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    Stock Market Highlights: Sensex ends 1,223 pts higher, Nifty reclaims 16,300 led by financial, IT, oil & gas shares

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    Stock Market Highlights: Sensex ends 1,223 pts higher, Nifty reclaims 16,300 led by financial, IT, oil & gas shares

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    Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 extended gains to a second straight day on Wednesday amid broad-based gains, as global markets made a comeback after days of selling. Investors, however, tracked newsflow on the Russia-Ukraine war closely after the US banned Russian oil imports over Moscow's invasion of Ukraine. Financial, IT and oil & gas shares were the biggest contributors to the gain in headline indices, though metal shares played spoilsport. Broader markets also strengthened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices finishing the day 2.2-2.4 percent higher.

    Stock Market Highlights: Sensex ends 1,223 pts higher, Nifty reclaims 16,300 led by financial, IT, oil & gas shares
    • Thank you, readers! That's all from CNBC-TV18.com's live market coverage on March 9, 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 | Catch Assembly election results here

    • Avoid auto stocks in immediate short term, good for medium term: Vaibhav Sanghavi 

      Vaibhav Sanghavi, Co-CEO of Avendus Cap Alt Strategies, suggests avoiding auto stocks for the immediate short term, but is positive on the pack from a medium-term perspective. "In the shorter term, margin pressure would definitely have a big toll on quarterly numbers... We are in a cycle where CVs and PVs, especially on the electric side, are starting to look pretty positive," he says.

      "At bargain levels probably, we have a very serious look at the auto sector on an overall basis," he adds. 

    • Opportunity for investors, traders to rectify mistakes: Dipan Mehta

      Dipan Mehta, Director at Elixir Equities, sees the current juncture in the market as an opportunity for investors and traders to rectify their mistakes. "It's going to be perhaps a slightly longer correction. So if you're more or less fully invested, you can take this opportunity to just increase your cash limits. Leverage positions can be squared up in the F&O market. It gives that brief window where you can position yourself for maybe a further correction in the market by 3-5 percent... At least you're prepared for it," he says. 

    • More downside left in market: Kunj Bansal

      Kunj Bansal of investment-illiteracy.com is of the view that there is more downside in the market. "Even if we have reached a bottom in index terms, we have not reached it in stock terms. Assuming that the war and the geopolitical developments do take a breather in the near future, and I hope they do, one will have to see structurally how the commodity prices settle. If they come down about 10 percent from the peaks that they are currently trading at, then that's not much, because let's keep in mind that that would still be around 15-20 percent more specific to oil... That even applies to metals, agri commodities and wheat," he says. 

      "For an oil import dependent economy like India, that's going to be too much of an impact in terms of macros as well as the impact on some of the sectors. For a real view to be able to come in, I will wait," he adds. 

    • Market At Close | Sensex, Nifty50 near day’s highs

      Here are some highlights:

      --All Nifty Bank members up; HDFC Bank, SBI top gainers

      --13 Nifty stocks rise 3-6 percent; Asian Paints, Reliance, Bajaj Finance top gainers

      --Except Nifty Metal, all sectoral indices in the green; Realty, Auto top gainers

      --Airline, hotel stocks surge on announcement of international flight resumption

      --Unlock theme stocks rise; Delta Corp, Indian Hotels top gainers

      --ONGC, GAIL fall crude prices pare day’s gains

      --Metal stocks fail to hold on to day’s gains as commodity prices slip from highs

      --Indiabulls Housing, Dalmia Bharat, Ashok Leyland top midcap gainers

      --Market breadth firmly in favour of bulls; advance-decline ratio at 5:1

      Stock Market Highlights: Sensex ends 1,223 pts higher, Nifty reclaims 16,300 led by financial, IT, oil & gas shares
    • Asian Paints, Reliance, Bajaj Finance top blue-chip gainers

      IndusInd Bank, Mahindra & Mahindra, Bajaj Finserv and Tata Motors also among the gainers. On the other hand, Shree Cement, ONGC, Power Grid, NTPC, Coal India and Tata Steel the worst hit among the 10 laggards on Nifty50.

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

      A look at the 30-scrip basket:

      Stock Market Highlights: Sensex ends 1,223 pts higher, Nifty reclaims 16,300 led by financial, IT, oil & gas shares
    • Closing Bell | Sensex surges 1,223 points, Nifty50 at 16,345 

      The Sensex index finishes the day up 1,223.2 points or 2.3 percent at 54,647.3 and the Nifty50 benchmark settles at 16,345.4, up 331.9 points or 2.1 percent from its previous close -- both extending gains to a second straight day.

      Gains across sectors push the headline indices higher, with financial, IT and oil & gas shares being top contributors to the gain in headline indices. (Read more on the closing bell)

    • Oil may hit $150-200/bbl if things worsen, revised inflation estimate at 6.5%: Standard Chartered Bank's Suyash Choudhary

      Russia's move to invade Ukraine sent jitters across India's money market. Suyash Choudhary, Head- Fixed Income at IDFC Mutual Fund, and Parul Mittal Sinha, Head of Financial Markets-India and Head of Macro Trading-South Asia at Standard Chartered Bank, decode what is happening in the bond and forex markets, and what to expect in the coming days. (Read more on crude oil)

      Stock Market Highlights: Sensex ends 1,223 pts higher, Nifty reclaims 16,300 led by financial, IT, oil & gas shares
    • Russia-Ukraine war has hit largecap banks hard: HDFC Securities

      Geopolitical shocks have led to deep cuts in largecap banks, Krishnan ASV, Lead Analyst-BFSI at HDFC Securities, tells CNBC-TV18.

      "The one big casualty is inflation and that will be a dampener to growth and that’s the one big macro risk which earlier was not priced in. That’s the one big headwind for the sector,” he says. 

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

    • LIC IPO | Government watching market situation, to take a call on RHP

      With the Russia-Ukraine war and its ensuing impact on global financial markets, including India, all eyes are now on the proposed LIC IPO. Geopolitical tensions have fuelled uncertainty about the launch timeline of the mega LIC IPO as government officials and investment bankers believe March may not be the best time for it.

      Sources say the LIC IPO may see the light of day in April. (Read more on the LIC IPO)

      Stock Market Highlights: Sensex ends 1,223 pts higher, Nifty reclaims 16,300 led by financial, IT, oil & gas shares
    • A large part of FII outflows in financial stocks, valuations compelling: Ajay Bagga

      Market expert Ajay Bagga tells CNBCTV18.com that despite emerging market funds seeing inflows, India is seeing foreign institutional investor (FII) outflows, a large part of which is in financial stocks. "Once that selling tapers out, we will see a bottom forming and then an upmove," he says.

      Bagga is of the view that valuations in Indian financial stocks are "getting to compelling levels". (Read more)

    • FIIs to have a painful entry once they intend to come back: Raamdeo Agrawal

      Raamdeo Agrawal of Motilal Oswal Financial Services tells CNBC-TV18 that in his view, FIIs will have a painful entry once they intend to come back.

      As of March 8, FIIs have pulled out a net Rs 34,239.3 crore from Indian shares for the month so far, according to provisional exchange data.

      Agrawal also says the performance of the fixed income market has been in line with the equity market for the past few months. 

      His advice: Adopt a bottom-up appoach in the market now. 

      He is of the view that the Indian banking story will largely be led by 4-5 major players. (Read more)

      Stock Market Highlights: Sensex ends 1,223 pts higher, Nifty reclaims 16,300 led by financial, IT, oil & gas shares
    • European shares bounce back after 4-day sell-off

      European shares rebound in early hours as investors pick up stocks hammered in a recent sell-off, fuelled by concerns about mounting Western sanctions on Russia after it invaded Ukraine. The pan-European Stoxx 600 index up 3.2 percent at the last count. 

      --UK's FTSE: up 1.7 percent

      --France's CAC: up 3.4 percent

      --Germany's DAX: up 3.7 percent

    • Rail Vikas Nigam to consider interim dividend on March 16    

      RVNL shares at the day's high, up 4.4 percent at Rs 32.

    • Ukraine-Russia war could have long-term impact on already-high inflation: Raghuram Rajan

      Former RBI Governor Raghuram Rajan takes a cautionary stance and suggests that the effects of the Russian invasion of Ukraine might have long-term effects on inflation. In an interview with CNBC-TV18's Latha Venkatesh, Rajan says, "It (the war) is coming on top of an already high level of inflation. Add to it the effects of war, this (further) increases inflation and reduces growth; increases the effect on inflation in the US and Europe. There is a risk that inflationary expectations will become more entranched... Not good news." (Read more on what Raghuram Rajan thinks)

      Stock Market Highlights: Sensex ends 1,223 pts higher, Nifty reclaims 16,300 led by financial, IT, oil & gas shares
    • Cabinet clears setting up National Land Monetisation Corp for CPSE asset monetisation

      the initial authorised share capital of the National Land Monetisation Corp is Rs 5,000 crore. 

    • Buy Cummins, Indian Hotels: Aditya Agarwala 

      Aditya Agarwala of Yes Securities shares two trading calls: 

      --Buy Indian Hotels for a target of Rs 220 with a stop loss at Rs 200 

      --Buy Cummins India for a target of Rs 1,040 with a stop loss at Rs 950 

    • Financial stocks help headline indices surge over 2%

      How the BFSI pack looks like:

      Index Change (%)
      M&MFIN 3.5
      BAJAJFINSV 3.3
      BAJFINANCE 3.1
      MUTHOOTFIN 2.9
      PEL 2.6
      SRTRANSFIN 2.3
      CHOLAFIN 2
      HDFC 1.8
      HDFCBANK 1.7
      PFC 1.6
      SBIN 1.5
      HDFCAMC 1.4
      ICICIGI 1.4
      HDFCLIFE 0.8
      RECLTD 0.7
      ICICIBANK 0.5
      ICICIPRULI 0.1
      AXISBANK 0
      SBILIFE -0.2
      KOTAKBANK -0.8
    • NSE Co-Location Case | CBI to rope in experts to understand nuances 

      The Central Bureau of Investigation (CBI), the agency investigating the alleged NSE co-location scam, will rope in experts to understand the complexities. It will take help from market and forensic experts.

      Earlier, the forensic experts helped the agency in establishing prima facie that Anand Subramanian was the yogi former NSE MD and CEO Chitra Ramkrishna was sharing confidential NSE information with. Before this, the CBI had sought help from a senior psychologist to question Ramkrishna, one of the key accused in the case. (Read more)

      Stock Market Highlights: Sensex ends 1,223 pts higher, Nifty reclaims 16,300 led by financial, IT, oil & gas shares
    • Q&A | Eveready a well known brand, plan to keep it that way, says Dabur's Mohit Burman

      Eveready has made headlines ever since the Burmans stepped in to take control of the batteries and flashlights maker from the Khaitans. 

      In an exclusive interaction with CNBC-TV18, Dabur India Vice-Chairman Mohit Burman says Eveready is "an extremely well known and regarded brand" in India. (Read more)

      Eveready shares up 3.2 percent at Rs 346.4. Dabur up 0.1 percent at Rs 522.

    • HUL appoints Madhusudhan Rao as Executive Director-Beauty & Wellbeing, Personal Care

      The FMCG major also appoints Deepak Subramanian as Executive Director-Home Care. 

      HUL shares gain as much as 2.5 percent to Rs 1,996.1.

    • AMFI Data | Sundaram MF's Sunil Subramaniam says domestic investors not bothered about war, commodity price-related issues

      Sunil Subramaniam, MD and CEO of Sundaram Mutual Fund, says the latest monthly AMFI data highlights three factors: 

      --Faith in Indian economy for domestic investor; bullishness around the economy

      --The TINA (there is no alternative) factor, which means lack of alternatives 

      --Consumer surpluses growing

      He is of the view that domestic investors are not bothered about issues related to the Russia-Ukraine war or rising commodity prices. "Margins of some companies may be under pressure because of oil prices rising but India's growth story, is not significantly affected by the conflict," he says. 

      "Today, with the valuations correcting, you will see the fund managers quickly increase their equity allocation and so from an investor perspective, the decision is being taken by an expert. That is why that set of balanced advantage dynamic asset allocation is getting good flows," Subramaniam adds. 

    • AMFI Data | SIP contribution at Rs 11,438 crore in February vs Rs 11,517 crore in previous month

    • AMFI Data | Total AUM slip to Rs 37.6 lakh crore in February from Rs 38 lakh crore in January

      Here are some highlights of the monthly MF data from industry body AMFI: 

      --Net equity inflow up 35 percent sequentially at Rs 19,645 crore

      --Hybrid fund inflow at Rs 3,177 crore in February vs Rs 6,230 crore in January

      --Liquid fund inflow at Rs 40,273 crore in February vs outflow of Rs 14,398 crore in previous month

      --ETF inflow at Rs 10,791 crore vs Rs 4,009 crore MoM

      --Credit risk outflow at Rs 388 crore vs Rs 197 crore outflow MoM

      --Total debt scheme outflow at Rs 8,274 crore vs Rs 5,008 crore inflow in January

      --Corp bond fund outflow at Rs 10,219 crore vs Rs 936 crore outflow MoM (Read more on AMFI data)

      Stock Market Highlights: Sensex ends 1,223 pts higher, Nifty reclaims 16,300 led by financial, IT, oil & gas shares
    • AMFI Data | Net equity inflow at Rs 19,645 crore in February vs Rs 14,552 crore in previous month

    • Buy Reliance Industries, Infosys: Prakash Gaba  

      Prakash Gaba of prakashgaba.com shares two trading calls: 

      --Buy Reliance Industries for a target of Rs 2,350 a stop loss at Rs 2,250

      --Buy Infosys for a target of Rs 1,850 with a stop loss at Rs 1,800 

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

    • Reliance Industries, Infosys, HDFC twins top index movers

      Hindustan Unilver, Tech Mahindra, TCS and Bharti Airtel also among the top contributors to the gain in headline indices. 

      On the other hand, weakness in stocks such as Kotak Mahindra Bank, ICICI Bank and Axis Bank limit the upside. 

      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 1,223 pts higher, Nifty reclaims 16,300 led by financial, IT, oil & gas shares
    • Buy Tata Elxsi, sell Whirlpool: Ashish Kyal

      Ashish Kyal of Waves Strategy shares two trading calls: 

      --Buy Tata Elxsi for a target of Rs 7,300 with a stop loss at Rs 6,525 

      --Sell Whirlpool for a target of Rs 1,455 with a stop loss at Rs 1,630 

    • Air alert declared in and around Kyiv: AP 

      Kyiv residents urged to get to bomb shelters, according to the agency. 

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

    • Add ICICI Bank, HDFC to portfolio at corrected levels: Deven Choksey

      Deven Choksey of KRChoksey is of the view that it is the right time to add ICICI Bank and HDFC to the portfolio at corrected levels. "Some of the financials, the banks in particular, having a good amount of prospects have been badly hammered... That is largely because of no fault of theirs on the fundamental side but the situation of the global investors reducing the rate and taking the money out of the country is basically resulting into a sharp fall in the prices of some of the corporate banks, particularly the likes of ICICI Bank," he says. 

      Choksey says: "ICICI Bank for FY24 projected earnings is right now available at two times the price to book, which is possibly lower than its five-year average. There is a trade now for this kind of stock to buy into the portfolio."

    Stock Market Highlights
    : Indian equity benchmarks Sensex and Nifty50 extended gains to a second straight day on Wednesday amid broad-based gains, as global markets made a comeback after days of selling. Investors, however, tracked newsflow on the Russia-Ukraine war closely after the US banned Russian oil imports over Moscow's invasion of Ukraine. Financial, IT and oil & gas shares were the biggest contributors to the gain in headline indices, though metal shares played spoilsport. Broader markets also strengthened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices finishing the day 2.2-2.4 percent higher.

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