Click it and Unblock the Notifications
Stock Market Live Updates: Nifty Ends Above 22,450, Sensex Up 10 Pts; Metal Outshine
On Thursday, benchmark indices traded flat as Nifty ended 10.55 pts higher or (0.047%) to close at 22,484.60 while Sensex added 9.44 points higher or (0.013%) at 74,095.43 tracking the surge in Asian market peers after US Fed Reserve Jerome Powell indicated likely rate cuts and ruled out near-term risks of economic recession. Shares of Tata Chemicals jumped 11% in trade today to 1308.90 apiece.
Shares of Rallis India Ltd witnessed sharp rally of 11.81% in trade today to 284.50 apiece. From the pack of Sensex, the top gainers include Tata Motors, Tata Steel, Asian Paints, and JSW Steel. Shares of Axis Bank, Reliance, and ICICI Bank emerged as the top laggards.
On March 6, the 30-pack Sensex crossed above 74,000 points for the first time, sparking a spectacular rally in the market that saw it rise 1% from the day's low and to all-time highs.
The Nifty closed at 22,474, up 117.70 points, or 0.53 percent, and the Sensex at 74,085.99, up 408.86 points, or 0.55 percent. This was the best ending ever for both indexes.
Gift Nifty
The GIFT Nifty, which gained 55.50 points, or 0.25 percent, suggests that the wider index in India is off to a good start. The 22,646.50 level was the trading range for the Nifty futures.
US Market
The benchmark US Treasury yield fell to a one-month low on Wednesday as Wall Street led global stocks to a higher close. This came as Federal Reserve Chair Jerome Powell reassured investors that rate cuts this year are still possible even though inflation is not completely under control stock market live.
The S&P 500 gained 26.11 points, or 0.51 percent, to 5,104.76, the Nasdaq Composite added 91.96 points, or 0.58 percent, to 16,031.54, and the Dow Jones Industrial Average increased by 75.86 points, or 0.2 percent, to 38,661.05.
Gold All Time High
On Wednesday, gold reached a new high, fueled primarily by speculations on US monetary easing. Meanwhile, autocatalyst palladium rebounded above $1,000 for the first time since January 12.
Spot gold increased by 0.6 percent to $2,139.39 an ounce during the session, having earlier reached an all-time high of $2,148.99. US gold futures increased to $2,147.60, up 0.3 percent. Silver increased by 1.2% to $23.97.
FII & DII Data
According to preliminary NSE statistics, on March 6, domestic institutional investors (DIIs) bought equities worth Rs 2,149.88 crore, while foreign institutional investors (FIIs) net bought shares for Rs 2,766.75 crore.
Asian Market
As investors awaited trade statistics from Australia and China on Thursday, the Nikkei 225 index in Japan reached a new record high.
The Nikkei 225 began 0.8% higher, breaking the previous record set by 40,314.64.
Axis Bank Shares In Focus
The committee of whole-time directors of Axis Bank Limited, has approved the allotment of 3,85,100 Fully Paid, Senior, Rated, Listed, Unsecured, Taxable, Redeemable, Long Term Non-Convertible Debenture (Series –7) of face value Rs. 1,00,000/- each (Debentures) at par aggregating to Rs. 3,851 crore at a coupon rate of 7.64% p.a. payable annually, on a private placement basis. The tenure of the instrument is 10 years, March 7, 2024 has been fixed as the date of allotment and March 7, 2034 has been fixed as date of maturity. The above NCDs are rated “CRISIL AAA/Stable” by CRISIL Ratings Limited and “[ICRA]AAA/Stable” by ICRA Limited.
Tata Motors Announces Price Hike of Its Commercial Vehicles From April 2024
The largest manufacturer of commercial vehicles in India, Tata Motors, has said that today it would raise the price of its commercial vehicles by up to 2% starting on April 1, 2024. The goal of the price increase is to counteract the remaining effects of previous input expenses. The price rise will be applied to the full range of commercial vehicles, but it may differ depending on the specific model and version.
Housing & Urban Development Corporation Shares In Focus
On March 7, 2024, in Mumbai, Housing and Urban Development Corporation Limited (HUDCO) and Maharashtra State Electricity Distribution Company Limited (Mahavitaran) signed a Memorandum of Understanding (MoU) for the provision of credit up to Rs 5000 crore for the largest feeder level solarization scheme in India under the PM-KUSUM Scheme. In the presence of Shri Devendra Fadnavis, Hon'ble Deputy Chief Minister of Maharashtra, the Memorandum of Understanding was signed by Shri Sanjay Kulshrestha (CMD, HUDCO) and Shri Lokesh Chandra, IAS (CMD, Mahavitaran).
FII-Backed Penny Stock Hits 5% Upper Circuit On Yet Another Patent Win
Small cap company Vikas Lifecare Ltd shares today hit upper circuit after it informed via its BSE filing about receiving another patent from the Indian Patent Office for Innovative Multi-Layered Plastic Recycling Process. Current market price of Vikas Lifecare shares on BSE is Rs 5.97 apiece with intraday rally of 4.92%. Vikas Lifecare shares declined 18% in last 1-month and soared 52% in last 1-year. Vikas Lifecare Shares Zoom On Getting Another Patent: As per the regulatory filing of Vikas Lifecare dated March 7, 2024, “Vikas Lifecare Limited (VLL), is pleased to announce the granting of a new patent by the Indian Patent Office, Government of India, for its innovative process for Recycling of Multi-Layered Plastics and converting these into granules and products for Societal Applications. Patent No. 513213, with application number 202111047308, was granted on February 21, 2024.
CNG Becomes Cheaper In Delhi: IGL Cuts CNG Prices In National Capital, Check New Rates
After Mumbai, Compressed Natural Gas has become cheaper in Delhi as Indraprastha Gas Limited (IGL) has reduced the prices of CNG by Rs 2.5 per kg. New prices will become effective in National Capital Region (NCR) and in some cities of Haryana too. After price cut, CNG in Delhi will now cost Rs 74.09 per kg. CNG was previously priced Rs 76.59 in National Capital. IGL also shared the update on X (formerly Twitter) adding, “The retail consumer price of CNG is being reduced by Rs 2.50 per kg across all geographical areas of IGL from 6 am on Thursday, 7th March 2024." The new price of CNG in Delhi will be Rs 74.09 per kg, Rs 78.70 per kg in Noida, Greater Noida and Ghaziabad GA from 6 am tomorrow morning, according to IGL. CNG will now cost Rs 78.70 per kg in Noida, Greater Noida, and Ghaziabad. In Gurugram, new CNG prices will be Rs 80.12 per kg after reduction in prices. Meanwhile, if you are in Rewari, CNG will cost Rs 78.70 per kg and in Karnal, it shall cost Rs 80.43 per kg.
NLC India Shares Fall 3% As Govt Plans To Sell 7% Stake Via Open Offer
Shares of NLC India witnessed decline of approximately 3% after reports surfaced that government was planning to sell nearly 7% stake in the company through offer for sale from March 7 to 11. Current market price of NLC India shares on BSE is Rs 223.00 apiece with intraday fall of 1.63%. NLC India shares zoomed 173% in last 1-year only. It operates in power generation sector.
Tata Chemicals Shares Rise 35% In Just 6 Trading Sessions
Tata Chemicals has witnessed a substantial surge of almost 35% in its shares over the past six sessions. The momentum behind this recent upswing is attributed to a Spark Capital note dated March 4. The note indicated that Tata Sons, the parent entity of the Tata Group, might undergo listing within the next 18 months. This speculation arises from the Reserve Bank of India's classification of Tata Chemicals as an upper-layer Non-Banking Financial Company (NBFC).
Phoenix Mills' Stock Rises 4% as HSBC Increases its Target Price, Implying a 15% Upside.
Phoenix Mills' stock increased by about 3.7 percent as a result of HSBC's countermovement increase in target price. The foreign lender raised the target price to Rs 3,130 per share and kept its 'buy' call on Phoenix Mills. from the finish of the previous session, which was Rs 2,707.3, suggesting a 15.6% increase. According to HSBC, the company has evolved from being a mall operator to a diverse and growth-oriented enterprise, which is reflected in the present valuation. High double-digit growth will be driven by the office portfolio and the new malls stabilising, according to HSBC.
North Central Railway Places an Order For Rs 135 Cr with GPT Infraprojects
GPT Infraprojects: North Central Railway, Agra, has placed an order with the infrastructure provider for Rs 135 crore. This deal is a joint venture in which GPT owns a 51 percent part.
LIC raises its investment in the LIC Mutual Fund from 40.93% to 44.61%
LIC Mutual Fund Asset Management now has more shares owned by Life Insurance Corporation of India thanks to a private placement. The Corporation's stake in LIC MF rose from 40.93% to 44.61% of the paid-up capital following the aforementioned private placement.
Rupee Falls 0.6 Paise Against US Dollar In Morning Trade
Indian rupee fell by 0.6 paise against US Dollar in morning trade on Thursday
The Promoter of M&M Wants to Sell a 5 Million Interest Through a Block Sale
In order to generate about 5 million through a block sale, a promoter group business is expected to sell about 0.75% of M&M, according to various sources familiar with the matter. The offer price range for the block deal, which has been issued, is Rs 1,911.5 to Rs 1,970.65 per share.
Rupee Begins:
Against the previous finish of 82.82, the Indian rupee opened flat at 82.83 per dollar.
The Chandigarh UT Government was Criticised by Congress Leader Pawan Kumar Bansal for Abandoning the Employee Housing Programme in 2008
UT administration's decision to shelve the staff housing project has drawn criticism from Pawan Kumar Bansal, a former Union minister and Congress leader. After the UT Administration informed the Punjab and Haryana High Court that it would not move further with the "2008 UT Employees Self Financing Housing Scheme," Bansal made his comments. Numerous current and former UT workers have been deeply impacted by this decision. According to the TOI report, the government promised to return the money placed by the petitioners and the other applicants in the affidavit that was filed with the High courts of Punjab and Punjab.
US Dollar Falls
Amidst some positive inflation surprises, traders focused on the possibility that U.S. interest rates will likely decline this year, which caused the U.S. dollar to weaken and reach a one-month low versus the yen on Thursday.
DGGI Takes Action Against Prataap Snacks, ITC, and Parties for Suspected Tax Evasion
The Directorate General of GST Intelligence (DGGI) has launched actions against FMCG companies, including ITC, Prataap Snacks, PepsiCo, Balaji Wafers, RP Sanjiv Goenka Group, and others, for alleged tax evasion. This is a significant move that targets several major players in the FMCG sector according to media source.
Sign in with Google