of 21500-22500. Key catalysts include India’s CPI and IIP numbers, along with the US January CPI. Corporate earnings and Q3 results are in focus, with a positive outlook for Nifty’s rally, aiming to revisit its all-time high. Buyers’ weakness below 21557 could attract bears.

According to Tapse, investors can look at buying Nifty at CMP with targets at 21907/22011 and Bank Nifty at CMP with targets at 46181/46893. The chart of the day favours Bank of Baroda, Bharat Forge, Siemens, and Adani Enterprises on intraday weakness. The recommended stock to buy is Punjab National Bank (CMP 124) with a stop at 116.75 and targets at 129/135, following an intermonth strategy based on a higher high/low rationale.

Bank Nifty was the lead performer in Friday’s trading session. It closed with handsome gains. The fall witnessed in the previous trading session did not continue on Friday and Bank Nifty reversed sharply from the 45000 level. The pullback can continue towards 46000 – 46200 where the key daily moving averages are placed, said Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas.

Commenting on the technical outlook Jatin Gedia, a technical research analyst at Sharekhan by BNP Paribas, said that on the upside, the Nifty can rise towards 21807 – 21830 where the key hourly moving averages are placed. Overall, the sideways price action is likely to continue. The range of consolidation is likely to be 21600 – 22050. The broader market witnessed a sharp correction though. On Friday, the Midcap Index was down 1% and the Small Cap Index was down 1.4%. Thus, the action could shift to the frontline while the midcap and smallcap enter a consolidation phase.

Ashok Leyland, Auropharma, Balrampur Chini Mills, Biocon, Delta Corp, Hindustan Copper, India Cements, Indus Tower, PNB, SAIL, UPL, and Zee Entertainment Enterprise were the stock in the F&O ban list.

Foreign institutional investors (FII) bought shares worth net Rs 141.95 crore. While, domestic institutional investors (DII) sold shares worth net Rs 421.87 crore on February 12, 2024, according to the provisional data available on the NSE.

WTI crude prices are trading at $76.46 down by 0.51%, while Brent crude prices are trading at $81.77 down by 0.51%, on Monday morning.

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, traded flat, 0.02% at 104.01.

The three major US benchmark indices closed on a mixed note. The 30-stock Dow Industrial Average closed 54.64 points, or 0.14% lower at 38,671.69. The S&P 500 gained 0.57% to 5,026.61. The tech-heavy Nasdaq Composite jumped 1.25% at 15,990.66.