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Stock Market Highlights: Sensex ends 581 pts higher, Nifty50 reclaims 16,000; TCS, TechM, Wipro jump 3%

Stock Market Highlights: Sensex ends 581 pts higher, Nifty50 reclaims 16,000; TCS, TechM, Wipro jump 3%

Stock Market Highlights: Sensex ends 581 pts higher, Nifty50 reclaims 16,000; TCS, TechM, Wipro jump 3%
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Summary

Stock Market LIVE Updates: Indian equity benchmarks Sensex and Nifty50 ended a choppy session higher on Tuesday, amid gains in financial and IT shares, halting a four-day losing streak. However, weakness in metal and select oil & gas stocks played spoilsport. Investors globally remained on the back foot tracking newsflow on the Russia-Ukraine war. Broader markets managed to stay above the flatline throughout the day, with the Nifty Midcap 100 and Nifty Smallcap indices finishing with gains of 1.2 percent and 1.5 percent respectively.

Live Updates

Thank you, readers! That's all from CNBC-TV18.com's live market coverage on March 8, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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

Mar 8, 2022 6:01 PM

HDFC Bank remains one of our top picks in banking space: Angel One's Jyoti Roy 

Jyoti Roy, DVP- Equity Strategist at Angel One, tells CNBCTV18.com HDFC Bank remains one of their top picks in the banking space given its reasonable valuation, best-in-class asset quality and an expected rebound in growth from FY23. "Recent correction in HDFC Bank has largely been due to overall negative sentiments in the market due to the Russia-Ukraine war, which has led to a global risk-off environment, and not due to any deterioration in the fundamentals of the company," he said. 

Mar 8, 2022 5:53 PM

Tech stocks should continue to outperform: Rohit Srivastava

Rohit Srivastava, Founder and Strategist at Indiacharts.com, is positive on the tech space, especially the kind of services that India provides. "Tech has essentially become a defensive sector because it is something we can't do given the online world that we live in," he says.

"Even in the pandemic and now, I think it's pretty much ingrained. So if we simply look at the behaviour of tech stocks. They had run up a lot ahead of the January results. I think a lot of profit booking took place. But as we go to a slightly higher timeframe, the tech index or tech stocks like Infosys and Tech Mahindra have not really broken their 200-day averages," says Srivastava, who likes IT more than banking. 

Mar 8, 2022 5:29 PM

Market oversold for the time being, definitely see a bounce ahead: Mehraboon J Irani

Market expert Mehraboon J Irani believes that the market appears is oversold for the time being, and sees a bounce ahead. "I personally believe that there are so many things that can’t be defined. Honestly, nobody knows what's going to happen tomorrow... We are all living on hope," he says. 

Mar 8, 2022 5:11 PM

Rupee ends marginally higher at 76.91 against US dollar

The rupee settles at 76.91 against the greenback, not far from a record low of 76.96 hit in the previous session.

Stock Market Highlights: Sensex ends 581 pts higher, Nifty50 reclaims 16,000; TCS, TechM, Wipro jump 3%
Mar 8, 2022 4:41 PM

Market At Close | Sensex, Nifty50 snap 4-day losing streak

Here are some highlights: 

--Banking stocks lead market recovery

--Realty, media, PSU bank, IT indices gain most among sectoral gauges

--36 Nifty stocks rise; IOC, Sun Pharma top gainers

--Infosys, TCS, ICICI Bank, HDFC top contributors to Nifty recovery

--All Nifty Bank rise; ICICI, HDFC Bank top contributors

--ONGC top Nifty loser despite crude holding on to gains

--JK Cement top midcap loser, down 18 percent in 2 session on paint business entry

--Aluminium price fall drags Hindalco, Vedanta, Nalco stocks

--City gas distribution cos surge; European nations to keep buying gas from Russia

--PVR up 6 percent positive brokerage report on Cinepolis merger talks

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

Stock Market Highlights: Sensex ends 581 pts higher, Nifty50 reclaims 16,000; TCS, TechM, Wipro jump 3%
Mar 8, 2022 4:21 PM

Market At Close | IOC, Sun Pharma, Tata Consumer, Cipla, TCS top blue-chip gainers

On the other hand, Hindalco, ONGC, Tata Steel, JSW Steel, Britannia, UPL and Nestle worst hit among 13 Nifty50 laggards.

How the 30-scrip basket fared: 

Stock Market Highlights: Sensex ends 581 pts higher, Nifty50 reclaims 16,000; TCS, TechM, Wipro jump 3%
Mar 8, 2022 3:51 PM

Closing Bell | Sensex up 581 points, Nifty50 reclaims 16,000

The 30-scrip Sensex index rises 581.3 points or 1.1 percent to end at 53,424.1y, and the Nifty50 benchmark settles at 16,013.5, up 150.3 points or one percent from its previous close. (Read more on the March 8 session)

Mar 8, 2022 3:36 PM

LIC IPO delay may force PSUs to pay a higher dividend to Centre: Report

The likely deferral of the proposed LIC IPO — set to be India's biggest public offering — to FY23 is expected to increase the budget shortfall for FY22, thereby pressuring the Reserve Bank of India (RBI), public sector banks, and state-run companies to pay a higher dividend to the government.

Mar 8, 2022 3:28 PM

Nifty Metal is down over 2 percent dragged by NALCO, SAIL and Hindalco Industries

Mar 8, 2022 3:21 PM

Adani Ports signs agreement with IOC Augmentation of IOC’s crude oil volumes at Mundra

Adani Ports and Special Economic Zone Ltd (APSEZ) has signed an agreement with Indian Oil Corp Ltd (IOCL) towards augmentation of IOC’s crude oil volumes at Mundra. IOCL shall expand its existing Crude Oil Tank Farm at APSEZ’s Mundra Port, thus enabling it to handle and blend additional 10 mmtpa crude oil at Mundra. This will support IOCL’s expansion of its Panipat Refinery (Haryana).

Mar 8, 2022 3:16 PM

Motherson Sumi down 18% in 5 sessions; Europe exposure, semiconductor supply hit weigh

Motherson Sumi is under pressure and is down almost seven percent in trade today (March 8). The year the stock has almost halved from the start of 2022 and the reason is that it has a big exposure to the European markets. In the last 5 trading sessions, the stock is down 18 percent and in the past six months, it has fallen 42 percent.

Mar 8, 2022 3:09 PM

Sun Pharma, Tata Consumer Products, IOC are the top gainers as market recovers in last hour of trade

Mar 8, 2022 3:01 PM

BSE Realty index added over 1 percent led by the Macrotech Developers, DLF, Sobha

Mar 8, 2022 2:52 PM

Buy HCL Tech Rs 1,200 strike call option: Shubham Agarwal

Shubham Agarwal, CEO and Head-Research at Quantsapp Advisory, shares three trading calls: 

--Buy HCL Technologies Rs 1,200 strike call option for a target of Rs 34 with a stop loss at Rs 15

--Buy Indiabulls Housing Rs 130 strike put option for a target of Rs 12 with a stop loss at Rs 5 

--Sell Shriram Transport Finance for a target of Rs 920 with a stop loss at Rs 1,070

Mar 8, 2022 2:45 PM