Odisha News Hour

Update on the Stock Market: ZEEL Rals 7%, Sensex Drops Over 150 Points, and Nifty Below 22,100

<p><strong>Sensex Today:</strong> Amid muted global mood, the benchmark Nifty50 index began Tuesday’s trading session 50 points down at 22,073, having scaled a new intraday record high on Monday.</p>
<p><img decoding=”async” class=”alignnone wp-image-422705″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-update-on-the-stock-market-zeel-rals-7-sensex-drops-over-150-points-and-nifty-belo.jpg” alt=”theindiaprint.com update on the stock market zeel rals 7 sensex drops over 150 points and nifty belo” width=”1010″ height=”673″ title=”Update on the Stock Market: ZEEL Rals 7%, Sensex Drops Over 150 Points, and Nifty Below 22,100 9″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-update-on-the-stock-market-zeel-rals-7-sensex-drops-over-150-points-and-nifty-belo.jpg 510w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-update-on-the-stock-market-zeel-rals-7-sensex-drops-over-150-points-and-nifty-belo-150×100.jpg 150w” sizes=”(max-width: 1010px) 100vw, 1010px” /></p>
<p>In contrast, the S&P BSE Sensex started at 72,541, down 167 points.</p>
<p>On the BSE benchmark, the biggest gainers were Power Grid, Kotak Bank, Ultratech Cement, HDFC Bank, and Asian Paints; the top laggards were M&M, Bajaj Finserv, ICICI Bank, Tata Motors, HCL Tech, and Maruti Suzuki.</p>
<p>The BSE MidCap and SmallCap indexes had mixed results in the larger market, with the former declining 0.17 percent and the latter increasing 0.13 percent.</p>
<p>The Nifty Auto index, which was down 0.5%, was the sector that lagged the most. Conversely, the Nifty Media index increased by 2.6%.</p>
<p>Following news from The Economic Times that Zee Entertainment Enterprises (ZEEL) and Sony Group are in talks to salvage the $10 billion merger that the Japanese giant had called off on January 22, shares of ZEE shot up 6%.</p>
<p>Following the announcement of a long-term LNG supply deal between the maker of industrial chemicals and fertilizers, Deepak Fertilizers, and Equinor, an international energy firm with its headquarters in Norway, the stock of the former surged by 10%.</p>
<p>Following the exchange of over 9 million equity shares in block trades today, Whirlpool of India’s shares fell 3%. Whirlpool Mauritius, the promoter company, was anticipated to sell 30.4 million shares today via block agreements, representing a 24% interest.</p>
<p><strong>Worldwide Cues</strong></p>
<p>Tuesday saw Asian markets remain below one and a half-month highs as investors, who had grown weary of the absence of further significant stimulus measures, were unmoved by China’s larger-than-expected interest rate decrease.</p>
<p>Tuesday’s opening of Tokyo equities was somewhat positive as traders anticipated new guidance from Wall Street. The larger Topix index increased 0.24 percent, or 6.34 points, to 2,646.03, while the benchmark Nikkei 225 index gained 0.11 percent, or 43.00 points, to 38,513.38 at the opening.</p>