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As on Mar 28, 2024 12:00 AM |
Your results on : Mid Session |
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The headline equity indices further extended gains and hit fresh day's high in mid-afternoon trade. The Nifty marched above the 22,450 mark. Auto shares witnessed buying demand for the second consecutive trading session. Trading was volatile due to the March F&O series expiry today. At 14:30 IST, the barometer index, the S&P BSE Sensex surged 1,131.78 points or 1.55% to 74,128.09. The Nifty 50 index gained 362 points or 1.64% to 22,485.65. In the broader market, the S&P BSE Mid-Cap index rose 0.94% and the S&P BSE Small-Cap index added 0.60%. The market breadth was positive. On the BSE, 2,107 shares rose and 1,664 shares fell. A total of 114 shares were unchanged. Buzzing Index: The Nifty Auto index rose 1.98% to 21,564. The index advanced 2.49% in two trading sessions. Eicher Motors (up 3.94%), Mahindra & Mahindra (up 3.76%), Hero MotoCorp (up 3.37%), Tata Motors (up 1.67%), Bharat Forge (up 1.57%), Ashok Leyland (up 1.48%), TVS Motor Company (up 1.41%), MRF (up 1.38%), Tata Motors-DVR (up 1.37%) and Balkrishna Industries (up 1.05%). On the other hand, Bosch (down 0.30%) and Apollo Tyres (down 0.26%), edged lower. Numbers to Track: The yield on India's 10-year benchmark federal paper fell 0.41% to 7.043 as compared with previous close 7.072. In the foreign exchange market, the rupee is edged lower against the dollar. The partially convertible rupee was hovering at 83.3875, compared with its close of 83.3350 during the previous trading session. MCX Gold futures for 5 April 2024 settlement rose 0.27% to Rs 66,548. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was added 0.23% to 104.59. The United States 10-year bond yield rose 0.46% to 4.219. In the commodities market, Brent crude for May 2024 settlement gained 42 cents or 0.49% to $85.83 a barrel. Stocks in Spotlight: Mukka Proteins dropped 7.66% after the company?s net profit declined 55.79% to Rs 10.47 crore in Q3 FY24 as compared with Rs 22.64 in Q3 FY23. NHPC rose 0.79%. The company's board approved the proposal for raising of debt upto Rs 6,100 crore during financial year 2024-25. Kalpataru Projects International (KPIL) added 0.43%. The company, along with its joint ventures (JVs) and international subsidiaries has secured new orders/notification of awards of Rs 2,071 crore.
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The domestic equity benchmarks extended gains and hit a fresh intraday high in afternoon trade. The Nifty traded above the 22,400 level. Barring the Nifty Media index, all the other sectoral indices on the NSE were in green. Trading could be volatile due to the March F&O series expiry today. At 13:27 IST, the barometer index, the S&P BSE Sensex was surged 900.87 points or 1.23% to 73,883.42. The Nifty 50 index gained 300 points or 1.36% to 22,423.65. In the broader market, the S&P BSE Mid-Cap index rose 0.91% and the S&P BSE Small-Cap index added 0.66%. The market breadth was strong. On the BSE, 2,190 shares rose and 1,530 shares fell. A total of 117 shares were unchanged. Gainers & Losers: Bajaj Finserv (up 4.26%), Bajaj Finance (up 3.36%), Grasim Industries (up 3.48%) Hero MotoCorp (up 3.07%) and Cipla (up 2.88%) major Nifty gainers. Shriram Finance (down 0.70%) and Axis Bank (down 0.19%) were major Nifty losers. Stocks in Spotlight: Biocon rallied 3.51% after the company announced that it has received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA), U.K., for its complex formulation Liraglutide. Larsen and Toubro (L&T) added 2.29% after the EPC major announced that its wholly owned subsidiary, L&T GeoStructure has secured ?significant? multiple orders from across India. Zydus Lifesciences added 1.90% after the company said that US Food and Drug Administration (USFDA) conducted an inspection at the SEZ Onco Injectable manufacturing plant at Ahmedabad, Gujarat. JSW Energy added 2.98% after the company's board will meet on Tuesday, 2 April 2024 to consider raising funds through various modes. Adani Power gained 3.09% the company's wholly owned subsidiary, Mahan Energen (MEL) has entered into a significant 20 year power purchase agreement (PPA) with Reliance Industries (RIL) under the electricity rules, 2005. Bharat Heavy Electricals (BHEL) added 2.33% after the company has received letter of award (LoA) from Adani Power for setting up the 2x800 MW Raigarh Phase-II Thermal Power Plant at Raigarh, Chhattisgarh. Global Markets: European stocks advanced while most of the Asian stocks declined on Thursday as sentiment remained strained ahead of key U.S. inflation data and addresses by Federal Reserve officials. Wall Street indexes rose sharply on Wednesday, rebounding after three days of losses as a drop in bond yields help spur strong gains in utility stocks. S&P 500 closed at record high. Fed Governor Christopher Waller said that there is no hurry to cut interest rate right now. Current inflation reading suggests rates can stay at current level for longer to bring down the inflation sustainably to 2% target rate, Waller reportedly said at Economic Club in New York. Markets are now awaiting more cues on inflation from PCE price index data- which is the Fed?s preferred inflation gauge. The data is due on Friday, when markets will be closed, but is largely expected to factor into the outlook for U.S. interest rates. Along with the PCE data, addresses from Fed Chair Jerome Powell is also due on Friday.
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The key indices traded with strong gains in early afternoon trade. The Nifty marched above 22,350 mark. Pharma shares gained after declining in the two trading session. Trading could be volatile due to the March F&O series expiry today. At 12:27 IST, the barometer index, the S&P BSE Sensex was surged 765.04 points or 1.05% to 73,758.08. The Nifty 50 index jumped 237.50 points or 1.07% to 22,361.15. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.58% and the S&P BSE Small-Cap index added 0.69%. The market breadth was strong. On the BSE, 2,204 shares rose and 1,454 shares fell. A total of 131 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.19% to 12.68. The Nifty 28 March 2024 futures were trading at 22,510.45, at a premium of 149.3 points as compared with the spot at 22,361.15. The Nifty option chain for the 28 March 2024 expiry showed maximum Call OI of 257 lakh contracts at the 22,500 strike price. Maximum Put OI of 307.5 lakh contracts were seen at 22,300 strike price. Buzzing Index: The Nifty Pharma rose 1.01% to 18,957.05. The index shed 0.25% in the two trading sessions. Biocon (up 3.39%), Divis Laboratories (up 2.15%), Ipca Laboratories (up 2.14%), Cipla (up 1.78%) and Zydus Lifesciences (up 1.78%), Dr Reddys Laboratories (up 1.75%), Sanofi India (up 1.29%), Sun Pharmaceuticals Industries (up 1.15%), Abbott India (up 1.04%) and Granules India (up 0.85%) advanced. On the other hand, Mankind Pharma (down 2.17%), Alkem Laboratories (down 1.62%) and Natco Pharma (down 1.18%) edged lower. Zydus Lifesciences rose 1.78% after the company said that US Food and Drug Administration (USFDA) conducted an inspection at the SEZ Onco Injectable manufacturing plant at Ahmedabad, Gujarat. Biocon jumped 3.39% after the company announced that it has received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA), U.K., for its complex formulation Liraglutide. Stocks in Spotlight: Latent View Analytics advanced 4.18% after the company announced the Board approval for acquisition of 70% of outstanding equity capital in Decision Point for a total consideration of $39.1 million.
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The headline equity benchmarks extended gains and hit fresh day's high in mid-morning trade. The Nifty marched above the 22,350 mark. Financial services shares witnessed buying demand for the second consecutive trading session. Trading could be volatile due to the March F&O series expiry today. At 11:28 IST, the barometer index, the S&P BSE Sensex was surged 819.89 points or 1.12% to 73,813.04. The Nifty 50 index jumped 246.25 points or 1.11% to 22,369.90. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.48% and the S&P BSE Small-Cap index added 0.77%. The market breadth was strong. On the BSE, 2,265 shares rose and 1,309 shares fell. A total of 147 shares were unchanged. IPO Update: The initial public offer (IPO) of SRM Contractors received 12,07,43,280 bids for shares as against 43,40,100 shares on offer, according to stock exchange data at 11:20 IST on Thursday (28 March 2024). The issue was subscribed 27.82 times. The issue opened for bidding on Tuesday (26 March 2024) and it will close on Thursday (28 March 2024). The price band of the IPO is fixed at Rs 200 to 210 per share. An investor can bid for a minimum of 70 equity shares and in multiples thereof. Buzzing Index: The Nifty Financial Services index gained 1.46% to 21,095.75. The index advanced 1.88% in two trading sessions. Bajaj Finserv (up 4.55%), Bajaj Finance (up 4.13%), State Bank of India (up 1.83%), Cholamandalam Investment & Finance Company (up 1.7%), ICICI Bank (up 1.61%), LIC Housing Finance (up 1.6%), REC (up 1.47%), Power Finance Corporation (up 1.26%), HDFC Bank (up 1.17%) and ICICI Prudential Life Insurance Company (up 1.15%) advanced. On the other hand, HDFC Asset Management Company (down 1.08%), Shriram Finance (down 1%) and SBI Cards & Payment Services (down 0.71%) edged lower. Stocks in Spotlight: Adani Power added 1.24% after the company's wholly owned subsidiary, Mahan Energen (MEL) has entered into a significant 20-year power purchase agreement (PPA) with Reliance Industries (RIL) under the electricity rules, 2005. Alkem Laboratories declined 1.92% after the US Food and Drug Administration (USFDA) conducted GMP and Pre-approval inspection at its manufacturing facility located in Baddi, Himachal Pradesh. JSW Energy rose 1.66% after the meeting of the board of directors of the company is scheduled on 2 April 2024 to consider and approve raising of funds. Global Markets: Asian stocks traded mixed on Thursday as sentiment remained strained ahead of key U.S. inflation data and addresses by Federal Reserve officials. Wall Street indexes rose sharply on Wednesday, rebounding after three days of losses as a drop in bond yields help spur strong gains in utility stocks. S&P 500 closed at record high. Fed Governor Christopher Waller said that there is no hurry to cut interest rate right now. Current inflation reading suggests rates can stay at current level for longer to bring down the inflation sustainably to 2% target rate, Waller reportedly said at Economic Club in New York. Markets are now awaiting more cues on inflation from PCE price index data- which is the Fed?s preferred inflation gauge. The data is due on Friday, when markets will be closed, but is largely expected to factor into the outlook for U.S. interest rates. Along with the PCE data, addresses from Fed Chair Jerome Powell is also due on Friday.
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The key equity indices extended gains in the morning trade. The Nifty marched above the 22,250 level. PSU bank shares advanced after declining in the past trading session. At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 557.65 points or 0.76% to 73,552.14. The Nifty 50 index added 163.05 points or 0.74% to 22,286.70. In the broader market, the S&P BSE Mid-Cap rose 0.08% and the S&P BSE Small-Cap index added 0.63%. The market breadth was strong. On the BSE, 2,267 shares rose and 1,179 shares fell. A total of 135 shares were unchanged. Buzzing Index: The Nifty PSU Bank index advanced 1.47% to 6,929.15. The index fell 0.97% in the previous trading session. Punjab & Sind Bank (up 3.55%), Indian Overseas Bank (up 3.51%), Bank of Maharashtra (up 3.38%), Central Bank of India (up 3.32%), Indian Bank (up 2.87%), UCO Bank (up 2.83%), Bank of India (up 1.93%), Canara Bank (up 1.57%), State Bank of India (up 1.28%) and Bank of Baroda (up 0.95%) advanced. Stocks in Spotlight: Biocon added 1.44% after the company announced that it has received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA), U.K., for its complex formulation Liraglutide. Mahindra Lifespace Developers advanced 2.52% after the company said that it has purchased approximately 2.0 acres of land in Whitefield, East Bengaluru. Cyient rose 2.88% after the company announced a strategic partnership with Deutsche Aircraft, a German original equipment manufacturer (OEM) located in We?ling, Munich to design 40-seater turboprop aircraft.
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The domestic equity benchmarks traded with modest gains in early trade. The Nifty traded above 22,200 level. Barring realty index all the other sectoral indices on the NSE were traded in green. At 09:30 IST, the barometer index, the S&P BSE Sensex, was up 317.49 points or 0.44% to 73,306.14. The Nifty 50 index added 92.65 points or 0.42% to 22,216.30. In the broader market, The S&P BSE Mid-Cap index rose 0.23% and the S&P BSE Small-Cap index added 0.73%. The market breadth was strong. On the BSE, 2,028 shares rose and 783 shares fell. A total of 106 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 2,170.32 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,197.61 crore in the Indian equity market on 27 March, provisional data showed. Stocks in Spotlight: Bharat Heavy Electricals (Bhel) advanced 2.33% after the company received an order from Adani Power for setting up the 2x800 MW Raigarh Phase-II Thermal Power Plant at Raigarh, Chhattisgarh. The consideration of order is worth Rs 4,000 crore. Dr. Reddy?s Laboratories added 1.27% after the company entered into exclusive distribution partnership with Sanofi Healthcare India (SHIPL) to promote and distribute their vaccine brands across private markets in India. IDFC First Bank declined 2.76%. Cloverdell Investment, an affiliate of Warburg Pincus, is reportedly looking to IDFC First Bank. The company may sell its entire 2.25% stake via block deals and the floor price may be Rs 75 per share, as per reports. Numbers to Track: The yield on India's 10-year benchmark federal paper fell 0.45% to 7.040 as compared with previous close 7.072. In the foreign exchange market, the rupee is edged lower against the dollar. The partially convertible rupee was hovering at 83.3375, compared with its close of 83.3350 during the previous trading session. MCX Gold futures for 5 April 2024 settlement rose 0.19% to Rs 66,490. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was shed 0.01 % to 104.34. The United States 10-year bond yield grew by 0.29% to 4.210. In the commodities market, Brent crude for May 2024 settlement rose 30 cents or 0.35% to $ 85.71 a barrel. Global Markets: Asian stocks traded mixed on Thursday as sentiment remained strained ahead of key U.S. inflation data and addresses by Federal Reserve officials. Wall Street indexes rose sharply on Wednesday, rebounding after three days of losses as a drop in bond yields help spur strong gains in utility stocks. S&P 500 closed at record high. Fed Governor Christopher Waller said that there is no hurry to cut interest rate right now. Current inflation reading suggests rates can stay at current level for longer to bring down the inflation sustainably to 2% target rate, Waller reportedly said at Economic Club in New York. Markets are now awaiting more cues on inflation from PCE price index data- which is the Fed?s preferred inflation gauge. The data is due on Friday, when markets will be closed, but is largely expected to factor into the outlook for U.S. interest rates. Along with the PCE data, addresses from Fed Chair Jerome Powell is also due on Friday.
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The headline equity indices continued to trade with major gains in mid-afternoon trade. The Nifty hovered above the 22,150 mark. Consumer durables stocks witnessed buying demand for the fourth consecutive trading session. At 14:30 IST, the barometer index, the S&P BSE Sensex was jumped 614.34 points or 0.85% to 73,084.64. The Nifty 50 index gained 170.45 points or 0.77% to 22,175.15. In the broader market, the S&P BSE Mid-Cap index rose 0.23% and the S&P BSE Small-Cap index added 1.04%. The market breadth was negative. On the BSE, 1,730 shares rose and 2,069 shares fell. A total of 113 shares were unchanged. Buzzing Index: The Nifty Consumer Durables index rose 0.61% to 32,063.95. The index jumped 3.14% in four trading sessions. V-Guard Industries (up 3.48%), Dixon Technologies (India) (up 2.48%), Blue Star (up 1.84%), Titan Company (up 0.77%), Amber Enterprises India (up 0.55%), Voltas (up 0.34%), Havells India (up 0.24%), Kajaria Ceramics (up 0.21%), Whirlpool of India (up 0.18%) and Bata India (up 0.11%) advanced. On the other hand, Crompton Greaves Consumer Electricals (down 1.61%), TTK Prestige (down 1.46%) and Rajesh Exports (down 1.41%) edged lower. Numbers to Track: The yield on India's 10-year benchmark federal paper shed 0.24% to 7.072 as compared with previous close 7.089. In the foreign exchange market, the rupee is edged lower against the dollar. The partially convertible rupee was hovering at 83.3525, compared with its close of 83.2925 during the previous trading session. MCX Gold futures for 5 April 2024 settlement shed 0.07% to Rs 66,065. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was added 0.09% to 104.39. The United States 10-year bond yield rose 0.10% to 4.237. In the commodities market, Brent crude for May 2024 settlement lost 72 cents or 0.84% to $84.91 a barrel. Stocks in Spotlight: Piramal Enterprises fell 1.62%. The company has invested Rs 2,000 crore in its wholly owned subsidiary, Piramal Capital & Housing Finance (PCHFL) by way of subscription to rights issue. V2 Retail declined 1.93%. The company said that the credit rating agency ICRA has upgraded its rating on the company?s fund-based ? working capital facilities to '[ICRA] BBB? from '[ICRA] BBB-? with 'stable? outlook. Caplin Point Laboratories shed 0.64%. The company said that its wholly owned subsidiary, Caplin One Labs has announced the completion of its Oncology facility at Kakkalur, near Chennai, and immediate commencement of operations.
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The domestic equity benchmark traded in a narrow range in afternoon trade. The Nifty hovered above the 22,150 mark. Oil & gas, realty and auto shares advanced while FMCG, PSU bank and IT stocks edged lower. At 13:27 IST, the barometer index, the S&P BSE Sensex was up 580.96 points or 0.80% to 73,047.72. The Nifty 50 index gained 166.25 points or 0.76% to 22,169.35. In the broader market, the S&P BSE Mid-Cap index rose 0.38% and the S&P BSE Small-Cap index gained 1.09%. The market breadth was negative. On the BSE, 1,839 shares rose and 1,925 shares fell. A total of 123 shares were unchanged. Gainers & Losers: Reliance Industries (up 3.63%), Bajaj Auto (up 3.04%), Maruti Suzuki India (up 2.94%) Adani Ports and Special Economic Zone (up 2.38%) and Bharat Petroleum Corporation (BPCL) (up 1.24%) major Nifty gainers. Britannia Industries (down 1.35%), Nestle India (down 1.20%), Apollo Hospitals Enterprise (down 1.03%) Dr Reddy's Laboratories (down 0.91%) and Hero Motocorp (down 0.67%) were major Nifty losers. Stocks in Spotlight: Dynacons Systems & Solutions zoomed 18.61% after the company announced that it has been awarded a significant contract worth Rs 41.72 crore by the National Payments Corporation of India (NPCI) for a Data Centre Tech Refresh initiative. Wockhardt locked in upper circuit of 5% after pharmaceutical company announced the completion of fundraising of Rs 480 crore through qualified institutional placement (QIP) of equity shares. Larsen & Toubro (L&T) rose 1.14% after the EPC major announced that its construction arm has secured ?large' orders for its Buildings & Factories business in the domestic and international markets. Angel One jumped 7.38% after the stockbroker announced that its board approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 2,555.01 per share. Global Markets: European stocks declined across the board while Asian stocks traded mixed on Wednesday as investors assessed economic data from China and Australia. Investors awaited for Spanish inflation data and French consumer confidence figures for March on Wednesday. China?s combined industrial profit for January and February climbed 10.2% year on year, data showed. Industrial profits fell 2.3% for the whole of 2023. Data from Australia showed consumer price inflation in February rose 3.4% year over year. U.S. stocks slipped on Tuesday as investors awaited economic data in a holiday-shortened week to gauge the Federal Reserve's policy path. The Personal Consumption Expenditure data is due to be released on Friday.
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The key domestic benchmarks traded with strong gains in early afternoon trade. The Nifty marched above 22,150 mark. Auto shares gained after declining in the past trading session. At 12:27 IST, the barometer index, the S&P BSE Sensex was jumped 548.92 points or 0.76% to 73,013.74. The Nifty 50 index added 159.60 points or 0.73% to 22,165.25. In the broader market, the S&P BSE Mid-Cap index rose 0.36% and the S&P BSE Small-Cap index added 0.88%. The market breadth was positive. On the BSE, 1,891 shares rose and 1,823 shares fell. A total of 135 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.39% to 12.77. The Nifty 28 March 2024 futures were trading at 22,172.10, at a premium of 6.85 points as compared with the spot at 22,165.25. The Nifty option chain for the 28 March 2024 expiry showed maximum Call OI of 90.5 lakh contracts at the 22,200 strike price. Maximum Put OI of 154.7 lakh contracts were seen at 22,000 strike price. Buzzing Index: The Nifty Auto gained 1.28% to 21,306.85. The index shed 0.04% in the past trading sessions. Maruti Suzuki India (up 3.25%), Bajaj Auto (up 2.67%), Balkrishna Industries (up 1.7%), TVS Motor Company (up 1.56%), Eicher Motors (up 1.43%), Ashok Leyland (up 1.36%), Bosch (up 1.29%), Tube Investments of India (up 0.7%), Samvardhana Motherson International (up 0.68%) and MRF (up 0.67%) advanced. On the other hand, Hero MotoCorp (down 1%), Sona BLW Precision Forgings (down 0.49%) and Bharat Forge (down 0.14%) edged lower. Stocks in Spotlight: Angel One jumped 5.44% after the stockbroker announced that its board approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 2,555.01 per share. Larsen & Toubro (L&T) rose 1.10% after the EPC major announced that its construction arm has secured ?large' orders for its Buildings & Factories business in the domestic and international markets. Wockhardt locked in upper circuit of 5% after pharmaceutical company announced the completion of fundraising of Rs 480 crore through qualified institutional placement (QIP) of equity shares.
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The key equity indices continued to extend gains in mid-morning trade. The Nifty marched above 22,150 mark. Realty shares witnessed buying demand for the fifth consecutive trading session. At 11:28 IST, the barometer index, the S&P BSE Sensex was jumped 537.39 points or 0.73% to 73,003.98. The Nifty 50 index added 162.90 points or 0.74% to 22,167.60. In the broader market, the S&P BSE Mid-Cap index rose 0.48% and the S&P BSE Small-Cap index added 0.95%. The market breadth was positive. On the BSE, 1,970 shares rose and 1,676 shares fell. A total of 131 shares were unchanged. IPO Update: The initial public offer (IPO) of SRM Contractors received 2,94,37,310 bids for shares as against 43,40,100 shares on offer, according to stock exchange data at 11:30 IST on Wednesday (27 March 2024). The issue was subscribed 6.78 times. The issue opened for bidding on Tuesday (26 March 2024) and it will close on Thursday (28 March 2024). The price band of the IPO is fixed at Rs 200 to 210 per share. An investor can bid for a minimum of 70 equity shares and in multiples thereof. Buzzing Index: The Nifty Realty index gained 1.02% to 897.30. The index climbed 8.21% in five trading sessions. Sobha (up 4.54%), Brigade Enterprises (up 3.23%), Mahindra Lifespace Developers (up 1.66%), Prestige Estates Projects (up 1.61%), Oberoi Realty (up 1.28%), DLF (up 1.05%), Phoenix Mills (up 0.88%), Godrej Properties (up 0.43%) and Macrotech Developers (up 0.43%) advanced. Stocks in Spotlight: Apollo Pipes added 1.64% after the company said that it has entered into definitive agreements and acquired a majority controlling stake in Kisan Mouldings (KML). Sanofi India jumped 4.89% after the compnay announced an exclusive partnership with Cipla for initial period of five years for distribution and promotion of its central nervous system (CNS) product range in India. Shyam Metalics and Energy rose 1.38% after its joint venture (JV); Natural Resources Energy obtained a letter of intent for the grant of a composite licence for the Surjagad-1 iron ore block on an area of 1,526 hectares in Maharashtra. Global Markets: Most of the Asian stocks declined on Wednesday as investors assessed economic data from China and Australia. China?s combined industrial profit for January and February climbed 10.2% year on year, data showed. Industrial profits fell 2.3% for the whole of 2023. Data from Australia showed consumer price inflation in February rose 3.4% year over year. U.S. stocks slipped on Tuesday as investors awaited economic data in a holiday-shortened week to gauge the Federal Reserve's policy path. The Personal Consumption Expenditure data is due to be released on Friday.
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The domestic equity benchmarks traded with substantial gains in the morning trade. The Nifty marched above the 22,100 level. Oil & gas shares witnessed buying demand for the fifth consecutive trading session. At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 468.46 points or 0.64% to 72,935.95. The Nifty 50 index added 136.70 points or 0.62% to 22,141.40. In the broader market, the S&P BSE Mid-Cap rose 0.33% and the S&P BSE Small-Cap index added 0.69%. The market breadth was positive. On the BSE, 2,003 shares rose and 1,492 shares fell. A total of 145 shares were unchanged. Buzzing Index: The Nifty Oil & Gas index advanced 1.35% to 11,457.30. The index rallied 4.96% in five trading sessions. Castrol India (up 2.97%), Reliance Industries (up 2.37%), Aegis Logistics (up 2.32%), Indian Oil Corporation (up 1.94%), Oil India (up 1.43%), GAIL (India) (up 1.3%), Petronet LNG (up 1.24%), Hindustan Petroleum Corporation (up 1.15%), Bharat Petroleum Corporation (up 1.14%) and Oil & Natural Gas Corpn (up 0.89%) advanced. Stocks in Spotlight: Dynacons Systems & Solutions zoomed 17.24% after the company announced that it has been awarded a significant contract worth Rs 41.72 crore by the National Payments Corporation of India (NPCI) for a Data Centre Tech Refresh initiative. Praveg added 2.48% after the company announced the launch of the Safari Velavadar Resort in Gujarat. The Safari Velavadar Resort, nestled in this tranquil setting, features 12 luxurious cottages equipped with modern amenities, offering guests a serene retreat surrounded by nature. Prataap Snacks rose 2.40% after the commercial production at newly set up Unit situated at Samba, Jammu & Kashmir has commenced on 26th March, 2024. The Unit has been set up for the production of extruded namkeen snacks, fried namkeen pellets and other namkeen snacks including popcorn with a total capacity of about 10,000 MT per annum.
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The key equity barometers traded with modest gains in early trade. The Nifty traded above 22,100 level. Barring Healthcare all the other sectoral indices on the NSE were traded in green. At 09:30 IST, the barometer index, the S&P BSE Sensex, was up 337.07 points or 0.47% to 72,807.37. The Nifty 50 index added 100.50 points or 0.46% to 22,105.20. In the broader market, The S&P BSE Mid-Cap index rose 0.50% and the S&P BSE Small-Cap index added 0.81%. The market breadth was strong. On the BSE, 2,048 shares rose and 849 shares fell. A total of 111 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 10.13 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 5,024.36 crore in the Indian equity market on 26 March, provisional data showed. Stocks in Spotlight: Avenue Supermarts shed 0.08%. The company has opened three new stores at Karimnagar (Telangana), Narsingi, Hyderabad (Telangana) and at Sachin, Surat (Gujarat). The total number of stores as on date stands at 357. Central Depository Services (India) (CDSL) dropped 5.15% after the Standard Chartered Bank - Corporate Banking is reportedly likely to sell entire 7.18% stake (75 lakh equity shares) in CDSL for $151 million through a block deal. The floor price for the block deal has been fixed at Rs 1,672 per share, as per reports. Prism Johnson rallied 4.47% after the company said that its board will meet on Friday, 29 March 2024 to consider raising funds via non convertible debentures (NCDs) on private placement basis. Numbers to Track: The yield on India's 10-year benchmark federal paper shed 0.03% to 7.087 as compared with previous close 7.089. In the foreign exchange market, the rupee is edged lower against the dollar. The partially convertible rupee was hovering at 83.3100, compared with its close of 83.2925 during the previous trading session. MCX Gold futures for 5 April 2024 settlement rose 0.01% to Rs 66,119. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.14% to 104.38. The United States 10-year bond yield grew by 0.10% to 4.237. In the commodities market, Brent crude for May 2024 settlement shed 66 cents or 0.77% to $ 84.97 a barrel. Global Markets: Most of the Asian stocks decline on Wednesday as investors assessed economic data from China and Australia. China?s combined industrial profit for January and February climbed 10.2% year on year, data showed. Industrial profits fell 2.3% for the whole of 2023. Data from Australia showed consumer price inflation in February rose 3.4% year over year. U.S. stocks slipped on Tuesday as investors awaited economic data in a holiday-shortened week to gauge the Federal Reserve's policy path. The Personal Consumption Expenditure data is due to be released on Friday.
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The headline equity indices continued to trade in a narrow range with limited losses in mid-afternoon trade. The Nifty traded near the 22,050 mark. Realty shares witnessed buying demand for the fourth consecutive trading sessions. At 14:30 IST, the barometer index, the S&P BSE Sensex was down 255.61 points or 0.36% to 72,569.75. The Nifty 50 index lost 50.90 points or 0.23% to 22,045.85. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.80% and the S&P BSE Small-Cap index added 0.31%. The market breadth was weak. On the BSE, 1,526 shares rose and 2,385 shares fell. A total of 148 shares were unchanged. Economy: India?s foreign exchange (forex) reserves increased $6.396 billion to $642.492 billion for the week ended March 15, according to the latest RBI data. In the previous reporting week, the overall reserves had risen by $10.47 billion to $636.095 billion. Gold reserves increased by $425 million to $51.14 billion during the week, the RBI said. The special drawing rights (SDRs) were up by $65 million to $18.276 billion, the apex bank said. India?s reserve position with the IMF was down by $129 million to $4.689 billion in the reporting week, the apex bank data showed. Buzzing Index: The Nifty Realty index jumped 1.10% to 884.15. The index surged 6.62% in four trading sessions. Phoenix Mills (up 4.7%), Prestige Estates Projects (up 4.01%), Oberoi Realty (up 3.28%), Mahindra Lifespace Developers (up 1.46%), DLF (up 0.81%), Godrej Properties (up 0.44%) and Macrotech Developers (up 0.28%) advanced. On the other hand, Brigade Enterprises (down 3.77%), Swan Energy (down 2.44%) and Sobha (down 2.18%) edged lower. Numbers to Track: The yield on India's 10-year benchmark federal paper advanced 0.01% to 7.088 as compared with previous close 7.087. In the foreign exchange market, the rupee is edged higher against the dollar. The partially convertible rupee was hovering at 83.3000, compared with its close of 83.6150 during the previous trading session. MCX Gold futures for 5 April 2024 settlement rose 0.05% to Rs 66,058. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was shed 0.34% to 104.12. The United States 10-year bond yield fell 0.21% to 4.242. In the commodities market, Brent crude for May 2024 settlement lost 12 cents or 0.14% to $ 85.96 a barrel. Stocks in Spotlight: H.G. Infra Engineering gained 2.04% after its consortium Stockwell Solar Services received a solar project worth Rs 534 crore from Jodhpur Vidyut Vitran Nigam. Vedanta shed 0.52%. The company said that CRISIL Ratings has continued to place the ratings on the bank facilities and debt instruments of the company at 'rating watch with developing implications?. Sanghi Industries fell 1.41% after the company's promoter, Ambuja Cements sold 2% or 51.66 lakh equity shares in open market to comply with minimum public shareholding norms.
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The key equity barometers continued to trade in a narrow range in afternoon trade. The Nifty traded near the 22,050 mark. Realty, oil & gas and metal shares witnessed buying demand while media, bank and IT stocks declined. At 13:28 IST, the barometer index, the S&P BSE Sensex was down 236.28 points or 0.32% to 72,590.96. The Nifty 50 index lost 47.50 points or 0.21% to 22,049.25. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.67% and the S&P BSE Small-Cap index added 0.19%. The market breadth was weak. On the BSE, 1,532 shares rose and 2,317 shares fell. A total of 167 shares were unchanged. Economy: India?s foreign exchange (forex) reserves increased $6.396 billion to $642.492 billion for the week ended March 15, according to the latest RBI data. In the previous reporting week, the overall reserves had risen by $10.47 billion to $636.095 billion. Gold reserves increased by $425 million to $51.14 billion during the week, the RBI said. The special drawing rights (SDRs) were up by $65 million to $18.276 billion, the apex bank said. India?s reserve position with the IMF was down by $129 million to $4.689 billion in the reporting week, the apex bank data showed. Gainers & Losers: Bajaj Finance (up 2.50%), Hindalco Industries (up 2.07%), Britannia Industries (up 1.87%), ONGC (up 1.71%) and Larsen & Toubro (up 1.50%) were major Nifty gainers. Power Grid Corporation of India (down 1.96%), Eicher Motors (down 1.59%), Divis Laboratories (down 1.27%), Wipro (down 1.09%) and Bharti Airtel (down 1.08%) were major Nifty losers. Stocks in Spotlight: Adani Ports and Special Economic Zone rose 1.49% after the company has entered into a definitive agreement to acquire 95% stake of Gopalpur Ports Limited (GPL) from the existing shareholders [about 56% stake from SP Port Maintenance Private Limited (SP Group) and about 39% stake from Orissa Stevedores Limited (OSL)] of GPL. The equity consideration for 95% stake is Rs. 1,349 crore, with an enterprise value of Rs. 3,080 crore. Bharti Airtel fell 1.07%. Bharti Hexacom, a subsidiary of the company, is launching an initial public offering (IPO) to allow existing shareholder TCIL to sell a portion of its holdings. Telecommunications Consultants India (TCIL) will offload 15% stake through offer for sale. Ultratech Cement declined 0.81%. The company said that it has commissioned 1 million ton per annum (MTPA) brownfield cement capacity at Roorkee, Uttarakhand taking the unit?s capacity to 2.1 MTPA. Rail Vikas Nigam (RVNL) jumped 4.76% after the company announced that it has entered into a Memorandum of Understanding (MoU) with the Airports Authority of India (AAI) for the construction of a subway/underpass in Kolkata. Global Markets: Most of the European markets declined while Asian stocks traded higher on Tuesday, as anticipation of more key economic readings this week kept sentiment on edge. U.S. stocks took a breather on Monday amid speculation the Federal Reserve will be able to cut interest rates as soon as June.
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The domestic equity benchmarks continued to trade with minor losses in the early afternoon trade. The Nifty hovered around the 22,050 mark. Oil & gas shares witnessed buying demand for the fourth consecutive trading session. At 12:30 IST, the barometer index, the S&P BSE Sensex was down 215.29 points or 0.29% to 72,618.59. The Nifty 50 index lost 43.15 points or 0.20% to 22,053.60. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.52% and the S&P BSE Small-Cap index added 0.06%. The market breadth was weak. On the BSE, 1,507 shares rose and 2,293 shares fell. A total of 179 shares were unchanged. Economy: India?s foreign exchange (forex) reserves increased $6.396 billion to $642.492 billion for the week ended March 15, according to the latest RBI data. In the previous reporting week, the overall reserves had risen by $10.47 billion to $636.095 billion. Foreign currency assets, a major component of the reserves, increased by $6.034 billion to $568.386 billion, the data showed. Gold reserves increased by $425 million to $51.14 billion during the week, the RBI said. The special drawing rights (SDRs) were up by $65 million to $18.276 billion, the apex bank said. India?s reserve position with the IMF was down by $129 million to $4.689 billion in the reporting week, the apex bank data showed. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 3.88% to 12.70. The Nifty 28 March 2024 futures were trading at 22,117.05, at a premium of 63.45 points as compared with the spot at 22,053.60. The Nifty option chain for the 28 March 2024 expiry showed maximum Call OI of 94.9 lakh contracts at the 22,500 strike price. Maximum Put OI of 130.2 lakh contracts were seen at 22,000 strike price. Buzzing Index: The Nifty Oil & Gas index added 0.81% to 11,313.60. The index rallied 3.65% in four trading sessions. Oil India (up 5.03%), Petronet LNG (up 3.2%), Gujarat Gas (up 2.93%), GAIL (India) (up 2.18%), Adani Total Gas (up 1.95%), Bharat Petroleum Corporation (up 1.48%), Indian Oil Corporation (up 1.36%), Oil & Natural Gas Corpn (up 1.35%), Mahanagar Gas (up 1.01%) and Hindustan Petroleum Corporation (up 0.55%) advanced. On the other hand, Castrol India (down 1.85%), Reliance Industries (down 0.84%) and Gujarat State Petronet (down 0.25%) edged lower. Stocks in Spotlight: Hindustan Aeronautics added 2.84% after the company has signed a contract with Guyana Defence Force, Government of Guyana for supply of aircraft and other equipment for a value of MUSD 23.37(approximately Rs 194 crore). Gandhar Oil Refinery (India) shed 0.91%. The company has announced that it has received a work order from Ajmer Vidyut Vitran Nigam (AVVNL) amounting Rs 17.41 crore. Schaeffler India fell 1.06%. The company has informed that its board has approved the re-appointment of Harsha Kadam, as the managing director (MD) and CEO of the company for a period of three years with effect from October 1, 2024.
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The key equity indices traded in a narrow range with limited losses in the mid-morning trade. The Nifty hovered around the 22,050 mark. Bank shares saw profit booking after advancing in the past two consecutive trading sessions. At 11:28 IST, the barometer index, the S&P BSE Sensex was down 212.12 points or 0.29% to 72,619.82. The Nifty 50 index lost 44.10 points or 0.20% to 22,052.65. In the broader market, the S&P BSE Mid-Cap index rose 0.40% and the S&P BSE Small-Cap index added 0.07%. The market breadth was negative. On the BSE, 1,541 shares rose and 2,169 shares fell. A total of 191 shares were unchanged. Economy: India?s foreign exchange (forex) reserves increased $6.396 billion to $642.492 billion for the week ended March 15, according to the latest RBI data. In the previous reporting week, the overall reserves had risen by $10.47 billion to $636.095 billion. Foreign currency assets, a major component of the reserves, increased by $6.034 billion to $568.386 billion, the data showed. Gold reserves increased by $425 million to $51.14 billion during the week, the RBI said. The special drawing rights (SDRs) were up by $65 million to $18.276 billion, the apex bank said. India?s reserve position with the IMF was down by $129 million to $4.689 billion in the reporting week, the apex bank data showed. IPO Update: The initial public offer (IPO) of SRM Contractors received 32,11,600 bids for shares as against 43,40,100 shares on offer, according to stock exchange data at 11:30 IST on Tuesday (26 March 2024). The issue was subscribed 0.74 times. The issue opened for bidding on Tuesday (26 March 2024) and it will close on Thursday (28 March 2024). The price band of the IPO is fixed at Rs 200 to 210 per share. An investor can bid for a minimum of 70 equity shares and in multiples thereof. Buzzing Index: The Nifty Bank index dropped 0.46% to 46,650.35. The index rose 1.19% in the past two past trading sessions. State Bank of India (down 0.87%), HDFC Bank (down 0.73%), Kotak Mahindra Bank (down 0.55%), ICICI Bank (down 0.52%), IndusInd Bank (down 0.41%) and Axis Bank (down 0.12%) declined. On the other hand, Punjab National Bank (up 0.65%), Bank of Baroda (up 0.44%) and Bandhan Bank (up 0.41%) edged higher. Stocks in Spotlight: UNO Minda added 2.38% after the company announced the signing of a technical license agreement (TLA) with Starcharge Energy for manufacturing and selling electric vehicle supply equipments (EVSE) in India. JSW Energy gained 0.78%. The company said that its step-down subsidiary, JSW Renewable Energy (Coated) has signed a business transfer agreement with Reliance Power to acquire a 45 MW wind project in Maharashtra for Rs 132 crore. Lupin rose 0.2%. The pharma major said that its board has approved to carve out trade generics business in India to its wholly owned subsidiary, Lupin Life Sciences (LLSL) on a slump sale basis. Global Markets: Asian stocks traded mixed as anticipation of more key economic readings this week kept sentiment on edge. U.S. stocks took a breather on Monday amid speculation the Federal Reserve will be able to cut interest rates as soon as June.
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The key equity barometers traded with minor losses in the morning trade. The Nifty traded below the 22,050 mark. Media shares slipped after advancing in the past two consecutive trading sessions. At 10:30 IST, the barometer index, the S&P BSE Sensex, slipped 174.24 points or 0.24% to 72,657.70. The Nifty 50 index lost 49.20 points or 0.22% to 22,047.55. In the broader market, the S&P BSE Mid-Cap rose 0.18% and the S&P BSE Small-Cap index lost 0.08%. The market breadth was negative. On the BSE, 1,484 shares rose and 2,065 shares fell. A total of 212 shares were unchanged. Economy: India?s foreign exchange (forex) reserves increased $6.396 billion to $642.492 billion for the week ended March 15, according to the latest RBI data. In the previous reporting week, the overall reserves had risen by $10.47 billion to $636.095 billion. Foreign currency assets, a major component of the reserves, increased by $6.034 billion to $568.386 billion, the data showed. Gold reserves increased by $425 million to $51.14 billion during the week, the RBI said. The special drawing rights (SDRs) were up by $65 million to $18.276 billion, the apex bank said. India?s reserve position with the IMF was down by $129 million to $4.689 billion in the reporting week, the apex bank data showed. Buzzing Index: The Nifty Media index fell 0.77% to 1,835.50. The index advanced 3.06% in the past two trading sessions. Dish TV India (down 2.8%), Saregama India (down 1.73%), Hathway Cable & Datacom (down 1.72%), D B Corp (down 1.69%) and Zee Entertainment Enterprises (down 1.23%) and PVR Inox (down 0.76%) declined. On the other hand, TV18 Broadcast (up 0.81%), Nazara Technologies (up 0.47%) and Network 18 Media & Investments (up 0.33%) edged higher. Stocks in Spotlight: Dabur India shed 0.64%. ICRA has reaffirmed its rating on the long-term debt instruments of the company at '[ICRA] AAA? with 'stable? outlook. ICRA stated that the reaffirmation of ratings factors in Dabur India's (Dabur) continued healthy operating and financial performance, as reflected in its healthy volume growth (across product categories), robust cash flows, strong balance sheet and superior liquidity position. Rail Vikas Nigam (RVNL) jumped 4.04% after the company announced that it has entered into a Memorandum of Understanding (MoU) with the Airports Authority of India (AAI) for the construction of a subway/underpass in Kolkata. Zydus Lifesciences fell 0.44%. The company announced that it has received tentative approval from the United States Food and Drug Administration (USFDA) to market Letermovir tablets. The drug had annual sales of $289.5 million in the United States.
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The key equity benchmarks traded with limited losses in early trade. The Nifty traded below the 22,100 mark. Barring Metal index all the other sectoral indices on the NSE were traded in red. At 09:25 IST, the barometer index, the S&P BSE Sensex, was down 164.67 points or 0.23% to 72,667.27. The Nifty 50 index declined 43.60 points or 0.20% to 22,053.15. In the broader market, the S&P BSE Mid-Cap index added 0.02% while the S&P BSE Small-Cap index fell 0.14%. The market breadth was positive. On the BSE, 1,580 shares rose and 1,400 shares fell. A total of 204 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 3,309.76 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,764.87 crore in the Indian equity market on 22 March, provisional data showed. Numbers to Watch: The yield on India's 10-year benchmark federal paper rose 0.03% to 7.089 from previous close of 7.087. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.3450, compared with its close of 81.6150 during the previous trading session. MCX Gold futures for 5 April 2024 settlement declined 0.20% to Rs 65,893. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.22% to 102.24. The United States 10-year bond yield fell 0.28% to 4.239. In the commodities market, Brent crude for May 2024 settlement dropped 2 cents or 0.02% to $86.75 a barrel. Stocks in Spotlight: Adani Ports and Special Economic Zone rose 1.26% after the company has entered into a definitive agreement to acquire 95% stake of Gopalpur Ports Limited (GPL) from the existing shareholders [about 56% stake from SP Port Maintenance Private Limited (SP Group) and about 39% stake from Orissa Stevedores Limited (OSL)] of GPL. The equity consideration for 95% stake is Rs. 1,349 crore, with an enterprise value of Rs. 3,080 crore. Bharti Airtel fell 0.94%. Bharti Hexacom, a subsidiary of the company, is launching an initial public offering (IPO) to allow existing shareholder TCIL to sell a portion of its holdings. Telecommunications Consultants India (TCIL) will offload 15% stake through offer for sale. Ultratech Cement declined 0.48%. The company said that it has commissioned 1 million ton per annum (MTPA) brownfield cement capacity at Roorkee, Uttarakhand taking the unit?s capacity to 2.1 MTPA. Global Market: Asian stocks traded mixed as anticipation of more key economic readings this week kept sentiment on edge. U.S. stocks took a breather on Monday amid speculation the Federal Reserve will be able to cut interest rates as soon as June.
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The key equity benchmarks traded near intraday high with decent gains in the mid-afternoon trade. The Nifty scaled above the 22,100 level after hitting day?s low of 21,883.30 in early trade. Auto shares extended gains for the third consecutive trading sessions. At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 309.77 points or 0.43% to 72,950.96. The Nifty 50 index added 134.45 points or 0.61% to 22,146.40. In the broader market, the S&P BSE Mid-Cap index rose 0.47% and the S&P BSE Small-Cap index gained 1.20%. The market breadth was strong. On the BSE, 2,442 shares rose and 1,299 shares fell. A total of 121 shares were unchanged. Buzzing Index: The Nifty Auto Index gained 2.08% to 21,131.05. The index rallied 3.81% in the three trading session. Hero MotoCorp (up 4.19%), Maruti Suzuki India (up 3.74%), Bajaj Auto (up 2.62%), Bharat Forge (up 2.36%), Eicher Motors (up 2.11%), Tata Motors (up 1.9%), Mahindra & Mahindra (up 1.56%), Bosch (up 1.14%), TVS Motor Company (up 1.02%) and Sona BLW Precision Forgings (up 0.98%) advanced. Numbers to Track: The yield on India's 10-year benchmark federal paper advanced 0.20% to 7.064 as compared with the previous close of 7.050. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.3450, compared with its close of 83.1375 during the previous trading session. MCX Gold futures for 5 April 2024 settlement shed 0.42% to Rs 65,910. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.93% to 104.38. The United States 10-year bond yield declined 0.68% to 4.242. In the commodities market, Brent crude for May 2024 settlement lost 28 cents or 0.33% to $85.50 a barrel. Stocks in spotlight: KEC International rose 0.94%. The company has secured new orders worth Rs 1,004 crore across its various businesses. Bank of India added 1.19% after the public lender informed that its board is scheduled to meet on Wednesday, 27 March 2024 to consider proposal of fund raising by way of long-term (infra) bonds.
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The key equity indices continued to extend gains in the afternoon trade. The Nifty marched above the 22,100 level. Barring the Nifty IT index, all the sectoral indices on the NSE traded in the green. At 13:26 IST, the barometer index, the S&P BSE Sensex, was up 204.99 points or 0.28% to 72,846.18. The Nifty 50 index rose 93.20 points or 0.42% to 22,105.15. In the broader market, the S&P BSE Mid-Cap index rose 0.38% and the S&P BSE Small-Cap index advanced 1.17%. The market breadth was strong. On the BSE, 2,492 shares rose and 1,209 shares fell. A total of 117 shares were unchanged. Gainers & Losers: Maruti Suzuki India (up 4.17%), UPL (up 3.55%), Hero MotoCorp (up 3.34%), Bajaj Auto (up 2.70%) and Sun Pharmaceutical Industries (up 2.62%) were major Nifty gainers. LTIMindtree (down 2.53%), Wipro (down 2.46%), Infosys (down 2.38%), HCL Technologies (down 2.21%) and Tata Consultancy Services (down 1.40%) were major Nifty losers. Wipro declined 2.46%. Wipro?s step-down subsidiary, Wipro IT Services LLC has entered into an agreement with General Motors and Magna International, to incorporate a new entity i.e., SDVerse LLC. The said transaction has been completed on 20 March 2024. Stocks in Spotlight: L&T rose 0.17%. The meeting of the board of directors of the company is scheduled on 27 March 2024 to consider and approve fund raising including by way of debt issue. Sarda Energy & Minerals zoomed 13.10% after the company?s subsidiary joint venture Natural Resources Energy received the letter of intent (LoI) for composite licence for Surjagad-1 iron ore block in the state of Maharashtra. Gensol Engineering was locked in upper circuit of 5% after it secured a turnkey EPC order from a leading power generation utility in Maharashtra worth Rs 520 crore. Global Markets: Markets in Europe advanced while Asian stocks traded mostly lower on Friday as investors assessed Federal Reserve's policy outcome. Nikkei 225 crossed 41,000 to hit a fresh all-time high on Friday as Japan inflation accelerated in February. Japan's headline consumer price rose to 2.8% on year in February, from 2.2% in January. U.S. stocks hit fresh records, continuing its rally after the U.S. Federal Reserve held rates steady and maintained its rate cut forecast for 2024. The Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% on Thursday even though inflation continues to drop from multi-decade peaks.
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