Market Highlights 19 Feb,24

Indian markets ended flat as financial gains offset pharma losses from Trump’s tariff threats, closing marginally lower. The benchmark indices reflected a mixed sentiment among investors. Experts cite bargain hunting and FII flows as key drivers. *Major Indices Performance:* - *NIFTY 50:* 📉 Decreased by 0.05%, closing at 22,933. - *SENSEX:* 📉 Fell by 0.03%, ending at 75,939. - *BANK NIFTY:* 📈 Increased by 0.35%, settling at 49,570. - *NIFTY MIDCAP 100:* 📈 Increased by 1.56%, reaching 50,527. - *NIFTY SMALLCAP 100:* 📈 Increased by 2.36%, closing at 15,168.00. *Major Sectoral Performance:* * *Gainers:* The major gainers for the day were Nifty Capital Market (4.26%) along with Nifty India Defence (4.19%) and Nifty Alpha 50 (2.81%). * *Losers:* Nifty IT (-1.30%) followed by Nifty Growth Sector 15 (-1.12%) and Nifty Pharma (-0.71%) were the major losers for the day. 📢 *Major news headlines of the day:* - *Adani Cement* , generating $800 million to $1 billion annually, plans acquisitions in South India and the North-East to tap into the strong OPC(Ordinary Portland Cement) market, complementing Ambuja and ACC’s focus on blended cements. - *Tesla* may enter India in late 2025 with the Model Y, skipping the cheaper Model 3 and Model 2. It is exploring showroom locations in Mumbai and Delhi. - *Tata Steel UK* has received approval for £1.25 billion electric arc furnace project, backed by £500 million from the UK government, preserving 5,000 jobs and cutting CO₂ emissions by 90%. Operations to beginning in 2027 - *Nava Ltd* surged 13.1% to ₹428.15 after approving a ₹360 crore buyback of 72 lakh shares at ₹500 each, a 32.1% premium to the last closing price, boosting investor sentiment. - *Venus Pipes* surged 5.29% to ₹1,244.1 after Investec initiated coverage showing strong financials, rapid growth, and solid execution on capacity expansion. - *Bharti Telecom’s* Q3FY25 net loss widened to ₹748.7 crore due to higher finance costs from Airtel share purchases. Singtel reported a ₹370 crore negative pre-tax impact. Airtel stock fell 1.42% to ₹1,645. .