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What happened in the Indian stock market today?

share market today

On February 13, 2024, the Sensex and Nifty 50 surged, with the Nifty climbing 127 points (0.59%) to 21,743.25 and the Sensex rising 483 points (0.68%) to 71,555.19. 

Despite strong domestic gains driven by select banking heavyweights, weak global cues tempered market enthusiasm as investors awaited crucial US inflation data. This data is pivotal for determining the US Federal Reserve’s future policy decisions. 

While market participants anticipate potential rate cuts by the Fed this year, robust recent US economic indicators have tempered expectations of imminent rate adjustments, possibly delaying them beyond March.

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Impact on the stock market

All indices closed in the green except for Nifty Metal (down 2.07%) and Media (down 0.03%). 

Major gains were seen in Nifty Bank (up 1.38%), Private Bank (up 1.48%), PSU Bank (up 1.20%), and Financial Services (up 1.37%).

Information Technology0.54%
Oil & Gas0.85%
PSU Banks1.20%

Top gainers today

CompanyPriceChange (%age)
Coal India452.35+4.52%
ICICI Bank1,019.80+2.38%
Axis Bank1,070.75+2.30%
SBI Life Insurance1,467.60+2.20%

Top losers today

CompanyPriceChange (%age)
Divis Labs3,700.45-1.06%

Market aftermath: Impact on stocks

Reliance Industries hits ₹ 20 lakh crore market cap milestone

Reliance Industries Ltd achieved a milestone on February 13, becoming India’s first company to surpass ₹ 20 lakh crore in market capitalisation.

Its shares surged 14% in 2024, hitting a record high of ₹ 2,957. The conglomerate’s market cap growth has been significant, taking 12 years to reach ₹ 5 lakh crore in 2017 and doubling to ₹ 10 lakh crore in 2019. 

Recent gains of 10.4% in January and nearly 4% in February align with positive reports and market trends.

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Hindalco Industries faces a 14% decline

Hindalco Industries Ltd witnessed a 14% decline in its share price on February 13, following Novelis’ announcement of a 65% increase in the total capital cost for the Bay Minette project, now at $4.1 billion with a one-year delay. 

Management suggests that this upward adjustment in capital costs might result in decreased returns, transitioning from the ‘mid-teens’ range (15-19%) to ‘double digits’ (10-99%) range.

Novelis’ Q3FY24 adjusted EBITDA stood at $454 million, with stable volumes at 0.91 million tonnes and an anticipated Q4FY24 margin of around $525/ton.

NHPC stock surges 8% on interim dividend announcement

NHPC’s stock surged 8% on Feb 13 after declaring an interim dividend of ₹ 1.4/share for FY23-24, boasting a 2.5% yield. Despite a weak Q3, analysts remain bullish as the stock surged 24% in the past month while Sensex dipped 1%. 

Consolidated revenue and profit declined 14% and 26% YoY in Q3 due to flash floods, with additional expenses of ₹ 34 crore offset by potential insurance claims of ₹ 30 crore. 

NHPC has 18.7 GW projects under implementation, including 7.3 GW pump-storage projects in Maharashtra.

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Crude oil sees a marginal rise

Crude oil futures edged slightly higher on Tuesday morning as the market awaited crucial US inflation data, influencing the US Fed Reserve’s interest rate decision.

At 9:53 a.m., April Brent oil futures stood at $82.05, up by 0.06%, while March WTI crude oil futures were at $77.03, showing a 0.14% increase.


In today’s stock market, both the Sensex and Nifty 50 surged, driven by strong domestic gains despite cautious sentiments amid global uncertainties. 

Reliance Industries hit a historic milestone, while Hindalco Industries faced a decline due to project cost adjustments. NHPC witnessed a stock surge following an interim dividend announcement. Crude oil futures saw a marginal rise as investors awaited crucial US inflation data.

 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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