Sensex gains 191 pts, Nifty nears 22,100; realty, auto shine, IT drops

Stock market highlights on March 22: In the broader markets, too, positive sentiment lifted the BSE MidCap index 0.38 per cent and the BSE SmallCap index 1.06 per cent

4:06 PM

Outlook:: Nifty needs to sustain above 22,100 for a fresh rally to emerge

"Nifty witnessed two days of recovery following a doji formation on the daily chart, indicating a bullish reversal. Moreover, the Nifty has reclaimed the critical 55-day exponential moving average. However, Nifty needs to cross over 22,100 to witness a clear rally towards the all-time high of 22,525. On the lower end, 22,950 might remain a strong support for the index. Below this level, the index might enter a consolidation phase."

 

- Rupak De, Senior Technical Analyst at LKP Securities

 

4:00 PM

COMMENT:: Dovish BoE comments, dip in crude oil prices aided market gain

"The domestic market swiftly rebounded from an initial downturn and maintained a positive trajectory throughout the day, buoyed by favourable global cues driven by dovish comments from the BoE and buying activity at lower levels in the wake of a recent sell-off. Additionally, the retreat of crude oil prices from recent highs contributed to the positive sentiment. While most sectors experienced gains, the IT remained in the red due to subdued guidance from Accenture, a major global IT player."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

3:54 PM

View on Bank Nifty:: Bias to remain bullish above 46,600 - 46,500 support zone

"The Bank Nifty index saw robust buying from lower levels but struggled to breach the resistance at 47,000. Immediate support lies at 46,600-46,500, and as long as the index holds above this level, the outlook remains bullish. A breakthrough above 47,000 is anticipated to trigger sharp short-covering rallies towards the 48,000 mark."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities

3:52 PM

Market breadth was fairly positive; Around 2,450 stocks advanced, while near about 1,375 declined on the BSE

3:50 PM

Sectoral ALERT:: Nifty Auto index rallies 1.7%; Hero Moto, Maruti lead

3:48 PM

Sectoral ALERT:: Nifty IT index sheds 2.3%; Infy falls 3%

3:47 PM

BSE Smallcap Heatmap:: EMudhra, Vadilal, JSW Holdings shine; Rama Steel whines

3:45 PM

BSE Midcap Heatmap:: IREDA, IRFA jump up to 5%; NMDC slips 2%

3:43 PM

Broader Market Check:: MidCap, SmallCap indices fare marginally better; VIX dips 2%

3:41 PM

Nifty 50 Losers:: LTIMindtree, Infosys, Wipro, HCL Tech drop over 2%

3:40 PM

Nifty 50 Gainers:: Hero Moto, Maruti, Sun Pharma, UPL rally over 3%

3:38 PM

Sensex 30 Heatmap:: 21 Gainers v/s 9 Losers

3:37 PM

CLOSING BELL:: NSE Nifty50 jumps 85 points to settle at 22,097

3:34 PM

CLOSING BELL:: S&P BSE Sensex ends 191 points higher at 72,832

3:21 PM

DMart hits new 52-week high, up 7% in 3 days after CLSA initiates buy rating

The brokerage believes investor concerns around competition from quick commerce and vertical-based players are valid but still factored in the stock price. READ MORE

3:09 PM

Global check:: US, UK stock futures trade with a mixed bias

Source: Investing.com

2:56 PM

JSW Holdings surges 10% on bulk deal of 59k shares worth Rs 6,253 cr

The share price of JSW Holdings, the investment arm of JSW Group saw a sharp jump of 10.2 per cent at Rs 6,876 in Friday's intraday trade after the company sold its shares through a bulk deal on Thursday. READ MORE

2:43 PM

ALERT:: Century Textiles discontinues textile ops at Guj plant; stock marginally down

Century Textiles in an exchange filing said owing to restructure process of the company's Textile Business operations at Birla Century were discontinued and outsourcing of specialized greige fabric was proposed to be increased from 45,000 meters per day to 1,05,000 meters per day and a VRS scheme was also implemented for the workers/employees.

2:30 PM

Market check:: SmallCaps outperform; BSE SmallCap index up over 1%

2:15 PM

71 Indian companies on FT's Asia Pacific top 500 high-growth list

Seventy-one Indian companies made it into the ranks of the sixth annual "High-Growth Companies Asia-Pacific 2024" report, jointly released by The Financial Times (FT) and Statista, a data company. Electric-vehicle platform Zypp Electric and agritech firm BigHaat claimed the top two ranks, respectively. READ MORE

2:02 PM

Promoter buying lifts this cement stock to 52-week high; do you own it?

Shares of Star Cement advanced 5.3 per cent to Rs 221.5 per share, also its fresh 52-week high, on the BSE in Friday's intraday trade. The stock surpassed its previous high of Rs 219.45, hit on February 12, 2024.
 

At 1:08 PM, the shares were quoting 3.8 per cent higher at Rs 218.3 per share as against 0.34 per cent rise in the benchmark S&P BSE Sensex. Read

1:43 PM

Newly listed stock freezes at 10% upper circuit; up 110% over issue price

Shares of Jyoti CNC Automation were locked in the 10 per cent upper circuit on BSE at Rs 693.70 in Friday's trade on a healthy business outlook.
 

The stock of the industrial products company was trading at its highest level since its market debut on January 16, 2024. With today’s rally, the market price of Jyoti CNC Automation has more-than-doubled or zoomed 110 per cent from its issue price of Rs 331 per share. Read

1:29 PM

Budget carrier IndiGo forecasts slowdown in capacity growth next year

InterGlobe Aviation Ltd., which operates India’s biggest airline IndiGo, forecast slower capacity growth in the fiscal year starting April 1.

 

The budget carrier expects capacity to grow in the “early double digits” next year, with a similar rate of increase in the number of passengers it flies, it said in an analyst presentation Friday. The pace is slower than growth seen in the December quarter and guidance for the current financial year. Read

1:12 PM

Skipper jumps 22% in two days as promoter entity Ventex ups stake to 5.02%

Shares of smallcap company Skipper extended previous sessions's rally to Friday as it soared 12.7 per cent to Rs 292 on the BSE. With this, the stock has jumped nearly 22 per cent since Wednesday's close. Read

12:57 PM

Amber rallies 6% on inking JV pact with Resojet to make washing machines

The JV will also facilitate both the companies to cater to the evolving customer needs, deliver high quality products, and develop the local manufacturing ecosystem in India, it added. READ MORE

12:47 PM

Sarda Energy zooms 14% as JV bags Composite Licence for iron ore block

Natural Resources Energy Pvt. Ltd. – a subsidiary Joint Venture company (NREPL), has been awarded the Letter of Intent for Composite Licence for Surjagad 1 Iron Ore Block in the state of Maharashtra for iron ore for an area of 1,526 hectare. The iron and steel company has 51 per cent economic interest in the JV, the company said in an exchange filing. READ MORE

12:37 PM

ALERT :: KEC International wins order worth Rs 1,004 crore; stock up 2%

12:25 PM

Market Check :: Indices trade range-bound amid lack of triggers

12:13 PM

Hi-Tech Gears hits new high; surges 26% in 2 days on healthy outlook

For the first nine months (April to December) of financial year 2023-24 (9MFY24), Hi-Tech Gears had posted consolidated profit after tax (PAT) of Rs 96.4 crore. The company reported PAT of Rs 23.1 crore in the entire previous fiscal 2022-23 (FY23). In 9MFY24, EBITDA (earnings before interest, taxes, depreciation, and amortization) stood at 13.3 per cent, as compared to 12.09 per cent in FY23. READ MORE

12:03 PM

Govt rejects Hindustan Zinc's plans to split company into different units

The Indian government is the largest minority shareholder in Hindustan Zinc, owning a 29.54 per cent stake, but was not consulted by the company when it decided to split the firm to create separate entities for its zinc, lead, silver and recycling business, the government source said requesting anonymity. READ MORE