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Stock Market Hihghlights: Sensex ends 1,040 pts higher, Nifty50 reclaims 16,950 amid broad based gains; Fed meet in focus

Stock Market Hihghlights: Sensex ends 1,040 pts higher, Nifty50 reclaims 16,950 amid broad-based gains; Fed meet in focus

Stock Market Hihghlights: Sensex ends 1,040 pts higher, Nifty50 reclaims 16,950 amid broad-based gains; Fed meet in focus
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Summary

Stock Market Highlights: Indian equity benchmarks made a comeback on Wednesday after a day's breather, tracking gains across most global equities ahead of the release of the Fed's decision on interest rates. The US central bank is widely expected to lift the interest rates from pandemic-era lows. Gains across sectors pushed the headline indices higher, with financial, IT and oil & gas shares being the biggest movers. Broader markets strengthened in line with headline indices, with the Nifry Midcap 100 and Nifty Smallcap 100 indices rising two percent and 1.2 percent respectively. Investors closely tracked updates on the Russia-Ukraine war and increasing COVID cases in China. 

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Catch latest from CNBC-TV18's coverage of Russia-Ukraine war

Mar 16, 2022 5:44 PM

Won't recommend Voltas, Syphony at current levels: Sudip Bandopadhyay

Sudip Bandopadhyay, Group Chairman of Inditrade Capital, believes consumption has returned to pre-COVID levels, and sees scope for growth from current levels.

In the listed AC space, however, he sees certain concerns on the margin front. He does not recommend going long on Voltas or Symphony at current levels. 

"There is absolutely no problem on the demand side, but margin pressure because of the supply chain worries us," he adds. 

Mar 16, 2022 5:17 PM

Cement industry going to face headwinds, there may be a demand-supply mismatch: Dipan Mehta

Elixir Equities Director Dipan Mehta expects the cement industry to face a lot of headwinds, cost increases in particular. The industry is rapidly expanding capacity so there can be a demand-supply mismatch as well, he says. 

He believes it's a good industry to be in for the long term as demand for real estate and infrastructure should remain strong.

His advice: Whatever stocks are trading cheap may not be the best in giving returns; it is a good time to get into UltraTech or Shree Cement.

Mehta will avoid JK Cement at the moment.

Stock Market Hihghlights: Sensex ends 1,040 pts higher, Nifty50 reclaims 16,950 amid broad-based gains; Fed meet in focus
Mar 16, 2022 4:55 PM

Nifty headed towards major resistance at 17,025, Bank Nifty towards 36,000: JM Financial Services' Rahul Sharma

Rahul Sharma, Head of Technicals and Derivatives Research at JM Financial Services, is of the view the Nifty is headed towards major resistance at 17,025 and the banking index towards 36,000. This is happening with open interest at a two-high year in the Nifty, and a 10-year high in the Bank Nifty, he points out.

"In case these levels are crossed, the shorts will get challenged in a significant way. And we could see another round of rally happening on the upside. It's still early days; the breakout is still not confirmed. But if the breakout happens, it will cause for another short covering rally, which can trigger a good round of buying interest into the market. We are advising clients to stay light going into this event. If you're able to cross these levels tomorrow or day after, we should be in for a good upside in the coming few days," he adds. 

Mar 16, 2022 4:37 PM

Market At Close | Sensex, Nifty50 rise in line with global peers; best day for Hang Seng since 2008

Here are some highlights: 

--46 Nifty stocks in the green

--Positive developments on Russia-Ukraine front help market see healthy gains

--Fear gauge India VIX slips 10 percent, biggest single-day fall in a month

--IT stocks gain ahead of Accenture earnings on Thursday; Infosys top gainer

--Oil market companies surge; IOC, BPCL, HPCL up 2 percent

--Cement stocks bounce on reports of strong demand; UltraTech top Nifty gainer

--Mphasis slips on reports of likely block deal, down 5 percent from high 

--HAL among top midcap gainers on agreement with French company, up 7 percent

--Market breadth firmly in favour of bulls; advance-decline ratio at 5:2

--BSE-listed cos's market cap increases by more than Rs 4.5 lakh crore

Stock Market Hihghlights: Sensex ends 1,040 pts higher, Nifty50 reclaims 16,950 amid broad-based gains; Fed meet in focus
Mar 16, 2022 4:15 PM

Market At Close | UltraTech, Axis Bank, Bajaj Auto, IndusInd Bank top blue-chip gainers

Shree Cement, HDFC, Infosys, Hindalco and Britannia also among the gainers. Only three stocks in the Nifty50 pack below the flatline: Cipla, Sun Pharma and Tata Consumer. 

How the 30-scrip basket looks like:

Stock Market Hihghlights: Sensex ends 1,040 pts higher, Nifty50 reclaims 16,950 amid broad-based gains; Fed meet in focus
Mar 16, 2022 3:53 PM

Closing bell | Sensex surges 1,040 pts to reclaim 56,800; Nifty50 at 16,970

Both headline indices finish the day 1.9 percent higher. The Sensex gains 1,039.8 points to end at 56,816.7 and the Nifty50 settles at 16,975.4, up 312.4 points from its previous close. Across-the-board gains pushed the main indices higher, with financial, IT and oil & gas shares being the biggest movers. 

On Tuesday, both had halted a five-day-long winning run to three-month highs. (Read more on the March 16 session)

Mar 16, 2022 3:35 PM

View | Stock market investing and navigating the macro context

"I am a lifelong admirer of (Warren) Buffett and to a lesser extent of Peter Lynch. But in this particular aspect, I think both of them are completely wrong. Before you start trolling me, and asking who is this guy who dares to contradict two of the greatest investors in the world, hear me out," says Abhishek Basumallick, a full-time investor who writes on intelsense.in. 

Mar 16, 2022 3:27 PM

Explained: Can market concentration determine future returns? Take a look at S&P 500's past

Index returns might not be as concentrated as one would guess, writes Mahavir Kaswa of Motilal Oswal AMC. (Read more)

Stock Market Hihghlights: Sensex ends 1,040 pts higher, Nifty50 reclaims 16,950 amid broad-based gains; Fed meet in focus
Mar 16, 2022 3:10 PM

Nifty50 within 11 pts of 200-DMA 

The 50-scrip benchmark surges as much as 314.8 points or 1.9 percent to touch 16,977.8 in the last 30 minutes of the session, coming within 11 points of its 200-day moving average. 

Period (No. of days)
Simple moving average Signal
5 16,733.9 Bullish
10 16,463.5 Bullish
20 16,710.3 Bullish
50 17,270.9 Bearish
100 17,388.1 Bearish
200 16,988.5

Bearish

 
Mar 16, 2022 3:05 PM

Russia Foreign Minister says neutral status for Ukraine being seriously discussed: Reuters

Catch latest from CNBC-TV18's coverage of Russia-Ukraine war

Mar 16, 2022 2:57 PM

Time to accumulate HDFC Life, FIIs will regret selling: G Chokkalingam

G Chokkalingam, Founder and Managing Director at Equinomics Research & Advisory, believes one should view the current juncture as an opportunity to buy HDFC Life. "Interestingly, FIIs are selling. I believe they will regret selling," he says.

"It has got a banking platform to complement its marketing of its business. The price has fallen 34 percent. I believe that it's a great opportunity for conservative medium- to long-term investors," he adds. 

Mar 16, 2022 2:45 PM

RVNL declares dividend of Rs 1.58/share

Rail Vikas Nigam shares rise as much as 2.3 percent to Rs 33.6 in late afternoon deals. 

Stock Market Hihghlights: Sensex ends 1,040 pts higher, Nifty50 reclaims 16,950 amid broad-based gains; Fed meet in focus
Mar 16, 2022 2:25 PM

Outlook on crude oil still bearish, bullish on aluminium: Nirmal Bang’s Kunal Shah

Kunal Shah of Nirmal Bang Commodities tells CNBC-TV18 he is not very optimistic about the outlook of crude oil. He is of the view that any rallies in oil should be sold.

He expects to see $90 a barrel on WTI in a matter of next 20 days to one month, and $92 a barrel on Brent. "Our outlook on oil continues to be bearish,” he says. (Read more)

Stock Market Hihghlights: Sensex ends 1,040 pts higher, Nifty50 reclaims 16,950 amid broad-based gains; Fed meet in focus
Mar 16, 2022 2:22 PM

Buy JSPL, DLF: Aditya Agarwala

Here are two trading calls from Aditya Agarwala of Yes Securities:

--Buy DLF for a target of Rs 364-366 with a stop loss at Rs 347 

--Buy Jindal Steel and Power for a target of Rs 500 with a stop loss at Rs 440-445 

Mar 16, 2022 2:11 PM

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