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Sharp selloff was seen in stocks like Bandhan Bank, IndusInd Bank, Kotak Bank, and ICICI Bank while SBI and Bank of Baroda closed flat but with a positive bias. The selling pressure pushed the Nifty Bank below crucial support levels placed around 45,000. The next crucial support for the index is placed at 44,800 levels.

The initial public offering (IPO) of Vibhor Steel will open for subscription on Tuesday, February 13, 2023. The issue closes on February 15. The company plans to raise Rs 72 crore through the IPO.

The momentum indicator aligns with this bearish outlook, displaying a crossover. Nifty might remain in sell-on-rise mode as long as it remains below 21,850. On the downside, support is situated at 21,500, Rupak De of LKP Securities said.

Earnings before interest, taxes, depreciation and amortisation or EBITDA is expected to grow by 67% YoY to Rs 5,841 crore, but the topline is seen declining 0.5% to Rs 52,928 crore, the estimates showed.

The S&P BSE Sensex fell more than 500 points while the Nifty50 managed to hold on to 21,600 levels. Sectorally, buying was seen in healthcare and IT stocks while public sector, utilities, telecom and realty stocks saw some selling pressure.

Revenue from operations rose 3% year-on-year to Rs 36,154 crore in the third quarter, compared with Rs 35,169 crore in the same period of last year.

​Apeejay Surrendra Park Hotels on Monday debuted on the exchanges with a premium of 20% over the issue price, which was largely on the expected lines.

The MSCI inclusion can lead to about $ 186 million inflows in NMDC, $180 million in PNB, $156 million in BHEL, $140 million in Union Bank, and $223 million in NHPC. IREDA, Mamaearth, RR Kabel, SpiceJet, Inox Wind, Balmer Lawrie, Ethos, MSTC, and DB Realty, among others can get included in the MSCI Smallcap Index.

Exuberance is observed in mid and smallcaps, with a focus on buying laggards. The influx of domestic investors has changed the nature of the market. Selective investments in PSUs, particularly gas utilities, are favored. The large banks may have gone a little bit too far but at the same point in time that is what is impacting them in the short term

The fourth and final tranche of SGB in this financial year is available for subscription from February 12-16. Investors will have to pay Rs 6213 per gram of gold after a discount of Rs 50 per gram for digital payments. This is Rs 64 per gram higher than the price during the third tranche they paid in December 2023 (Rs 6149).