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What happened in the Indian stock market today?

share market today

On February 26, 2024, the domestic benchmark indices, Sensex and Nifty 50, concluded Monday’s session in the red.

The 30-share BSE Sensex ended 352.67 points lower, down 0.48%, at 72,790.13, while the Nifty 50 closed at 22,122.05, down 90.65 points or 0.41%. 

IT stocks saw a notable decline of 1.17%, with anticipation building around a significant US inflation report expected to influence the Federal Reserve’s future rate decisions.

Concerns over inflation data from Europe and Japan also contributed to subdued sentiment in Asian markets, reflecting cautious investor sentiment.

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Impact on the stock market

Nifty IT and Nifty Metal indices led losses, falling 1.17% and 0.94%, respectively. Other decliners included Nifty Bank (down 0.50%), Nifty Financial Services (down 0.28%), Nifty Media (down 0.37%), Nifty Pharma (down 0.48%), and Nifty Consumer Durables (down 0.89%).

Conversely, Nifty Auto (up 0.10%), Nifty Realty (up 0.07%)  and Nifty Oil & Gas (up 0.12%) were the gainers.

Information Technology-1.17%
Oil & Gas+0.12%
PSU Banks-0.50%

Top gainers today

CompanyPriceChange (%age)
Power Grid Corp287.80+2.07%
Adani Enterprises3,327.75+1.66%
TATA Cons. Prod1,177.10+1.45%

Top losers today

CompanyPriceChange (%age)
Asian Paints2,868.45-3.94%
Apollo Hospital6,584.00-2.81%
Divis Labs3,577.35-1.94%
Tata Steel142.65-1.93%

Market aftermath: Impact on stocks

RITES surges 5% on winning Rs 414-cr IIT project

RITES shares surged 5% on February 26 as it secured a Rs 414 crore project to develop IIT Bhubaneswar’s permanent campus. The estimated project cost, including PMC fees, amounts to Rs 414 crore. 

The stock price has soared over 65% in the past six months. RITES aims to compensate for revenue declines by aggressively pursuing export and consultancy orders in 2023-24 and 2024-25. It garnered over 100 orders worth Rs 612 crore in the quarter ended December 31, 2023.

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TFCI stock hits record high

Tourism Finance Corporation of India’s stock soared to an all-time high as its board approved the allotment of 88.91 lakh shares to non-promoters at ₹ 225 each, aiming to raise ₹ 200 crore. At 11:45 am on February 26, TFCI shares traded 5% higher at ₹ 267.55 on the NSE.

Notably, investor Aditya Kumar Halwasiya acquired a 13% stake in the company, while Varanium India Opportunity exited by selling its entire stake of 30.97 lakh shares.

Vodafone Idea stock dips 2% amidst fund-raise speculations

Vodafone Idea’s stock declined 2% on February 26 following a two-day 14% surge driven by fund raise announcements. The company’s shares traded at ₹ 17.25 on the NSE. As per reports, the Aditya Birla Group, Vodafone Idea’s promoter, is expected to fund the capital raise independently.

The telecom firm disclosed plans for capital augmentation on February 22, considering various options such as rights issues, public offers, private placements, or qualified institutional placements.

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Skipper hits record high with ₹ 737 crore order surge

Skipper shares surged 13% to an all-time high of ₹ 372.75 after securing a ₹ 737-crore contract with Power Grid Corporation of India for a 765 kV transmission line project. 

The company reported a 115% increase in Q3 net profit to ₹ 20.4 crore, with revenue climbing 80% to ₹ 801 crore. Skipper’s order inflow for Q3 FY24 was ₹ 402 crore, and ₹ 3,145 crore year-to-date for engineering product supplies and EPC works.

Crude oil futures decline

Crude oil futures declined on Monday morning as investors await crucial inflation data. At 9.13 am, May Brent oil futures stood at $80.40, down 0.50%, while April WTI crude oil futures were at $76.07, down 0.55%. 

On MCX, March crude oil futures traded at ₹6319, a 0.54% drop, and April futures at ₹6324, down 0.44% from the previous close.


In today’s market wrap-up, the Sensex and Nifty 50 closed in the red, driven by concerns over inflation data and cautious sentiment in Asian markets. 

However, some stocks like Tourism Finance Corporation of India and Skipper hit record highs on positive developments, while Vodafone Idea saw a slight dip amidst fundraising speculations. Crude oil futures declined as investors awaited crucial inflation reports.

Stay tuned for more such updates on StockGro!

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Hunny Meghani

A curious mind, a love for writing, and a passion for all things finance - that's me in a nutshell. Whether I'm exploring the latest stock market trends or diving into the nitty-gritty of personal finance, marketing, and AI. I'm always on the hunt for the next big story.

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