Sensex ends 655 pts higher, Nifty reclaims 22,300; SBI, Bajaj twins shine

Market wrap on March 28, 2024: In the process, the BSE Sensex ended FY24 with a gain of 25 per cent, while the NSE Nifty 50 zoomed almost 29 per cent.

3:54 PM

Tech View: Nifty breakout on daily timeframe signals optimism

The Nifty has rallied significantly, surpassing the 22,500 mark after maintaining momentum beyond 22,100. Furthermore, there's a clear breakout in consolidation on the daily timeframe, signaling rising optimism.

Nevertheless, the Nifty encountered initial resistance near its previous swing high of 22,526. Consequently, to sustain a continued rally, it must surpass the 22,525 level decisively. On the downside, 22,200 could serve as short-term support.

View by: Rupak De, Senior Technical Analyst, LKP Securities

3:51 PM

View: Indian equities end fiscal year on an optimistic note

Indian equities closed the day and fiscal year on an optimistic note, with volatility by the end of the session, as buying by retails, DIIs, and FIIs surged across categories. The mid- and small-cap stocks have emerged as frontrunners, rebounding from the initial sell-off earlier in the month. An upgrade in the domestic economy forecast hints at an encouraging outlook for the stock market in FY25.

However, the emphasis is on large-cap due to the persisting premium valuations of mid-cap stocks, which could pose a concern on the broad market in the short to medium term.

Views by: Vinod Nair, Head of Research, Geojit Financial Services

3:47 PM

Nifty PSU Bank, Auto lead sectoral gains

3:44 PM

BSE Midcap and Smallcap end with nominal gains

3:40 PM

Nifty top gainers and losers

3:38 PM

Sensex heatmap check

3:36 PM

Closing Bell: Nifty surges above 22,300

3:33 PM

Closing Bell: Sensex settles 655 pts higher

3:07 PM

110 stocks from BSE 500 index more-than-doubled in FY24

One out of five stocks or 110 scrips from the S&P BSE 500 index have more-than-doubled in the financial year 2024 (FY24), while the benchmark indices were set to report their best performance in the past three fiscals. The primary catalyst for the equities rally is the huge liquidity flows into the market. The S&P BSE 500 index zoomed 39 per cent thus far in FY24. Read more

2:41 PM

Astra Microwave Products rallies 14% on winning Rs 386 cr order from BEL

Shares of Astra Microwave Products (Astra) rallied 14 per cent to Rs 621.95 in Thursday's intra-day trade after the company bagged orders worth Rs 385.58 crore for supply of MPR sub-systems from Bharat Electronics Limited (BEL), Ghaziabad.

At 02:06 pm; Astra was trading 11 per cent higher at Rs 606.75, as compared to 1.3 per cent rise in the S&P BSE Sensex. The stock had hit a record high of Rs 690 on February 9. Read more

 

2:29 PM

Nifty Auto gains over 2%

2:24 PM

Kotak Mahindra Bank acquires 100% stake in Sonata Finance for Rs 537 crore

2:09 PM

Filing: Astra Microwave Products bags orders worth Rs 385.58 cr from Bharat Electronics

On Thursday, Astra Microwave Products revealed in an exchange filing that it has bagged orders worth Rs.385.58 crores for

supply of MPR sub-systems from Bharat Electronics Limited, Ghaziabad.

2:06 PM

Nifty Healthcare up 1.5%

1:44 PM

Sensex zooms over 950 pts, Nifty atop 22,400; 4 reasons behind the rally

Indian stock markets witnessed a strong rally in Thursday's trading session, which happens to be also the last trading session for the week, month and the financial year.

The S&P BSE Sensex rallied nearly 1,000 points as it touched an intra-day high of 79,984. At 1:15 PM, the BSE benchmark quoted around 73,900, up 900 points. Read more

1:30 PM

Nifty PSU Banks soar 3%

1:20 PM

There are rewards for investors who are averse to taking market risk

Some investors won’t bat an eyelid if their portfolio crashes 25-30 per cent and others worry even if it is down just half a per cent: Tolerance for risk is shaped by experience, personality and money at stake.

What should investors with low appetite for risk do? Should they take exposure to stocks or equity funds? Read more

1:15 PM

Nifty IT trading above 1%

1:12 PM

Nifty Bank moves up by 1.18%

1:05 PM

This jewellery stock has zoomed over 300% in last 10 months on firm outlook

Shares of Kalyan Jewellers India (KJIL) rose 3 per cent on BSE to hit a new high of Rs 427.85 in Thursday’s intra-day trade on expectation of healthy earnings growth ahead. The stock surpassed its previous high of Rs 419 touched on March 2.

In the past 10 months, the market value of KJIL has jumped over four-fold or 305 per cent from a level of Rs 105.65 amid strong financial performance. In comparison, the S&P BSE Sensex rallied 17.4 per cent during the same period. Read more

1:00 PM

Bajaj Auto, TaMo: Strategies for Nifty50 stocks that doubled in FY24

Indian equity markets have witnessed a formidable rally in the financial year 2023-24 on the back of strong economic growth and healthy corporate earnings. Along the way, the markets downplayed fears of higher interest regime, global conflicts and valuation worries.

The NSE Nifty 50 has rallied nearly 29 per cent so far in FY24. Among the index components, Bajaj Auto and Tata Motors are the top gainers, up over 133 per cent each. Adani Ports and Coal India too have doubled investor wealth in this financial year, which ends today. Read more

12:51 PM

ICICI Securities slips 4% as shareholders approve dislisting plans

Shares of ICICI Securities fell up to 4 per cent in the early hours of intraday deals on Thursday. This came after the company’s management disclosed voting results for the delisting of ICICI Securities from the Indian bourses. Read more

12:16 PM

VIEW: T+0 settlement enable flexible, efficient trading

The arrival of the T+0 settlement is a big step forward for India's stock market. It gives investors super-fast, efficient, and flexible trading options.

With real-time settlement, Indian exchanges show they're serious about keeping up with innovation and making the market more competitive.

This change sets the groundwork for a livelier and stronger market environment.

As investors adjust to T+0 settlement, they need to stay alert. They should use technology, smart risk management, and market knowledge to grab opportunities and tackle the new challenges this shift brings.

Views by Sunil Nyati, Managing Director, Swastika Investmart.

12:03 PM

Not just 80C: You can claim Rs 75,000 as deductions with health insurance premiums too

If you haven't already, consider utilizing health insurance to save on your taxes this year. Here's how:
 

The government offers a tax deduction under Section 80D of the Income Tax Act for health insurance premiums. This means you can reduce your taxable income by the amount you pay for health insurance, potentially lowering your tax liability. READ

11:45 AM

Ex-crypto mogul Sam Bankman may go to jail for defrauding FTX investors

Former crypto mogul Sam Bankman-Fried faces the potential of decades in prison when he is sentenced on Thursday for his role in the 2022 collapse of FTX, once one of the world's most popular platforms for trading digital currency. Read

11:25 AM

Adani group begins operations of its copper unit plant at Mundra, Gujarat

Adani group on Thursday announced start of its maiden copper plant at Mundra in Gujarat. Adani Enterprises is setting up plant with 1 million tonnes capacity in two phases. "Close to $1.2 billion will be invested in the first phase," the firm said in a statement.

This marks the Adani portfolio's debut in the metal industry. "The successful progress of the greenfield unit showcases the Adani Group's ability to plan and execute largescale projects," it said. Read

11:07 AM

VIP Industries surges 13% after management unveils plans for FY25

Shares of VIP Industries have shot up 13 per cent to Rs 524.55 on the BSE in Thursday’s intra-day trade amid heavy volumes. This comes a after the management unveiled plans for financial year 2024-25 (FY25). The company is engaged in the business of manufacturing and marketing of luggage, bags and accessories. Read

10:48 AM

Shares of chemicals firm PCBL shoot up 5% on warrant issue worth Rs 488 cr

Shares of chemical manufacturing firm PCBL rose up to 5 per cent on the Indian bourses in Thursday’s intraday deals. Phillips Carbon Black Limited's stock was trading 4.73 per cent higher at Rs 277 in early trade. Read

10:27 AM

Bajaj Finance surges 13% in 2 weeks; Here's what fueling the rally

Shares of Bajaj Finance were trading 3 per cent higher at Rs 7,235 on the BSE in Thursday's intra-day trade amid reports that the company was planning an initial public offering (IPO) of its housing finance subsidiary, Bajaj Housing Finance (BHFL) at a valuation of Rs 80,000-85,000 crore. Read

10:14 AM

IDFC First Bank slips 3% after over 2% equity change hands in block deals

Shares of IDFC First Bank slipped 3 per cent to Rs 75.10 on the BSE in Thursday's intra-day trade after over 2 per cent equity of the private sector lender changed hands via block deals.
 

At 09:15 am; as many as 165 million equity shares representing 2.33 per cent of the total equity of IDFC First Bank changed hands via block deals on the BSE, the exchange data shows. However, the names of the buyers and sellers were not ascertained immediately. Read