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What happened in the Indian stock market today?

share market news today

On February 22, 2024, Indian benchmark indices, Sensex and Nifty 50, rebounded from early losses, driven by gains in IT, auto, and metal stocks. 

The Nifty 50 achieved a record-high milestone for the fourth consecutive session, reaching 22,252.50, and the Sensex is now just 225.87 points away from its record-high level of 73,427.59 tested on January 16.

The Sensex closed 535.15 points higher at 73,158.24, while the Nifty 50 surged by 162.50 points or 0.74 % to 22,217.50. 

The volatility index, reflecting market uncertainty, remained near its 10-month highs, indicating caution among investors ahead of India’s budget. Initially flat due to mixed global cues, the indices experienced intraday volatility.

You may also like: Mumbai High: ONGC’s legacy and future in India’s energy sector

Impact on the stock market

The sectors Auto, Capital Goods, Metal, Power, Information Technologies, and Telecom all rose by 1 % each. 

However, the bank index ended slightly lower.

Information Technology1.94%
Oil & Gas0.30%
PSU Banks0.21%

Nifty top gainers today

CompanyPriceChange (%age)
Bajaj Auto8,498.453.23%
HCL Tech1,686.403.06%
Eicher Motors3,951.403.00%
Coal India445.152.82%

Nifty top losers today

CompanyPriceChange (%age)
IndusInd Bank1,489.15-1.85%
HDFC Bank1,419.55-1.36%
Kotak Mahindra1,724.75-1.22%
Hero Motocorp4,495.15-0.88%

Market aftermath: Impact on stocks

Juniper Hotels IPO day 2: Subscribed at 20%, retail bids 81%

Juniper Hotels IPO saw a tepid response on Day 2, with a 20% subscription rate. Retail investors bid 81%, while high net-worth individuals and qualified institutional buyers subscribed to 11% and 4% their respective quotas. 

The company aims to raise ₹ 1,800 crore through a price band of ₹ 342-360 per share, with proceeds allocated for loan repayments and general corporate purposes. 

Also Read: Juniper Hotels goes public: What you need to know.

ABB India surges 8% to record high

ABB India’s net profit for December 2023 grew 13% YoY to ₹ 345 crore, with revenue up 14% to ₹ 2,757 crore and order intake rising 35% to ₹ 3,147 crore. 

Its stock price rose 23% in six months, outpacing Nifty 50’s 12% gain. Brokerage Nomura upgraded ABB to ‘buy’, raising the target to ₹ 5,740 from ₹ 3,575. Today, ABB’s shares rose by 8% and ended at ₹ 5,425 on the NSE.

LT Foods, KRBL, and Chaman Lal Setia stocks drop up to 4%

The finance ministry’s announcement of continuing the 20% export duty on parboiled rice beyond March 31 led to a decline in shares of rice milling companies. LT Foods and KRBL stocks fell 7-8% this year, while Chaman Lal Setia gained 0.5%. 

In Q3FY24, LT Foods’ net profit rose 52% YoY to ₹ 152.6 crore, Chaman Lal Setia’s total income surged 32% to ₹ 355 crore, but KRBL’s revenue declined 6% to ₹ 1,437 crore.

Also Read: Sugar stocks sour as government raises fair price to ₹340/quintal

Crude oil futures rise

Crude oil futures rose on Thursday, reflecting optimism over robust demand prospects. At 9:15 am, April Brent oil futures climbed to $83.15, a 0.14% increase, while April WTI crude oil futures reached $78.06, up by 0.19%. 

On the MCX, March crude oil futures traded at ₹6480, a 0.51% rise from the previous close, and April futures stood at ₹6471, up by 0.54% from the previous close at ₹6436.


In today’s stock market, the Sensex and Nifty 50 rebounded from early losses, fueled by gains in IT, auto, and metal stocks. 

Juniper Hotels IPO saw moderate subscription rates, while ABB India surged to a record high. Rice milling stocks dipped, influenced by export duty announcements, while crude oil futures rose on optimistic demand outlooks. 

Stay tuned on StockGro for further updates on market trends!

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