Home / Markets / Live Blog /  Sensex up 231 pts, Nifty ends above 17.2K in choppy trade; Banks shine, IT drags

Sensex up 231 pts, Nifty ends above 17.2K in choppy trade; Banks shine, IT drags

Market Closing: Indian indices added over 0.40% on Monday, tracking mixed global cues. (MINT_PRINT)Premium
Market Closing: Indian indices added over 0.40% on Monday, tracking mixed global cues. (MINT_PRINT)

  • Market Closing: Indian indices snapped a 3-day losing streak on Monday amid high volatility as Sensex added over 231 points to close at 56,425, while Nifty ended at 17,222, up 69 points. Indices were trading sharply lower in opening trade before making a smart recovery.

Indian indices on Monday avoided a fourth straight session of losses after rebounding around 800 points, tracking positive cues from Asian markets. The Monday session witnessed volatility as crude prices dipped and markets hoped for positive developments in the ceasefire talks between Russia and Ukraine, while the lockdown in Shanghai due to Covid soured the sentiments. In Asia, shares in Japan and South Korea declined, while that in Australia, Shanghai, and Hong Kong advanced on Monday at close.

28 Mar 2022, 03:44:26 PM IST

Sensex up 231 pts, Nifty ends above 17,200 in choppy trade; Oil & Gas, banks shine

Indian indices climbed higher on Monday amid volatility, snapping a 3-day losing streak, as shares in Asian market largely remained positive. Hopes of positive development in the talks between Russia and Ukraine, and decline in oil prices boosted sentiments, while Covid lockdown in Shanghai renewed worries of supply constraints.

The Sensex added 231.29 points, or 0.4%, to close at 57,593.49, while Nifty50 gained 69 points to end at 17,222. Strong buying support was seen in bank, oil & gas, and metal stocks, while IT, pharma, capital goods were among the laggards.

On the 30-stock index, the most gains were made by Bharti Airtel, Axis Bank, SBI among others, while DRL, Nestle India, and HDFC were the top losers.

The stocks of PVR (over 3%) and INOX (over 11%) soared after the announcement of their merger.

On Nifty50, Bharti Airtel, Coal India, and Axis Bank made the biggest gains, while UPL, SBI Life, and DRL were among the top laggards.

Sensex at close
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Sensex at close
28 Mar 2022, 03:22:39 PM IST

Nifty50 trades above 17,200

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28 Mar 2022, 03:09:39 PM IST

NSE co-location case: Chitra Ramkrishna's judicial custody extended till 11 April

A Delhi court on Monday extended the judicial custody of former managing director and chief executive officer of National Stock Exchange (NSE) Chitra Ramkrishna till 11 April in connection with the NSE co-location case.

28 Mar 2022, 03:00:52 PM IST

Bharti Airtel leads the pack; Sensex rise 180 points

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28 Mar 2022, 02:43:15 PM IST

Coriander futures rise on demand

Coriander prices on Monday rose by 44 to 10,900 per quintal in the futures trade as speculators widened their holdings tracking firm trend at the spot market.

On the National Commodity and Derivatives Exchange, coriander contracts for April delivery went up by 44 or 0.41 per cent to 10,900 per quintal with an open interest of 11,680 lots.

28 Mar 2022, 02:37:11 PM IST

T+1 Settlement in Stock Markets - Views of YES SECURITIES

Mr. Anshul Arzare, Chief Business Officer – Wealth Broking, YES SECURITIES: Ideally, the brokerage industry should move to T-Day settlement rather than T+1 or T+2. With the advancement in technology and new-age digital platforms, it is possible to achieve this milestone. Retail investors looking to carry forward their margin positions for a longer duration already have the multilateral trading facility (MTF) option. Hence, why wait for T+2 or T+1 for funds settlement as brokerage houses can execute it seamlessly on the same day

28 Mar 2022, 02:33:19 PM IST

Axis Securities recommends a BUY on Healthcare Global Enterprise with a target price of Rs. 330

28 Mar 2022, 02:18:41 PM IST

Yatra Online files IPO papers to raise 750 crore

Travel service provider Yatra Online Ltd on Monday said it has filed a draft prospectus with markets regulator Sebi for its initial public offering that includes a fresh issue of shares aggregating up to 750 crore.

Yatra also announced the appointments of Rohit Bhasin, Deepa Misra Harris and former bureaucrat Ajay Narayan Jha as non-executive independent directors.

28 Mar 2022, 02:05:27 PM IST

A volatile ride for Nifty50

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28 Mar 2022, 01:47:06 PM IST

BSE Metals gain 0.75%

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28 Mar 2022, 01:28:03 PM IST

Sensex volume toppers

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28 Mar 2022, 01:14:43 PM IST

Rupee falls 11 paise to 76.35 against US dollar in early trade

The rupee declined 11 paise to 76.35 against the US dollar in the opening trade on Monday following a negative trend in domestic equities amid concerns over fresh foreign capital outflows.

A strengthening US dollar in the overseas market also affected market sentiment, forex traders said.

At the interbank foreign exchange, the rupee opened sharply lower at 76.36 against the US dollar and was moving in a tight range. Later, it rose slightly to quote 76.35, a fall of 11 paise from the previous close.

In the previous session, the rupee had settled at 76.24 against the US dollar.

Global oil benchmark Brent crude futures slipped 2.50 per cent to USD 117.63 per barrel.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, surged 0.31 per cent to 99.12.

28 Mar 2022, 01:04:42 PM IST

Amid fresh global surge, is India at further risk of covid waveC

After a brief lull in the spread of covid-19, several European and Asia-Pacific countries recorded severe spikes in infections earlier this month. Despite high vaccination cover, South Korea, Germany, Austria and New Zealand even registered their highest single-day infection counts ever. Yet, India just resumed regular overseas flights and is all set to end official containment measures this week. Are we really safe from the latest global wave?

28 Mar 2022, 12:48:11 PM IST

Godrej Properties to develop a 33-acre residential project in South Bengaluru

Godrej Properties Ltd on Monday announced that it has entered into an agreement to develop a 33-acre land parcel in Bengaluru and expects around 2,000 crore revenue from this upcoming residential project.

28 Mar 2022, 12:34:26 PM IST

Veranda Learning Solutions IPO opens tomorrow: Key things to know

The IPO of Veranda Learning Solutions will open tomorrow and the digital learning platform has fixed the price band at 130-137 per share for its 200 crore public offer. The IPO of Veranda Learning Solutions will remain open till March 31. The offer consists of a fresh issue of 200 crore. After being subdued for some time, primary market will see share sales of two companies this week: Veranda Learning and UMA Export.

28 Mar 2022, 12:23:30 PM IST

Ruchi Soya FPO last day: Issue subscribed 1.4 times

Ruchi Soya's last day to subscribe to the FPO (Follow on pubic offer) is today March 28. The Patanjali Group subsidiary has so far received a tepid response from the investors.

28 Mar 2022, 12:08:32 PM IST

Nifty Pharma Index - alive and kicking

The Nifty Pharma index is underperforming the benchmark NSE Nifty index since September 2020 after the new normal.

28 Mar 2022, 11:57:56 AM IST

Nifty Pharma declines 0.68%

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28 Mar 2022, 11:53:16 AM IST

Nifty Auto index falls 0.20%

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28 Mar 2022, 11:42:51 AM IST

BSE Banks down 0.82%

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28 Mar 2022, 11:34:05 AM IST

Merger with PVR takes Inox Leisure’s shares above pre-covid highs

Shares of PVR Ltd and Inox Leisure Ltd jumped in Monday’s morning trade on NSE. This is after both companies announced a merger on Sunday. Inox’s shares rose about 13% to Rs531 apiece, surpassing their pre-covid highs of Rs495 per share seen on 24 February 2020. In comparison, PVR’s shares rose by around 8% and are marginally lower than their pre-covid highs.

28 Mar 2022, 11:27:07 AM IST

Sensex slips below 57,000

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28 Mar 2022, 11:22:04 AM IST

Sectoral indices

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28 Mar 2022, 11:06:23 AM IST

Nifty50 declines

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28 Mar 2022, 11:01:58 AM IST

Broad market indices

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28 Mar 2022, 10:53:52 AM IST

Kalyan Jewellers to appoint former CAG Vinod Rai as chairman

Kalyan Jewellers India Limited today announced board approval for the appointment of Vinod Rai as the chairman and independent non-executive Director on the Board of the Company. The appointment will be subject to obtaining requisite regulatory and shareholders’ approvals.

28 Mar 2022, 10:43:11 AM IST

A US recession warning? Part of yield curve inverts for first time in 16 years

Treasuries slumped anew to send a widely-watched part of the U.S. yield curve to its first inversion in 16 years. The curve is flattening as investors bet the Federal Reserve will tighten policy rapidly enough to risk a sustained slowdown in growth.

28 Mar 2022, 10:35:07 AM IST

Base Metal report by Saish Sandeep Sawant Dessai, research associate- Base Metals at Angel One

Since the resumption of LME Nickel trading post the short squeeze fiasco, the prices climbed 13 percent hitting the upper limit during the week. The industrial metals pack witnessed a mixed set of action as all the metals posted gains except for Copper, which was marginally down by 0.3 percent.

The industrial metals surged as the tension between Russia and Ukraine continue to mount after the former laid down an attack on Ukraine, dropping two powerful bombs on the besieged city of Mariupol. In light of continuous sanctions imposed by the western allies, the Australian government suspended the exports of alumina and aluminum ores, including bauxite, to Russia will have an impact on Rusal, the country's largest aluminum producer.

About 19% of its alumina is imported from Australia. With the ban in place, Rusal faces a 19% cut in its alumina requirements. This will aggravate an already strained supply chain, prompting concerns of a supply shortage of the metal.

However, hawkish commentary from the Federal Reserve chair would likely be a headwind for the metal prices. The tight supply market and inventory constraints will keep base metal prices elevated.

28 Mar 2022, 10:26:14 AM IST

Technical & Derivatives report by Mr. Sameet Chavan, chief analyst-technical and derivatives, Angel One Ltd

Boredom continued in our market as on Friday after a gap up there was no major traction and after a gradual decline throughout the session, Nifty ended with a cut of 0.41% tad above 17150.

In a previous couple of weeks, our markets have already weathered the storm and managed to give a remarkable recovery of nearly 10% in such a short span. So some sort of respite was very much on cards and this is what we had mentioned in our previous weekly commentary that the market may not have the similar kind of strength/pace that it had in the previous weeks. Whenever the market struggles around key levels, it generally happens in two scenarios. Firstly, when the market is sensing some unpleasant event or when it gives a sharp up move in quick succession and needs some breather before resuming higher. Although, we are not completely out of the woods if we take Russia-Ukraine tensions into the consideration, chaotically we cannot think of the first scenario at this moment. This week’s price behavior aptly suits the second scenario which in technical terms can be described as a ‘Time-wise Correction’. Let’s see how things unfold and if there is no aberration globally, we are most likely to hold the sacrosanct support zone of 17000 – 16900.

The first half of this week would certainly give us a fair idea of the short-term direction. Till then 17350 – 17450 are to be considered as immediate hurdles. Last week, IT, Reliance, Metal, and to some extent Pharma counters provided the helping hand; but banking kept sulking in the latter half. Since the banking index has approached its key support zone, we hope to take some charge from hereon. Apart from this, the broader market did extremely well this week and we expect it to continue in the coming week as well. Hence traders can look to identify such potential themes to fetch higher returns.

28 Mar 2022, 10:04:25 AM IST

Top Sensex losers

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28 Mar 2022, 10:03:05 AM IST

Top Sensex gainers

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28 Mar 2022, 10:02:17 AM IST

Indices under pressure

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28 Mar 2022, 09:59:47 AM IST

Income tax: Here is why March 31 is important for taxpayers

The ongoing Financial Year 2021-22 is coming to an end on March 31, 2022. The end of any financial is crucial for salaried taxpayers. Make sure as an assessee you complete a few important things before March 31. Let's take a look at a few important things before March 31.

28 Mar 2022, 09:55:58 AM IST

India leans toward continued import of Russian coking coal: Minister

India is leaning toward continuing to import coking coal from Russia, the steel minister said on Sunday, seeming to buck a global trend to shun Moscow over its invasion of Ukraine.

"We are moving in the direction of importing coking coal from Russia," Ramchandra Prasad Singh told a conference in New Delhi.

India plans to double imports of Russian coking coal, a key ingredient in making steel, the minister said. He said the country had imported 4.5 million tonnes but did not indicate the period he was referring to.

28 Mar 2022, 09:47:03 AM IST

PVR soars after merger with INOX

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28 Mar 2022, 09:46:03 AM IST

Inox shares rise over 13% after merger with PVR

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28 Mar 2022, 09:35:43 AM IST

Gold, silver rates today fall for second day in a row

Gold and silver were under pressure today in domestic markets, tracking softness in global rates. On MCX, gold futures were down 0.24% to 51,750 per 10 gram while silver rates dipped 0.4% to 68550 per kg. In global markets, Spot gold fell 0.6% to $1,947.04 an ounce as the U.S. dollar strengthened, sapping demand for the safe-haven asset after a weekly advance.

28 Mar 2022, 09:22:13 AM IST

Nifty50 at open

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28 Mar 2022, 09:21:25 AM IST

Sensex at open

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28 Mar 2022, 09:13:29 AM IST

Mcap of 7 of top-10 valued firms tumble over ₹1.14 lakh cr

The combined market valuation of seven of the top-10 valued firms tumbled 1,14,201.53 crore last week, dragged down by Hindustan Unilever and HDFC twins.

Last week, the BSE benchmark index declined 501.73 points or 0.86 per cent.

While HDFC Bank, ICICI Bank, Hindustan Unilever Limited, State Bank of India, Bajaj Finance, HDFC and Bharti Airtel were among the laggards from the top-10 pack, Reliance Industries Limited, Tata Consultancy Services and Infosys were the three gainers.

The market valuation of Hindustan Unilever tumbled 34,785.7 crore to reach 4,59,121.88 crore.

HDFC Bank's valuation tanked 26,891.57 crore to 7,93,855.60 crore.

The valuation of HDFC eroded by 20,348.29 crore to 4,17,511.38 crore and that of ICICI Bank plunged 14,372.87 crore to 4,85,801.96 crore.

State Bank of India's market capitalisation (mcap) declined by 10,174.05 crore to 4,37,618.33 crore and that of Bharti Airtel went lower by 7,441.7 crore to 3,89,522.03 crore.

The valuation of Bajaj Finance dipped 187.35 crore to 4,22,138.56 crore.

In contrast, Reliance Industries added 79,188.07 crore taking its valuation to 17,56,635.40 crore.

The valuation of Tata Consultancy Services jumped 12,114.39 crore to 13,71,589.75 crore.

Infosys market capitalisation also gained 9,404.12 crore to 7,89,352.44 crore.

In the ranking of the top-10 most valued firms, Reliance Industries leading the chart followed by Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, State Bank of India, Bajaj Finance, HDFC and Bharti Airtel.

28 Mar 2022, 09:10:48 AM IST

Nifty50 at pre-open

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28 Mar 2022, 09:09:41 AM IST

Sensex at pre-open

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28 Mar 2022, 09:00:23 AM IST

Gold jeweller Joyalukkas plans to raise $300 million IPO. See details here

Gold jeweller Joyalukkas India Ltd. plans to raise as much as 23 billion rupees ($300 million) from an initial share sale, seeking to tap into the growing demand for the precious metal in the world’s second-biggest consumerm according to Bloomberg report. The proceeds from the issue will be used to pay back some loans and to open new stores, the company said in a draft prospectus.

28 Mar 2022, 08:46:00 AM IST

Day trading guide for Monday

8 stocks to buy or sell today — 28th March

28 Mar 2022, 08:29:58 AM IST

Petrol, diesel prices today: Sixth hike in prices of petrol, diesel in 7 days. Check latest rates

The prices of petrol and diesel were hiked again on Monday, for the sixth time in a week, leading to an increase of 4.00 and 4.10 per litre respectively since Tuesday. Petrol and diesel after the hike of 30 paise and 35 paise respectively in Delhi are now being sold at 99.11 per litre and 90.42 per litre today.

28 Mar 2022, 08:21:02 AM IST

Top picks of Angle One: Suprajit Engg. (SEL)

We believe SEL is prime beneficiary of ramp-up in production by OEMs across the globe and is well insulated from threat of EV (is developing new products). Its premium valuations are justified in our opinion owing to strong outlook and top-grade quality of earnings.

28 Mar 2022, 08:06:55 AM IST

Top picks of Angle One: Ashok Leyland

We believe that the company is ideally placed to capture the growth revival in the CV segment and will be the biggest beneficiary of the Government’s voluntary scrappage policy and hence rate the stock a BUY.

28 Mar 2022, 08:03:25 AM IST

Oil falls as China’s virus flare-up worsens, Yemeni rebels pause

Oil retreated as China’s worsening virus resurgence raised concerns about demand in the world’s biggest crude importer, while rebels in Yemen announced a temporary pause in hostilities against Saudi Arabia.

West Texas Intermediate and Brent futures fell around 3% in early Asian trading after Shanghai said it will lock down half of the city in turns to conduct mass Covid-19 testing to try and stem an outbreak. Yemen’s Houthi rebel leader announced a three-day truce on Saturday after an escalation of attacks on the kingdom over the past week, according to a TV report.

Oil is still poised for a fourth monthly gain after Russia’s invasion of Ukraine roiled markets. Most buyers are shunning the OPEC+ producer’s crude as they try and navigate financial sanctions and reputational risks, while Germany is planning to wean itself off almost all Russian fossil fuels within two years. Fighting in Europe continues, with the war now in its second month.

28 Mar 2022, 07:56:41 AM IST

Bitcoin’s stealth rally erases its losses for the year

Bitcoin’s stealth rally over the past two weeks not only pushed it past a key level of $45,000 -- it also put the world’s biggest cryptocurrency back in positive territory for the year.

The token rose as high as $47,583 in early Hong Kong trading, well above the $35,000-to-$45,000 range where it’s been stuck since early January. With the fresh gains, Bitcoin is now up about 1.2% for the year, compared with a 4.7% decline for the S&P 500.

If Bitcoin can keep breaking through “in a meaningful way," it should gain a lot of upside momentum, said Matt Maley, chief market strategist at Miller Tabak + Co.

28 Mar 2022, 07:44:29 AM IST

China stocks slide as half of Shanghai locked down to curb virus

Chinese stocks fell as a lockdown in Shanghai to combat a virus flareup raised worries over disruptions to business operations and the toll on economic growth.

The CSI 300 Index declined by as much as 1.5% early Monday as the city said it will lock down in two phases to conduct a mass testing blitz. Consumer staples and consumer discretionary sectors were the biggest decliners.

Lockdowns add uncertainties to the outlook for Chinese equities, with investors already grappling with regulatory headwinds including a potential delisting of domestic firms from American exchanges, and the fallout from the war in Ukraine. Shanghai is home to the Chinese headquarters of many international companies and the country’s largest port.

28 Mar 2022, 07:39:53 AM IST

Petrol price hiked by 30 paise a litre, diesel up 35 paise - sixth increase in a week taking total hike to ₹4-4.10/ltr (PTI)

28 Mar 2022, 07:31:05 AM IST

Asia shares dip, oil skids on Shanghai shutdown

Asian shares stalled and oil prices slid on Monday as coronavirus lockdown in Shanghai looked set to hit global activity, while throwing another wrench into supply chains that could add to inflationary pressures.

China's financial hub of 26 million people told all firms to suspend manufacturing or have people work remotely in a two-stage lockdown over nine days.

The spread of restrictions in the world's biggest oil importer saw Brent skid $3.68 to $116.97, while U.S. crude fell $3.30 to $110.60. [O/R]

Risk sentiment was helped by hopes of progress in Russian-Ukranian peace talks to be held in Turkey this week after President Volodymyr Zelenskiy said Ukraine was prepared to discuss adopting a neutral status as part of a deal.

Early action on Monday was muted with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.1%. The index is down 2.3% for the month but well above recent lows.

Japan's Nikkei dipped 0.4%, but is still almost 6% firmer for the month as a sinking yen promised to boost exporter earnings.

S&P 500 stock futures eased 0.2%, while Nasdaq futures slipped 0.3%.

Wall Street has so far proved remarkably resilient to a radically more hawkish Federal Reserve. Markets are pricing in eight hikes for the remaining six policy meetings this year, taking the funds rate to 2.50-2.75%.

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