Home » Market Spotlight » What happened in the Indian stock market today?

What happened in the Indian stock market today?

On February 14, 2024, both the Sensex and the Nifty 50 closed higher, marking the second consecutive positive session.

share market today

Despite early losses, they rebounded to register gains of nearly half a per cent each by late trading. The Sensex stood at 71,822.83, up 267.64 points or 0.37%, while the Nifty reached 21,840.05, rising by 96.80 points or 0.45%. 

Nifty opened gap-down tracking the weak US markets; however, strong recovery in the heavyweights, including SBI, Reliance Industries, and Axis Bank, pared losses and helped the index close around the day’s high.

The combined market capitalisation of BSE-listed firms surged to approximately ₹385 lakh crore from around ₹380.8 lakh crore in the preceding session, reflecting a notable increase of about ₹4.2 lakh crore in investor wealth within a single session.

You may also like: Is Vibhor Steel Tubes IPO the next big hit in 2024? Find out!

Impact on the stock market

Sectoral Indices Surge: Nifty PSU Bank is up 3.24%, Oil & Gas is up 3.10%, Nifty Media is up 2.51%, and the Auto index is up 1.46%. 

However, Nifty IT declined 1.12%, Healthcare and Pharma indices each dropped around 1%.

Information Technology-1.12%
Oil & Gas+3.10%
PSU Banks+3.24%

Top gainers today

CompanyPriceChange (%age)
Coal India466.35+3.09%
Axis Bank1,096.85+2.44%

Top losers today

CompanyPriceChange (%age)
Tech Mahindra1,294.85-2.53%
Sun Pharma1,519.95-1.44%
Dr. Reddys Labs6,253.40-1.29%

Market aftermath: Impact on stocks

Paytm shares hit all-time low amid ED probe

Paytm shares plummeted by 10% to hit all-time lows amidst a potential ED probe. Since RBI’s restrictions on January 31, shares have plunged by 53%, below half their value. 

It was trading at ₹ 342.15, down by 65.5% from its 52-week high of ₹ 998.3. RBI’s crackdown on Paytm Payments Bank led to severe losses, with a 53% drop since January 31. RBI cited persistent non-compliance, halting deposit acceptance and transactions from February 29.

Also Read: How EaseMyTrip’s 5-star hotel plan in Ayodhya will be a game-changer? 

IREDA shares surge 5%

IREDA shares surged 5% after a ₹ 390 crore deal on Feb 14. The company’s inclusion in the MSCI Small Cap index is anticipated to draw $17 million in foreign inflows. Around 2 crore shares, valued at ₹ 389.80 crore, changed hands at Rs 160 each. 

Despite a recent 15% slump, the stock is up over 65% year-to-date. Since its November debut, IREDA has quadrupled investor returns from its ₹ 32 issue price, emerging as a top PSU performer.

Mahindra & Mahindra’s Q3 net profit surges 60% YoY

Mahindra & Mahindra’s standalone net profit surged 60% YoY to ₹ 2,454 crore, exceeding analyst estimates. Revenue grew 16% to ₹ 25,642.4 crore, with EBITDA rising by 9.7% to ₹ 3,590.3 crore. 

Operating margin expanded to 14%. Automotive segment volumes rose by 11.1% YoY to 3,13,115 units, with auto sales up by 20.1% YoY. Tractor volumes declined by 4%. At a consolidated level, profit after tax increased by 34% to ₹ 2,658 crore, with revenue up 15% to ₹ 35,299 crore.

Also Read: Nvidia’s soaring stock value and AI dominance

Crude oil futures slip

Crude oil futures slipped on Wednesday morning following a significant rise in US crude oil inventories. At 9:15 am, April Brent oil futures stood at $82.14, a 0.16% decrease, while March WTI crude oil futures were at $77.83, down by 0.05%. 

Meanwhile, February crude oil futures on the MCX were trading at ₹ 6469, a decline of 0.32%, and March futures were at ₹ 6462, down by 0.37% from the previous close.


In today’s stock market, the Sensex and Nifty 50 closed higher, marking a second consecutive positive session and reflecting investor optimism. 

However, Paytm shares hit all-time lows amid a potential ED probe, contrasting with IREDA’s surge following a lucrative deal. Mahindra & Mahindra reported impressive Q3 results, while crude oil futures slipped on increased US inventories. 

Stay tuned for further updates on StockGro!

Enjoyed reading this? Share it with your friends.

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.

Post navigation

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *