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Business News/ Markets / Live Blog/  Sensex Today | Market Close Highlights : Sensex ends up 540pts, Nifty at 22,010; Broader market, metal, PSB, realty gain
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Sensex Today | Market Close Highlights : Sensex ends up 540pts, Nifty at 22,010; Broader market, metal, PSB, realty gain

Sensex Today | Market Close Highlights : Foreign institutional investors (FIIs) net sold shares worth 2,599.19 crore, while domestic institutional investors (DIIs) bought 2,667.52 crore worth of stocks on March 20, provisional data from the NSE showed.

Sensex Today | Market Close Highlights : The NSE F&O ban list for March 21 includes Tata Chemicals, Balrampur Chini Mills, Biocon, Hindustan Copper, Indus Towers, Piramal Enterprises, RBL Bank, and Zee Entertainment Enterprises. (Photo: AFP)Premium
Sensex Today | Market Close Highlights : The NSE F&O ban list for March 21 includes Tata Chemicals, Balrampur Chini Mills, Biocon, Hindustan Copper, Indus Towers, Piramal Enterprises, RBL Bank, and Zee Entertainment Enterprises. (Photo: AFP)

Sensex Today | Market Close Highlights : Optimism in Asian equities extended to Europe after the Federal Reserve signaled it remains on track for three interest-rate cuts this year.

European shares scaled record-high levels on Thursday, boosted by basic resources-linked stocks and a strong risk appetite, ahead of a day packed with central bank decisions.

The pan-European STOXX 600 index was up 0.7% as of 0906 GMT, having hit a record high of 510.07 points in opening minutes of trade.

U.S. stock index futures rose on Thursday as chipmakers tracked sharp gains in Micron Technology and investors took comfort in the Federal Reserve sticking to its three-rate-cut view for this year.

Wall Street rallied on Wednesday, with the S&P 500 notching a record high, after U.S. central bankers kept borrowing costs unchanged and indicated they still expect to ease interest rates by three-quarters of a percentage point by the end of 2024.

At 05:00 a.m. ET, Dow e-minis were up 116 points, or 0.29%, S&P 500 e-minis were up 21.75 points, or 0.41%, and Nasdaq 100 e-minis were up 138.25 points, or 0.75%.

The moves in Asia were powered by gains in tech firms listed in Hong Kong, Taiwan and South Korea following Micron Technology Inc.’s strong revenue forecast reflecting artificial intelligence-induced demand. Japan’s Nikkei 225 marked a fresh closing high after the nation’s exports grew for a third consecutive month.

“It’s a magnificent sea of green" in Asia, said Tony Sycamore, strategist at IG Australia. “There’s just a broad sense of relief that with the Fed out of the way for another six weeks, and with US yields seeming placated for now, it’s back to tech and the buzz around AI returning to the driver’s seat."

Fed policymakers kept their outlook for three cuts in 2024 and moved toward slowing the pace of reducing their bond holdings, suggesting they aren’t alarmed by a recent rebound in price pressures. While Jerome Powell continued to highlight officials would like to see more evidence that prices are coming down, he also said it will be appropriate to start easing “at some point this year."

Treasuries were steady in Asian trading after Wednesday’s advance on growing expectations for the Fed to cut rates as early as June. The dollar extended losses, with the yen strengthening for the first time in eight days.

Bank of Japan Governor Kazuo Ueda said policymakers saw the risk of potentially having to raise interest rates rapidly if it waited too long to end the massive easing program, a view that prompted the central bank to make that move on Tuesday.

European traders will shift focus to the Bank of England as it announces its monetary policy decision. The central bank likely to keep interest rates at a 16-year high, giving more time for inflationary pressures to cool before it loosens up on the quickest tightening cycle in decades.

Gold rallied to trade over $2,200 an ounce for the first time following the Fed comments, while oil also rose. Bitcoin fluctuated after rallying over 5% on Wednesday.

21 Mar 2024, 03:39:45 PM IST

Sensex Today Live : Closing Bell

Sensex Today Live : Indian benchmark indices rallied on Thursday, following global peers up, after the Federal Reserve stuck to its stance of three rate cuts this year.

Sensex, which had opened higher at 72,507.36, climbed a high of 72,882.46 during the day, but pared some gains later. At close, Sensex was up 539.50 points, or 0.75%, at 72,641.19.

Meanwhile, the Nifty 50, which had also opened higher at 21,989.90, climbed to a high of 22,080.95 during the day. At close, the Nifty 50 was up 172.85 points, or 0.79%, at 22,011.95.

NTPC, Power Grid Corp., Tata Steel, IndusInd Bank, and Tata Motors, were the top gainers on the Sensex, while Bharti Airtel, Maruti Suzuki India, ICICI Bank, and Asian Paints were the on drags on the index at close.

On the Nifty 50, NTPC, BPCL, Power Grid Corp., Tata Steel, and Coal India, were the top gainers, while Bharti Airtel, HDFC Life, Maruti Suzuki India, ICICI Bank, and ONGC, were the top losers for the day.

The broader market rallied on Thursday, with the BSE SmallCap index closing up 2.01%, and the BSE MidCap index gaining 2.36%.

Meanwhile, all the sectoral indices also ended the day in the green, with the Realty index leading the charts with gains of 3%, followed by Metal and PSU Bank, which closed up 2.44% and 2.14%, respectively.

The media index closed up 1.79%, while the Auto index was up 1.44%. Consumer Durables and Oil & Gas indices also ended up 1.48% and 1.32%, respectively.

Bank, Financial Services, IT and FMCG indices also ended the day in the green.

21 Mar 2024, 03:18:07 PM IST

Sensex Today Live : Shashank Pal - Chief Business Officer, PL Wealth Management, at Prabhudas Lilladher Pvt. Ltd. gives his views on gold prices

Sensex Today Live : “Federal Reserve’s March policy was on expected lines. Fed chair Jerome Powell reiterated that inflation remains above comfort zone and rate cuts will be delayed. Though he indicated that three cuts will happen this year, I do not think the quantum of rate cuts will be more than 75 bps. Gold has always been a good hedge against inflation and prices will continue to remain strong throughout 2024. Whenever rate cuts start, easy money will result in prices rallying further. Sluggish economic growth, geopolitical uncertainty and elections in 50+ countries means investors will keep looking at safe investment avenues such as gold. Gold has given 12% CAGR over last 20 years; 10.3% CAGR in last 15 years and 7.5% CAGR in last 10 years. So, it is always good to have gold in portfolio. Whether physical gold or Sovereign Gold Bond or ETF, that will be a personal choice based on socio-economic background and evolution as an investor. In India, people prefer physical gold because they look at the asset as ‘storage of wealth’, ‘passing on to next generation’ or ‘emergency recourse’ rather than an investment. Only in last 10-15 years, the mindset has changed in semi-urban and urban population."

--Shashank Pal - Chief Business Officer, PL Wealth Management, at Prabhudas Lilladher

21 Mar 2024, 03:12:33 PM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : All the sectoral indices were in the green, with the Realty index leading the charts with gains of 3.09%, followed by the PSU Bank index, which was up 2.19%. The media index was up 2.02%, while the Auto index was up 1.37%.  Consumer Durables and Oil & Gas indices were also up 1.46% and 1.29%, respectively. Bank, FS, IT and FMCG indices were also in the green. 

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21 Mar 2024, 03:08:40 PM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market rallied on Thursday, with the BSE SmallCap index gaining 2.05%, and the BSE MidCap index gaining 2.31%. 

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21 Mar 2024, 03:06:28 PM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : BPCL, NTPC, Power Grid Corp., Tata Steel, and Coal India, were the top gainers on the Nifty, while Bharti Airtel, HDFC Life, Maruti Suzuki India, ONGC, and ICICI Bank, were the top losers. 

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21 Mar 2024, 03:04:45 PM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : NTPC, Power Grid Corp., Tata Steel, IndusInd Bank, and Tata Motors, were the top gainers on the Sensex, while Bharti Airtel, Maruti Suzuki India, ICICI Bank, TCS, and Infosys, were the top losers. 

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21 Mar 2024, 03:02:24 PM IST

Sensex Today Live : 3 pm Market Update

Sensex Today Live : Indian benchmark indices had pared some early gainers but were still trading up on Thursday after the Federal Reserve stuck to its stance of three rate cuts this year.

At 3 pm, Sensex was up 453.05 points, or 0.63%, at 72,554.74, and Nifty was up 149.45 points, or 0.68%, at 21,988.55.

21 Mar 2024, 02:58:05 PM IST

Sensex Today Live : TVS holdings declares interim dividend of ₹94 per share, fixes April 2 as record date. Board approves fund raise of ₹650 crore via NCDs

Sensex Today Live : TVS holdings informed the exchanges that its Board of Directors today approved the Declaration of interim dividend for the year ending 31st March 2024.

In an exchange filing, the company said, "The Board of Directors of the Company at its meeting held today, declared an interim dividend of Rs. 94/- per share (1,880%) on 2,02,32,104 equity shares of Rs.5/- each fully paid up, absorbing a sum of Rs. 190 Cr, for the financial year ending 31st March 2024.

The interim dividend declared will be paid to those shareholders, who hold shares in physical form and / or in electronic form and whose names appear in the Register of Members and / or Depositories respectively, as at the close of working hours on 2nd April 2024, being the Record Date fixed by the Company for this purpose. The dividend payment will made within a period of 30 days from the declaration of interim dividend, as provided in the Companies Act, 2013."

The companny added, "Further to our intimation dated 18th March 2024, the Board of Directors at its meeting held today i.e., 21st March 2024, approved the proposal to raise funds upto a sum of INR 650 Crore by way of issuance of Non-Convertible Debentures during the financial year 2024-25."

21 Mar 2024, 02:57:46 PM IST

Sensex Today Live : Praveen Sahay, Research Analyst at Prabhudas Lilladher recommends to 'ACCUMULATE' Cera Sanitaryware Pvt. Ltd.

Sensex Today Live : Rating: ACCUMULATE | CMP: Rs6,993 | TP:Rs8,486

Management Meet Update – Focus on premiumisation & expansion

Prabhudas Lilladher Analysts met with the management of Cera Sanitaryware Ltd. (CRS) to assess the demand, competition, pricing, and capacity expansion.

Management continues to observe a slowdown in demand in the near term and is expected to review its revenue guidance of Rs25bn/Rs29bn by Mar-25/Sep-25 with ~16%+ EBITDA margin, following the conclusion of FY24.

We also believe demand scenario will continue to remain subdued in the near term, while CRS expected some improvement with recent capacity expansion in faucetware division in FY25.

We estimate Revenue/ EBITDA /PAT CAGR of 18.2%/22.3%/20.9% over FY24-26E. We maintain ‘Accumulate’ rating, as we value the stock at 35x Dec’25 EPS to arrive at TP of Rs8,486.

21 Mar 2024, 02:42:00 PM IST

Sensex Today Live : FIIs fancy consumer durables; buy stocks worth over $1 bn in Feb

Sensex Today Live : Consumer durables stocks are currently in high demand. In February 2024, foreign institutional investors (FIIs) invested a remarkable net total of $1.042 billion into this sector, outperforming all others.

This investment is the largest amount of FII purchases in this sector since January 2020. Back then, FIIs had sold off consumer durables stocks worth a net total of $27 million. Despite uninspiring corporate remarks following the earnings of the third fiscal quarter in December (Q3FY24), FIIs have shown a keen interest in the stocks of consumer durables companies. (Read the full story here.)

21 Mar 2024, 02:28:51 PM IST

Sensex Today Live : DOMS Industries acquires SKIDO Industries; to enter bags and pouches segment

Sensex Today Live : DOMS Industries today informed the exchanges that it has acquired SKIDO Industries Private Limited, which operated in the back-to-school industry segment with specialisation in bags and pouches.

In an exchange filing, DOMS said, "DOMS endeavours to continue expanding its presence in the product lines which are associated through the growing year of kids, children and young adults. In lieu of this, the proposed acquisition shall allow DOMS to enter into a complementary line of business and introduce new category of products of school bags and other related products to capitalise its existing distribution network and Brand strength. Upon consummation of the proposed investment, SKIDO will become a subsidiary of the Company."

21 Mar 2024, 02:16:34 PM IST

Sensex Today Live : HCLTech achieves the AWS Generative AI competency

Sensex Today Live : HCL Tech today informed the exchanges that it has achieved competency in AWS gen AI.

In an exchange filing, the company said it has been recognized with the Amazon Web Services (AWS) Generative AI Competency Partner status for its expertise in building generative AI (GenAI) applications on AWS and delivering transformative outcomes to enterprises.

With AWS’s advanced GenAI portfolio — including Amazon CodeWhisperer, Amazon Bedrock, Amazon SageMaker and Amazon Q — HCLTech has developed innovative GenAI solutions spanning various industries and enterprise functions, emphasizing responsible and ethical AI practices.

“Attaining the AWS Generative AI Competency is a significant milestone for us, but more importantly, it is a win for our clients. It solidifies our market standing and leadership and assures our clients of our proficiency in developing and implementing real-world generative AI solutions using AWS services. This means we can meet their needs with unparalleled precision and effectiveness, ensuring their success in an ever-evolving landscape," said Prabhakar Appana, Senior Vice President and Head of AWS Business Unit, HCLTech.

21 Mar 2024, 02:02:16 PM IST

Sensex Today Live : 2 pm Market Update

Sensex Today Live : Indian benchmark indices had pared some early gains but were still trading up on Thursday following global peers who were rallying after the Federal Reserve stuck to its stance of three rate cuts this year.

At 2 pm, Sensex was up 496.34 points, or 0.69%, at 72,598.03, and Nifty was up 161 points, or 0.74%, at 22,000.10.

21 Mar 2024, 01:54:28 PM IST

Sensex Today Live : Why Indians are key to reviving Japan's troubled economy

Sensex Today Live : Recently, Japan, recognized as the globe's second most progressive economy, has been in the news for increasing its interest rates for the first time since 2007, adjusting it to 0.1% on balances kept with the central bank. This signifies a departure from the preceding eight years when the rate was set at negative 0.1%.

The Bank of Japan has long upheld an extremely relaxed monetary policy, with the expectation that negligible interest rates would assist the nation in recovering from economic stagnation and deflation. However, the success of this approach has been limited. Strategies such as buying government bonds and applying "yield-curve control" to restrict long-term interest rates have not adequately stimulated lending or economic growth. (Read the full story here.)

21 Mar 2024, 01:41:31 PM IST

Sensex Today Live : IBBI’s cost tweak: The case for and against

Sensex Today Live : There's a split among experts regarding the value of the Indian bankruptcy board's directive that mandates resolution professionals (RPs) to secure prior approval for expenses necessary to sustain a bankrupt firm. This recent initiative by the Insolvency and Bankruptcy Board of India (IBBI) is intended to enhance the scrutiny of such expenditures. (Read the full story here.)

21 Mar 2024, 01:26:57 PM IST

Sensex Today Live : Amber Enterprises India enters into JV with LCGC Resolute Group to make washing machines

Sensex Today Live : Amber Enterprises India today informed the exchanges that it has signed a definitive agreement with LCGC Resolute Group to acquire a 50% stake in Resojet Private Limited to carry on the business of manufacturing fully automatic top loading and front loading washing machines.

In an exchange filing, the company said, "The definitive agreements have been executed on 21 March 2024 by the Company i.e. Amber Enterprises India Limited to acquire 50% stake in Resojet Private Limited’, a part of LCGC Resolute Group, Hyderabad, to carry on the business of manufacturing of fully automatic top loading and front-loading washing machine(s) and its components (“Business"). Pursuant to the above definitive agreements, JV Company will be equally owned and controlled by both JV Partners".

21 Mar 2024, 01:02:29 PM IST

Sensex Today Live : 1 pm Market Update

Sensex Today Live : Indian benchmark indices had pared some early gains but were still trading up on Thursday following global peers who were rallying after the Federal Reserve stuck to its stance of three rate cuts this year.

At 1 pm, Sensex was up 531.98 points, or 0.74%, at 72,633.67, and Nifty was up 163.35 points, or 0.75%, at 22,002.45.

21 Mar 2024, 12:48:00 PM IST

Sensex Today Live : Spandana Sphoorty Financial Limited raises ₹50 crores through NCDs

Sensex Today Live : Spandana Sphoorty Financial Limited informed the exchanges today that it has completed the fundraise of 50 crores.

In an exchange filing, the company said, "We hereby inform that the Management Committee of the Board of Directors of the Company vide its resolution dated March 21, 2024, Thursday, approved and allotted 5,000 Listed, Rated, Senior, Secured, Transferable, Redeemable, Non-Convertible Debentures having face value of Rs.1,00,000 each, at par, total aggregating to Rs. 50,00,00,000.00/- (Rupees fifty crore only) on a private placement basis issued through Disclosure Document dated March 20, 2024. "

21 Mar 2024, 12:42:23 PM IST

Sensex Today Live : Amit Jindal resigns as CEO of Vikas Lifecare

Sensex Today Live : Amit Jindal has resigned as CEO of Vikas Lifecare, citing personal reasons, the company said in an exchange filing.

21 Mar 2024, 12:37:25 PM IST

Sensex Today Live : Investments in India led by real estate demand, not public capex: HSBC Global

Sensex Today Live : HSBC Global's report contradicts the prevailing belief that public capital expenditure is the primary driver of India's investments. Instead, it suggests that private real estate demand is leading the investment in India.

The report highlights that while the government is significantly increasing its capital expenditure, Public Sector Undertakings (PSUs) are reducing theirs. This has resulted in the overall public investment ratio remaining below the levels seen before the pandemic. The rise in private investment, particularly in dwellings and structures, is filling this gap. (Read the full story here.)

21 Mar 2024, 12:14:04 PM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : Across sectors, the Metal index had gained the most, having climbed more the 2%, followed by the PSU Bank index, which was up 1.85%. The Realty index was up 1.47%. All other indices were also in the green. 

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21 Mar 2024, 12:11:04 PM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market was in the green, with the BSE SmallCap index up 1.75%, and the BSE MidCap index up 1.60%.

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21 Mar 2024, 12:09:08 PM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : NTPC, BPCL, Tata Steel, IndusInd Bank, and Hindalco, were the top gainers on the Nifty 50, and Hero MotoCorp, Nestle india, Maruti Suzuki India, Infosys, and Bharti Airtel, were the top losers. 

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21 Mar 2024, 12:06:59 PM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : NTPC, Tata Steel, IndusInd Bank, Power Grid Corp., and Tata Motors, were the top gainers on the Sensex, while Nestle India, Maruti Suzuki India, Infosys, and Bharti Airtel, were the only losers. 

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21 Mar 2024, 12:03:09 PM IST

Sensex Today Live : 12 pm Market Update

Sensex Today Live : Indian benchmark indices had pared some early gainers but were still trading up on Thursday following global peers who were rallying after the Federal Reserve stuck to its stance of three rate cuts this year.

At 12 pm, Sensex was up 511.5 points, or 0.71%, at 72,613.19, and Nifty was up 169.55 points, or 0.78%, at 22,008.65.

21 Mar 2024, 11:54:04 AM IST

Sensex Today Live : Cupid Limited fixes April 4 as record date for share split and bonus share

Sensex Today Live : Cupit Limited today informed the exchanges that it has fixed April 4 as the record date of its planned share split and bonus issue proposal.

In an exchange filing, the company said, "we would like to inform you that the Board of Directors of the Company has fixed the Thursday, 4ih Day of April, 2024, as the Record Date, for the following purpose:

Sub-division of Equity Share: 10 to 1 i.e. Sub-division of 1 (One) Equity Share ofthe face value of 101 each fully paid-up into 10 (Ten) Equity Shares of the face value of Re. 1/- each fully paid-up.

Bonus lssue 1:1 i.e. 1 (One) Bonus Equity Share of the face value of Re. 1l- each fully paid up for every 1 (One) existing Equity Share of Face Value of Re, 1/- each fully paid up."

21 Mar 2024, 11:25:51 AM IST

Sensex Today Live : Priyankar Biswas, Analyst – India Industrials, Logistics and Metals, at BNP Paribas India shares his views on Aegis Logistics

Sensex Today Live : We initiate on Aegis Logistics (AGIS) with an Outperform rating. AGIS is a play on increased LPG imports in India without the commodity price risk. It is a combination of high growth, low leverage, strong return ratios at reasonable valuations. It is our top pick in the sector.

Volume from logistics and distribution to see a strong 26% and 21% CAGR over FY24-27E:

Our detailed forecast of LPG logistics volumes for each asset suggests CAGR of 26% over FY24-27E. This is driven by capacity expansion, improvement in evacuation mechanisms for Aegis’ port assets and potential LPG demand from industrial clusters.

AGIS has also benefited from the switch to propane from natural gas amongst industrial users near Kandla, leading to high-margin distribution volumes rising from 0.1mt in FY22 to over 0.5mt in FY23.

Despite concerns that some LPG volumes may revert to LNG on reduction in LNG prices, we believe AGIS is on track to deliver 0.6mt of distribution volumes in FY24. With the commissioning of Mangalore LPG terminal, we expect a similar swing of 0.3-0.4mt in FY27 in distribution volumes.

TP of INR536 based on 26x FY26E EPS of INR21; valuation compelling:

Given AGIS’ underlying ROE of 19% (adjusted for CWIP/cash), net cash balance sheet, strong growth and lack of related part transactions, we find the valuation of 26x FY26E P/E as reasonable.

21 Mar 2024, 11:15:25 AM IST

Sensex Today Live : Castrol announces strategic association with Shah Rukh Khan as its brand ambassador

Sensex Today Live : Castrol, a subsidiary of the bp Group, in a press release, said the company has signed up Bollywood superstar Shah Rukh Khan as brand ambassador.

The company said, "Over the next two years, Shah Rukh Khan will feature in digital, print, and TV campaigns for bp and Castrol, showcasing their wide range of products".

21 Mar 2024, 11:05:16 AM IST

Sensex Today Live : Gensol Engineering comissions 10.6 MWp Budhni Textile Unit rooftop solar project

Sensex Today Live : : Gensol Engineering today informed the exchanges today that it has successfully completed the 10.6 MWp rooftop solar project for Trident Limited in Madhya Pradesh.

In an exchange filing, the company said this project marks a major milestone for both the companies, showcasing Gensol's expertise in sustainable energy solutions and propelling Trident Limited towards its clean energy goals.

21 Mar 2024, 11:02:00 AM IST

Sensex Today Live : 11 am Market Update

Sensex Today Live : Indian benchmark indices were up on Thursday following global peers who were rallying after the Federal Reserve stuck to its stance of three rate cuts this year.

At 11 am, Sensex was up 708.53 points, or 0.98%, at 72,810.22, and Nifty was up 218.25 points, or 0.25%, at 22,057.35.

21 Mar 2024, 10:52:39 AM IST

Sensex Today Live : India's March business activity ends fiscal year on strong note -PMI

Sensex Today Live : India's business activity ended this fiscal year on a high note, expanding at the fastest rate in eight months in March, according to a business survey, suggesting the country would remain the fastest growing major economy.

HSBC's flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 61.3 this month from February's final reading of 60.6.

That extended the streak of expanding activity to 32 months. The 50-mark separates expansion from contraction on a monthly basis.

Growth was led by the manufacturing sector, which has been one of the primary economic drivers over the past few quarters. The index tracking factory activity rose to 59.2, its highest since February 2008, from 56.9 last month.

Demand in Asia's third-largest economy for factory goods remained strong with new orders recording the fastest expansion in over three years.

Meanwhile, services activity also remained robust although the index eased slightly to 60.3 in March from 60.6 last month.

Overall exports expanded at the fastest pace in seven months.

21 Mar 2024, 10:41:22 AM IST

Sensex Today Live : RailTel bags ₹99.02 crore contract from Bihar Education Project Council for supply of teaching learning materials

Sensex Today Live : RailTel today informed the exchanges that it has received a work order from the Bihar Education Project Councils for the supply of teaching learning materials for students from Class 6 to Class 12.

In an exchange filing, the company said, "This is to inform that RailTel Corporation of India Ltd. has received the work order from State Project Director (Spd) Bihar Education Project Council (Bepc) for Supply amounting to Rs. 99,01,95,806 (Including Tax)."

21 Mar 2024, 10:12:56 AM IST

Sensex Today Live : NHPC board to meet on March 27 to consider raising debt for FY24 & FY25

Sensex Today Live : NHPC Ltd, informed the exchanges today that its Board of Directors will meet on 27 March to discuss the proposal of raising debt in FY24 and FY25.

The company, in an exchange filing, said, "It is to inform that a meeting of Board of Directors of the company is scheduled to be held on Wednesday, 27th March, 2024 to inter-alia consider the proposal for raising of debt during financial years 2023-24 and 2024-25."

21 Mar 2024, 10:02:05 AM IST

Sensex Today Live : 10 am Market Update

Sensex Today Live : Indian benchmark indices climbed up on Thursday following global peers who were rallying after the Federal Reserve stuck to its stance of three rate cuts this year.

At 10 am, Sensex was up 549.55 points, or 0.76%, at 72,651.24, and Nifty was up 172.35 points, or 0.79%, at 22,011.45.

21 Mar 2024, 10:00:17 AM IST

Sensex Today Live : Castrol to serve as the Official Performance Partner for Mumbai Indians for IPL 2024

Sensex Today Live : Castrol, a subsidiary of the bp group, today informed the exchanges its association with Mumbai Indians (MI) as the ‘Official Performance Partner’ for the upcoming cricketing league IPL, starting on 22 March 2024.

In an exchange filing, the company said, "This association underscores Castrol’s enduring legacy of aligning with some of the world’s most prestigious sporting extravaganzas. Notably, Castrol’s previous partnership with JioCinema for streaming the 2023 TATA Indian Premier League as an associate sponsor underscores its dedication to top-tier sports events."

21 Mar 2024, 09:44:22 AM IST

Sensex Today Live : Hinduja Global Solutions looks to rationalise media business, monetise optical fibre assests for ₹208 crores to pare debt

Sensex Today Live : Hinduja Global Solutions informed the exchanges today that its board has approved the company's plan to rationalise the supply chain management function of its media division and its media subsidiaries with a view to bringing in operational efficiencies and optimise costs.

The company added that it also plans to monetise its optical fibre assets for a consideration of 208 crores to retire debt, which will help the company bring down interest costs.

21 Mar 2024, 09:26:39 AM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : All sectoral indices were in the green, with the Metal index leading gains. It was up 2.05%, followed by PSU Bank, up 1.71%.

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21 Mar 2024, 09:24:38 AM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market was shining, as the BSE SmallCap index was up 1.31%, and the BSE MidCap index was up 1.20% in early trades.

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21 Mar 2024, 09:22:42 AM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : Tata Steel, JSW Steel, BPCL, Coal India, and Hindalco, were the top gainers on the Nifty 50, while Nestle India, Hero MotoCorp, Britannia, Dr Reddy's and Maruti Suzuki India, were the top drags. 

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21 Mar 2024, 09:20:47 AM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Tata Steel, IndusInd Bank, Wipro, JSW Steel, and HCLTech, were the top gainers on the Sensex, while Nestle India was the only stock in the red on the benchmark index, in the morning.

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21 Mar 2024, 09:17:34 AM IST

Sensex Today Live : Opening Bell

Sensex Today Live : Indian benchmark indices jumped at open on Thursday following global peers who were rallying after the Federal Reserve stuck to its stance of three rate cuts this year.

At opening bell, Sensex was up 547.57 points, or 0.76%, at 72,649.26, and Nifty was up 169.75 points, or 0.78%, at 22,008.85.

21 Mar 2024, 09:13:26 AM IST

Sensex Today Live : Benchmark indices climb at pre-open

Sensex Today Live : Indian benchmark indices jumoed during pre-open on Thursday following global peers who were rallying after the Federal Reserve stuck to its stance of three rate cuts this year.

Sensex was up 405.67 points, or 0.56%, at 72,507.36, and Nifty was up 150.80 points, or 0.69%, at 21,989.90 during pre-open.

21 Mar 2024, 08:53:44 AM IST

Sensex Today Live : Dhawal Ghanshyam Dhanani, International Equity Fund Manager at SAMCO Mutual Fund gives view on the US Federal Reserve interest rate decision

Sensex Today Live : "Status-quo from the US Fed, with minimum alterations in their official statement. While the economic growth forecast was revised upwards, the Dot-Plot 'signals' three rate-cuts in 2024 but 2025, 2026, and beyond all seeing chances of less aggressive cuts. Gold and stocks have outperformed even with the dollar rising modestly and bitcoin stealing the show. Stocks have rallied since the last meeting despite a plunge in 2024 rate-cut expectations from 6 to 3 – interesting times! With BoJ scrapping radical interest rate regime, hiking interest rates in 17 years shows an independent approach undertaken by central banks across the globe post covid. Global markets will take its own sweet time to reset to these nuances."

-Dhawal Ghanshyam Dhanani, International Equity Fund Manager at SAMCO Mutual Fund

21 Mar 2024, 08:52:00 AM IST

Sensex Today Live : Stocks to Watch

Sensex Today Live : ZEEL, Wipro, Crompton Greaves, Wockhardt, TVS, PB Fintech, are some stocks likely to be in focus on Thursday, March 21.

21 Mar 2024, 08:30:41 AM IST

Sensex Today Live : What to expect from Indian stock market in trade on March 21

Sensex Today Live : The Sensex and Nifty 50, India's stock market indices, are projected to start off strong on Thursday, influenced by the positive performance of global markets.

The Gift Nifty trends also suggest a gap-up opening for the Indian benchmark index. The Gift Nifty was observed trading around the 22,080 mark, which is nearly 170 points higher than the previous close of Nifty futures.

On Wednesday, despite intermittent volatility, the Indian stock market indices managed to close with slight gains, buoyed by a positive global sentiment. The Sensex rose by 89.64 points (0.12%) to close at 72,101.69, while the Nifty 50 increased by 21.65 points (0.1%) to settle at 21,839.10.

On the daily chart, the Nifty 50 formed a small body candle with shadows on both ends.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, interpreted this pattern as a doji type candle pattern. He explained that a doji usually signals potential trend reversals following significant upward or downward movements. Given that a doji has formed after a minor downtrend, he anticipates a minor pullback rally. (Read the full story here.)

21 Mar 2024, 08:14:50 AM IST

Sensex Today Live : Eight key things that changed for market overnight - Gift Nifty, US Fed meet outcome to gold prices

Sensex Today Live : On Thursday, positive global market trends are likely to lead to a higher opening for domestic equity indices. Asian markets, including the Nikkei which reached new all-time highs, traded positively. Similarly, US stock indices closed at record levels overnight, bolstered by the results of the US Federal Reserve's monetary policy meeting.

The Federal Open Market Committee (FOMC), led by Fed Chair Jerome Powell, kept the Federal Funds rate at 5.25% - 5.5% and reiterated its prediction for three rate cuts this year.

On Wednesday, amid bouts of volatility, the Indian stock market indices ended with slight gains, buoyed by positive global sentiment. The Sensex rose by 89.64 points, or 0.12%, to close at 72,101.69, while the Nifty 50 increased by 21.65 points, or 0.1%, to settle at 21,839.10.

Vinod Nair, Head of Research at Geojit Financial Services, commented that the Indian markets rebounded and closed with modest gains, driven by positive global sentiment and strong direct tax collection. (Read the full story here.)

21 Mar 2024, 08:08:03 AM IST

Sensex Today Live : Indian market looks to rally as Fed sticks to its guns

Sensex Today Live : Markets around the world were on a strong footing after the Federal Reserve stuck to its stance of three interest rate cuts in this year.

Before markets open in India, even the Gift Nifty futures was trading substantially ahead of Wednesday's Nifty 50 close.

At 7:58 am, the Gift Nifty was at 22,077.50, more than 230 points ahead of Wednesday's Nifty 50 close of 21,839.10.

Elsewhere, Asian shares bounced while gold prices and Japan's Nikkei jumped to record highs on Thursday after the U.S. Federal Reserve indicated it would stick with plans for cutting interest rates.

The U.S. dollar nudged lower and traders slightly increased their expectations for a U.S. rate cut in June.

Japan's Nikkei went up 1.5% to a fresh peak over 40,000 in early trade. MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.6%. Spot gold, an expected beneficiary of lower interest rates as yields on bonds come down, spiked to a record $2,222 an ounce.

Overnight the Fed left U.S. rates on hold between 5.25% and 5.5%, as expected, and nudged up inflation forecasts. Policymakers' median projection for three 25 basis point rate cuts this year was unchanged from December.

U.S. Treasury yields fell slightly in New York trade and were steady in Asia. Two-year yields were last at 4.59% and 10-year yields at 4.26%. The S&P 500 notched a record closing high overnight and U.S. and European futures rose in Asia trade.

Fed Chair Jerome Powell told reporters sticky inflation reports show price pressures but "haven't really changed the overall story, which is that of inflation moving down gradually".

Gold was last a bit lower than its early-hours spike, though at $2,200 an ounce is up 7% this year.

Brent crude futures were steady at $86.34 a barrel.

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