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    Stock Market Highlights: Sensex ends 817 pts higher, Nifty 5 pts shy of 16,600 as oil retreats, BJP leads in UP

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    Stock Market Highlights: Sensex ends 817 pts higher, Nifty 5 pts shy of 16,600 as oil retreats, BJP leads in UP

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    Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 extended gains to a third straight day after a gap-up start on Thursday, as crude oil prices eased after fanning inflationary fears. Gains across most sectors pushed the headline indices higher, with financial and consumer stocks being the biggest movers. Broader markets mirrored the gains in headline indices, staying well in the green throughout the day. The Nifty Midcap 100 and Smallcap 100 indices rose 0.9 percent and 1.4 percent for the day respectively. Investors closely tracked preliminary numbers of the Assembly polls in five states -- Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa, which are likely to set the tone for the 2024 Lok Sabha polls.

    Stock Market Highlights: Sensex ends 817 pts higher, Nifty 5 pts shy of 16,600 as oil retreats, BJP leads in UP
    • Thank you, readers! That's all from CNBCTV18.com's live market coverage on March 10, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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      Catch latest updates on Assembly Elections 2022 results on CNBCTV18.com’s blog 

      Follow minute by minute updates on election results of Uttar PradeshPunjabUttarakhandGoaManipur here

      Click here for our full Assembly Elections 2022 coverage

    • Fear index India VIX eases 7% 
       
      The India VIX -- known in market parlance as the fear index -- cools off 6.9 percent to settle at 25.6. Late last month, Russia's move to invade Ukraine had sent the index soaring to a 20-month high of almost 34. 
       
      In March 2020, the VIX had skyrocketed to 86.6 after India announced a full lockdown to tackle soaring COVID-19 cases.
       
      Here's how the volatility gauge has fared so far in 2022:
      Stock Market Highlights: Sensex ends 817 pts higher, Nifty 5 pts shy of 16,600 as oil retreats, BJP leads in UP
    • Remain bullish on real estate space, like Godrej Properties, Sobha: Ambareesh Baliga 

      Independent market expert Ambareesh Baliga remains bullish on real estate. "Mumbai as well as Navi Mumbai are seeing increases in sales. One should be bullish on real estate... Any company that is a decently good name should be there in the portfolio," he says. 

      His picks from the space: Godrej Properties and Sobha Developers.

      Stock Market Highlights: Sensex ends 817 pts higher, Nifty 5 pts shy of 16,600 as oil retreats, BJP leads in UP
    • No change in market after key event a positive: Jonathan Schiessl

      Jonathan Schiessl, Deputy Chief Investment Officer of Westminster Asset Management, views no change in the Indian market after a political event as a positive. "Broadly speaking, I think the markets for the time being, and particularly foreign investors, will probably be staying on the sidelines until they see what happens globally till we get some more certainty there," he says.

      "We've seen some substantial foreign selling out of India over the last period. Perhaps that is done for the time being, but I wouldn't think we'll see substantial foreign buying anytime soon... A lot of investors do worry about inflation, and what's happening with oil prices and its impact on an economy like India. From our perspective, we haven't been allocating any additional monies to India; we do have some exposure," he adds.

    • Rupee ends higher at 76.30 vs US dollar

      The rupee finishes the day at 76.30 against the greenback. On Wednesday, it had settled at 76.56.

      Stock Market Highlights: Sensex ends 817 pts higher, Nifty 5 pts shy of 16,600 as oil retreats, BJP leads in UP
    • Supreme Court reserves orders on sentencing Vijay Mallya for contempt after another no-show 

      The top court had previously directed Mallya to appear before it for sentencing proceedings.

    • Market At Close | Sensex, Nifty50 off day's highs but extend gains to 3rd day

      Here are some highlights:

      --Oil price off recent highs, weighs on ONGC, GAIL

      --Metal stocks jump in last hour as commodity prices rise; Nifty Metal up 2 percent

      --Reliance extends gains, lifts Nifty by 34 points 

      --Hindustan Unilever, Grasim, Tata Steel, SBI, JSW Steel, Tata Consumer top Nifty gainers

      --Coal India, Tech Mahindra, Dr Reddy's, ONGC, TCS, UPL slip 

      --Coforge top midcap loser following block deal of more than 10 percent equity

      --Gujarat Gas, GAIL, OIL, Indian Hotels, BEL top midcap losers

      --Astral, Adani Enterprises, IndiaMART, IndiGo, Cholamandalam Investment top midcap gainers

      --Market breadth favours bulls; advance-decline ratio at 3:1

      Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

      Stock Market Highlights: Sensex ends 817 pts higher, Nifty 5 pts shy of 16,600 as oil retreats, BJP leads in UP
    • Hindustan Unilever, Tata Steel, Grasim, SBI top blue-chip gainers

      JSW Steel, Indian Oil, IndusInd, Tata Consumer and Tata Motors also among the gainers. 

      Coal India, Tech Mahindra, Dr Reddy's, UPL the worst hit among hte seven losers in the Nifty50 pack. 

      Here's how the 30-scrip basket looks: 

      Stock Market Highlights: Sensex ends 817 pts higher, Nifty 5 pts shy of 16,600 as oil retreats, BJP leads in UP
    • Market At Close | Barring Nifty IT, all NSE sectoral indices in the green

      The IT index slipped 0.1 percent. 

      Stock Market Highlights: Sensex ends 817 pts higher, Nifty 5 pts shy of 16,600 as oil retreats, BJP leads in UP
    • Closing Bell | Sensex up 817 points, Nifty50 at 16,595

      Both headline indices finish the day up 1.5 percent. The Sensex up 817.1 points at 55,464.4 and the Nifty50 settles at 16,594.9, up 249.6 points from its previous close. (Read more on how the market fared at the closing bell)

    • Assembly Elections | Uttar Pradesh CM Yogi Adityanath leads from Gorakhpur seat by over 31,000 votes

      Uttar Pradesh Chief Minister Yogi Adityanath was heading for a landslide victory and leading by around 31,000 votes from the Gorakhpur Urban seat.

      According to latest Election Commission figures, Adityanath secured 47,427 votes. His nearest rival, Samajwadi Party's Subhawati Shukla, bagged 16,427 votes. (Read more)

      Catch latest updates on Assembly Elections 2022 results on CNBCTV18.com’s blog 

      Follow minute by minute updates on election results of Uttar PradeshPunjabUttarakhandGoaManipur here

      Click here for our full Assembly Elections 2022 coverage

    • Positive on banking NBFC stocks: Deven Choksey 

      Deven Choksey of KRChoksey believes there is a case for investing in banking and NBFC stocks now. On one side, the retail credit offtake is likely to remain steady to high, with consumption going to be the main driver of retail credit and on the other, industrial credit is likely to pick up smartly thanks to government spending on infra, he says. 

      Choksey is also of the view that most banks, corporate private sector banks in particular, have systematically managed their books and liabilities. "They have compromised or sacrificed a part of growth also in this particular period, but managed to keep the books healthy. This particular point works in favour when the credit demand starts to pick up," he says. 

    • Crude oil prices have peaked around $130/barrel: Adrian Mowat

      Emerging equity market strategist Adrian Mowat tells CNBC-TV18 that in his view, crude oil prices have peaked at around $130 a barrel. He expects to see good GDP growth across the US and Europe after the pandemic. 

      With the Russia-Ukraine crisis becoming less dominant now, the focus will shift to the Federal Reserve, he says. 

      He also believes that weakness in Indian financials is overdone, and Indian equities remain quite resilient. 

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

    • Assembly Elections | AAP's Bhagwant Mann wins Dhuri seat by more than 58,000 votes

      The Aam Aadmi Party appeared to be racing ahead of its rivals in the state. (Read more)

      Catch CNBC-TV18's coverage of Assembly election 2022 results

    • Sensex, Nifty50 give up two-thirds of day's gains

      Barring Nifty IT, all sectoral gauges hold on to the green.

      Index Current (%) Day high (%)
      NIFTY BANK 2.2 4.6
      NIFTY AUTO 2.1 4.1
      NIFTY FINANCIAL SERVICES 2.0 4.2
      NIFTY FINANCIAL SERVICES 25/50 1.9 3.9
      NIFTY FMCG 2.5 2.8
      NIFTY IT 0 1.4
      NIFTY MEDIA 0.3 2.6
      NIFTY METAL 1.7 1.7
      NIFTY PHARMA 0.3 1.3
      NIFTY PSU BANK 2.7 4.9
      NIFTY PRIVATE BANK 2.1 4.6
      NIFTY REALTY 2.8 4.1
      NIFTY HEALTHCARE INDEX 0.4 1.4
      NIFTY CONSUMER DURABLES 2.4 2.9
      NIFTY OIL & GAS 0.8 1.2
    • European shares fall 

      European shares begin the day on a weak note despite strong gains across Asia and the US. The pan-European Stoxx 600 index down 1.1 percent in early hours.

      --UK's FTSE benchmark: down 0.7 percent

      --France's CAC: down 1.2 percent 

      --Germany's DAX: down 1.2 percent

      --S&P 500 futures: down 0.6 percent

    • Buy Tata Steel, Tata Consumer: Himanshu Gupta

      Himanshu Gupta of Globe Capital shares two trading calls:

      --Buy Tata Steel for a target of Rs 1,320-1,325 with a stop loss atRs 1,270 

      --Buy Tata Consumer for a target of Rs 750 with a stop loss at Rs 710 

    • Oil may touch $125-130/barrel due to uncertainty over Russia-Ukraine conflict: XM Australia's Peter McGuire

      Crude oil saw its biggest single-day drop since April 2020 today, with Brent cooling of as much as 15 percent from Wednesday's peak of $132 a barrel. Peter McGuire, CEO of XM Australia, says  he wouldn’t be surprised to see crude oil bounce back.

      “Uncertainty in terms of the Russia-Ukraine conflict could push crude prices higher to $125-130 per barrel,” he says. (Read more on crude oil)

      Stock Market Highlights: Sensex ends 817 pts higher, Nifty 5 pts shy of 16,600 as oil retreats, BJP leads in UP
    • Some volatility likely to stay, fundamentals to be in focus once Ukraine crisis behind: Dharmesh Mehta

      Dharmesh Mehta, MD and CEO at Dam Capital Advisors, believes some volatility may continue in the market depending on the global situation. "Whenever the Ukraine crisis is over, people will start looking at fundamentals especially on interest rates globally, where oil prices stabilise etc... So there will be lot of events happening even after the war is over. The markets will take some time to stabilise,” he adds. 

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

    • LIC IPO: best for market if LIC IPO is out of way, says Aditya Narain

      Aditya Narain, MD of Edelweiss Securities, is of the view that if the LIC IPO is out of the way, it will be best for the market. "To some level, the reallocation element will be there but it might not be as pronounced as the market is making it out to be because a lot of buying will come from the retail side. LIC is a well-known name; there is interest in equities on the retail side and the company has gone out and sought retail investors. The balancing that needs to happen with portfolios might be a little less than what is anticipated," he says. 

      Narain also feels that within the BFSI allocation, a certain amount of pressure on other insurers cannot be ruled out. "Even within BFSI, you end up having a certain element of benchmarking. I suspect some of the pressure will lie there, rather than an aggregate on the BFSI, even though I think you will have some pressure there. It's better to have it out of the way than it being a perennial overhang on the market."

      Stock Market Highlights: Sensex ends 817 pts higher, Nifty 5 pts shy of 16,600 as oil retreats, BJP leads in UP
    • Markets hate uncertainty, outcome of state elections to provide policy continuity, stability: HDFC Securities' Devarsh Vakil

      Devarsh Vakil, Deputy Head of Retail Research at HDFC Securities, tells CNBCTV18.com that as predicted by the exit polls, the market was expecting the BJP to garner a majority in Uttar Pradesh. "Markets hate uncertainty and the outcome of these state elections will provide policy continuity and stability. Based on this mandate, the central government will be buoyed to carry out their agenda confidently and look for opportunities to pursue economic reforms," he says.

      "In the past, clear political mandates have led to euphoria though that is unlikely to be the case this time around. Macroeconomic variables are not that conducive for markets to experience a surge in indices as higher crude oil prices have stroked inflation fears. Central bankers around the globe are unwinding their loose monetary policies and raising interest rates, and that will keep markets on the check at higher levels across the globe, including in India," Vakil adds. 

      Catch CNBC-TV18's coverage of Assembly election 2022 results

    • CNBC-TV18 Exclusive | Sources say Ashishkumar Chauhan likely to apply for position of NSE CEO
       
      Ashishkumar Chauhan completes 10 years as MD and CEO of BSE in November 2022. The last date to apply for the top helm at NSE is March 25. (Read more)
    • 'To those who lost huge money in past few weeks...': Shankar Sharma shares a glimse of his Street journey

    • SBI, Axis Bank, HDFC Bank, Bajaj twins, SBI Life up 2-5%

      The Nifty Bank up 3.4 percent at 34,961.2, having surged as much as 4.6 percent earlier in the day.

      Here's how the BFSI pack looks like:  

      Stock Change (%)
      BAJAJFINSV 4.6
      AXISBANK 4.3
      SBIN 4.1
      M&MFIN 4
      CHOLAFIN 3.9
      ICICIPRULI 3.7
      ICICIBANK 3.6
      BAJFINANCE 3.1
      ICICIGI 2.6
      HDFCBANK 2.5
      SBILIFE 2.3
      KOTAKBANK 2.2
      HDFC 2.1
      HDFCLIFE 1.5
      SRTRANSFIN 1
      HDFCAMC 1
      PFC 0.6
      PEL 0.3
      RECLTD 0.2
      MUTHOOTFIN -1
    • Nifty50 holds on to day's gains, tops 5-, 10-day moving averages

      Period (No. of days) Simple moving average Signal
      5 16,223.3 Bullish
      10 16,392.1 Bullish
      20 16,818.1 Bearish
      50 17,318.5 Bearish
      100 17,451.3 Bearish
      200 16,959.8 Bearish
    • Bigger influences for market than state polls at this point: GV Giri

      GV Giri, Head of Research at IIFL Institutional Equities, is of the view that bigger influences are at play for the market at the current juncture than the state polls. "We probably will not be hit with a double whammy. For now, (state) elections become a non-issue... The more the market is going to be faced with significant uncertainty on the geopolitical front, the lesser elections matter for now," he says. 

    • Future Retail receives ices for sub-leased properties from Reliance entities    

      --Reliance Industries: up 1.6 percent

      --Future Enterprises: down 1.1 percent

      --Future Consummer: up 0.7 percent 

      --Future Lifestyle: down 0.9 percent 

      --Future Retail: up 0.2 percent

      --Future Supply: up 0.8 percent

      Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

      Stock Market Highlights: Sensex ends 817 pts higher, Nifty 5 pts shy of 16,600 as oil retreats, BJP leads in UP
    • Assembly Poll Results | Former Punjab Chief Minister Captain Amarinder Singh loses from Patiala

      Catch latest updates on Assembly Elections 2022 results on CNBCTV18.com’s blog 

      Follow minute by minute updates on election results of Uttar PradeshPunjabUttarakhandGoaManipur here

      Click here for our full Assembly Elections 2022 coverage

    • Market correction a good opportunity to buy for long term: Envision Capital's Nilesh Shah

      Nilesh Shah of Envision Capital tells CNBC-TV18 that correction in the market is a good opportunity for long-term investors. He is of the view that India will not enter a stagflation-like situation, which hasn't been witnessed for the past 20-30 years. 

      Challenges persist across various sectors on the margin and growth fronts, he says.

      He also says life insurer stocks have corrected by 40-50 percent and travel, hospitality and discretionary spending shares are looking good. 

    • Buy IndusInd, DLF: Shrikant Chouhan

      Shrikant Chouhan of Kotak Securities shares two trading calls: 

      --Buy IndusInd Bank for a target price of Rs 960-970 with a stop loss at Rs 910 

      --Buy DLF for a target of Rs 375 with a stop loss at Rs 350 

    Stock Market Highlights
    : Indian equity benchmarks Sensex and Nifty50 extended gains to a third straight day after a gap-up start on Thursday, as crude oil prices eased after fanning inflationary fears. Gains across most sectors pushed the headline indices higher, with financial and consumer stocks being the biggest movers. Broader markets mirrored the gains in headline indices, staying well in the green throughout the day. The Nifty Midcap 100 and Smallcap 100 indices rose 0.9 percent and 1.4 percent for the day respectively. Investors closely tracked preliminary numbers of the Assembly polls in five states -- Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa, which are likely to set the tone for the 2024 Lok Sabha polls. 

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