Stock market today: 171 BSE-listed shares hit upper circuit. Do you own any?

Despite the ongoing market downturn, as many as 171 stocks listed on the BSE reached hit upper-circuit on Monday. After falling for eight session straight, Indian indices – Sensex and Nifty – finally turned positive to end the session in green on February 17.

BSE-listed stocks such as RDB Real Estate Constructions, Morgan Ventures, Zenith Exports, Reliable Data Services, JHS Svendgaard Retail Ventures, Innovative Ideals and Services (India), Ranjeet Mechatronics, Trident Texofab, Polo Queen Industrial and Fintech were among the stocks that hit upper-circuit on February 17.

Meanwhile, as much as 521 stocks hit lower-circuit on BSE amid stock market decline.

Stock market today

Both Indian benchmarks – Sensex and Nifty – started the session in red, however, saw a strong recovery driven by a rebound in financial stocks and substantial support from the pharma sector, which helped uplift the markets.

The Nifty 50 concluded the session with a 0.13 per cent rise, finishing at 22,970, while the Sensex closed at 75,996, reflecting a 0.08 per cent increase from the previous day’s close.

The market’s recovery today is due to the ongoing selling pressure in recent sessions, which has pushed stocks into oversold territory, offering opportunities for a technical rebound as investors take advantage of the correction.

The biggest laggards on the Sensex included Mahindra & Mahindra, Tata Steel, Infosys, Tech Mahindra, Tata Consultancy Services, and ICICI Bank. On the other hand, Bajaj Finserv, Asian Paints, Tata Motors, and IndusInd Bank were among the top gainers.

“Markets eked out modest gains in late recovery in a highly volatile trade, but most importantly it managed to halt the 8-session losing streak. Positive Asian and European indices aided sentiment, while gains in select banking, oil & gas, metals and power stocks helped local benchmarks recover from their early lows,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.