Sensex Today Ends 480 Points Higher | Nifty Above 25,700 | Morepen Laboratories Up 15%

Mon, 23 Feb Closing

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Although the benchmark indices opened flat, they traded negative throughout the session and ultimately closed green.

Indian equity benchmarks indices, Sensex and Nifty50 extended gains to the second session, as a rise in PSU bank and healthcare stocks supported. The domestic equities also got support from positive global cues after US President Donald Trump's reciprocal tariffs were ruled illegal by the US Supreme Court.

At the closing bell, the BSE Sensex  closed higher by 480 points (up 0.6%).

Meanwhile, the NSE Nifty closed 141 points higher (up 0.5%).

Kotak Mahindra, HUL, HDFC Bank are among the top gainers today.

Tech Mahindra, Infosys, Trent on the hand, were among the top losers today.

The GIFT Nifty was trading at  25,661 higher by 256 points at the time of writing.

The BSE MidCap index ended 2% higher and BSE SmallCap index ended 2.5% higher.

Sectoral indices are trading mixed today with stocks in power sector and banking sector witnessed buying. Meanwhile, stocks in IT sector and metal sector witnessed selling pressure.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at Rs 90 against the US$.

Gold prices for the latest contract on MCX are trading 1.7% higher at Rs 159,550 per grams.

Meanwhile, silver prices were trading 4.7% higher at 2,65,100 per 1 kg.

Speaking of stock markets, Rahul Shah, Research Analyst at Equitymaster, explains that many people confuse buying popular stocks like Nykaa with true investing, but often it's just speculation.

He applies Benjamin Graham's "Graham Test" to Nykaa, checking for thorough analysis, safety of principal, and adequate returns. Nykaa's extremely high P/E ratio and low margin of safety show it is priced for future growth rather than current value.

While it may still be profitable for some, Graham would classify it as speculation, not a sound investment.

Watch to know more.

Highway Infra Secures NHAI Toll Contract

In the news from infrastructure sector, Highway Infra has been awarded a contract by the National Highways Authority of India (NHAI).

The company has been appointed to operate and collect toll (user fees) at Moti Naroli, Ena, and Gandevi Fee Plazas located on different sections of the Vadodara-Mumbai Expressway in the state of Gujarat.

In addition to toll collection, the company will also be responsible for the upkeep and maintenance of the adjacent toilet facilities, including replenishment of consumable items.

The contract has been awarded by a domestic government authority and is domestic in nature. The total contract value is approximately Rs 1.54 billion (bn), and the work is to be executed within a period of 90 days.

Vedanta Shares Gain on Fundraise Plans

Moving on the news from metal & mining sector, shares of Vedanta came into focus after the company announced a fundraising plan.

In an exchange filing, Vedanta said that a board meeting will be held later this week to consider a proposal to issue non-convertible debentures (NCDs).

Non-Convertible Debentures (NCDs) are fixed-income tools that companies use to collect funds through public offerings. NCDs cannot be changed into shares or stocks since they are a type of debt instrument.

Narayana Hrudayalaya Rises on Land Acquisition

Moving on to the news from healthcare sector, shares of Narayana Hrudayalaya came into focus after the company informed stock exchanges that it has purchased an immovable property in Bengaluru as part of its business expansion plans.

The company stated in a filing that the asset includes approximately 3.3 acres of land, along with buildings and structures totaling around 36,475.96 square meters, situated in the southern part of Bengaluru at Electronic City.

The property is planned to be used for software development, establishing a Global Capability Center (GCC), and supporting the company's business expansion initiatives.

Narayana Hrudayalaya Ltd is engaged in providing economical healthcare services. It has a network of multispecialty and super specialty hospitals spread across multiple locations.

To know what's moving the Indian stock markets today check out the most recent share market updates here.

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