Share Market HIGHLIGHTS: Nifty 50 reclaims 17,100, Sensex back above 58,000; HDFC Bank, ICICI Bank aid 500-point surge in banking index
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty and Sensex finished a strong session with gains to the tune of a quarter of a per cent on Tuesday, led by financial and oil & gas shares, amid positive moves across global markets as the rescue of Credit Suisse brought some relief to investors hurt by heavy selling in bank shares over the past few days though caution persisted. Tuesday's move brought the Nifty50 and the Sensex back above the psychologically-important levels of 17,100 and 58,000 respectively.
Here are some of the stocks in focus in Dalal Street:
- Anil Singhvi recommends Tata Motors as wealth creation pick, targets Rs 550, Rs 700
- SBI Card, Hindustan Zinc boards approve dividends
- GAIL, Nalco, HUDCO, 5 other stocks go ex-dividend
- Bank of Baroda-supported IndiaFirst Life gets Sebi nod to launch IPO
- RBL Bank shares rise as investors digest RBI action
- Bajaj Finserv's Sanjiv Bajaj calls Indian banking strong, asks lenders to keep focusing on risk management
Globally, investors await a key decision on the benchmark interest rates by the FOMC due later on Wednesday India time. The incoming Fed statement comes at a time when major central banks are faced with the Herculean task of balancing red-hot inflation with economic growth.
Catch highlights of all the action in the Indian stock market on March 21, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty and Sensex finished a strong session with gains to the tune of a quarter of a per cent on Tuesday, led by financial and oil & gas shares, amid positive moves across global markets as the rescue of Credit Suisse brought some relief to investors hurt by heavy selling in bank shares over the past few days though caution persisted. Tuesday's move brought the Nifty50 and the Sensex back above the psychologically-important levels of 17,100 and 58,000 respectively.
Here are some of the stocks in focus in Dalal Street:
- Anil Singhvi recommends Tata Motors as wealth creation pick, targets Rs 550, Rs 700
- SBI Card, Hindustan Zinc boards approve dividends
- GAIL, Nalco, HUDCO, 5 other stocks go ex-dividend
- Bank of Baroda-supported IndiaFirst Life gets Sebi nod to launch IPO
- RBL Bank shares rise as investors digest RBI action
- Bajaj Finserv's Sanjiv Bajaj calls Indian banking strong, asks lenders to keep focusing on risk management
Globally, investors await a key decision on the benchmark interest rates by the FOMC due later on Wednesday India time. The incoming Fed statement comes at a time when major central banks are faced with the Herculean task of balancing red-hot inflation with economic growth.
Catch highlights of all the action in the Indian stock market on March 21, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
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Dividend News | SBI Card declares 25% dividend
SBI Cards & Payment Systems' board approves a dividend of Rs 2.5 per share — a 25 per cent payout.
SBI Card shares finished the day with a gain of Rs 7 or one per cent at Rs 717.5 apiece on the bourse ahead of the dividend news.
Global Market Update | Dow Jones futures jump over 250 pts, indicate positive start ahead on Wall Street; S&P 500, Nasdaq Composite follow suit
The futures contracts of the three main Wall Street indices — the Dow Jones Industrial Average, the S&P 500 and the US megacap tech stocks-heavy Nasdaq Composite — suggest a gap-up start ahead in the US market today.
- Dow Jones futures: up 272 points — or 0.8 per cent — at 32,728
- S&P 500 futures: up 26.5 points — or 0.7 per cent — at 4,009.5
- Nasdaq futures: up 38.8 points — or 0.3 per cent — at 12,727.5
Share Market Update | Nifty 50 reclaims 17,100, Sensex rises 446 pts to end at 58,075; Nifty Bank soars over 500 pts driven by HDFC Bank, ICICI Bank
Both headline indices finish the strong session three-quarters of a per cent higher. The Nifty leaps 119.1 points to end at 17,107.5 and the Sensex adds 446 points for the day to 58,074.7.
Here's how the indices moved through the day:
Nifty 50
Sensex
Read more on the March 21 session
Nifty LIVE | Reliance, ICICI Bank, HDFC twins, Axis Bank top movers
Here's a look at the heatmap in the 50-scrip blue-chip basket:
Share Market Today LIVE | Saregama, CSB Bank, Anupam Rasayan, Sterling & Wilson Renewable rise most among some 325 gainers in BSE 500 universe
On the other hand, Capri Global Capital, GMR Infra and Teamlease are the top laggards in the 500-scrip basket.
Share Market Tips LIVE | HDFC AMC, Hero MotoCorp, 5 other stocks analysts recommend buying for up to 59% return
Stock Market Tips LIVE | Buy Bank of Baroda, Shriram Finance shares, says Shilpa Rout
Shilpa Rout of Prabhudas Lilladher shares two trading calls with Zee Business viewers:
- Buy Bank of Baroda for targets of Rs 168 and Rs 171 with a stop loss at Rs 159
- Buy Shriram Finance for targets of Rs 1,285 and Rs 1,330 with a stop loss at Rs 1,220
Share Market Today LIVE | IndiGo shares rise after airline's monthly traffic rises 37% above pre-COVID levels
The stock of InterGlobe Aviation — the operator of airline IndiGo — rise by as much as Rs 51.4 or 2.8 per cent to Rs 1,907.8 apiece on BSE. The airline's passenger traffic grew 71 per cent on a year-on-year basis in February 2023.
According to Morgan Stanley, the valuation of IndiGo is attractive though the stake sale by promoters is an overhang. The brokerage has an 'overweight' rating on IndiGo.
Sensex LIVE | Reliance, ICICI Bank, Bajaj Finance, Larsen & Toubro, Bharti Airtel top boosts for index
Here's a look at the top movers and shakers in the 30-scrip basket at this hour.
Share Market Tips LIVE | Mehul Kothari recommends buying 17,100 call option
Mehul Kothari of Anand Rathi Shares & Stock Brokers has one derivative recommendation for Zee Business viewers. He suggest buying the 17,100 call option of the 50-scrip Nifty index at Rs 68 for a target of Rs 100-150 with a stop loss at Rs 30.
Share Market LIVE Today | RBL Bank shares in demand as investors digest RBI action over recovery agent norms
RBL Bank shares hold on firmly to the green, rising by as much as Rs 3.5 or 2.5 per cent to Rs 140.6 apiece on BSE. On Monday, the RBI imposed a penalty on the private sector lender for non-compliance with norms related to recovery agents.
The RBI said that the penalty has been imposed for non-compliance with certain provisions of:
- Internal Ombudsman Scheme, 2018
- Fair Practices Code for Lenders
- Credit Card Operations of Banks
- Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks
- Recovery Agents engaged by Banks
Stock Market Tips LIVE | Buy Larsen & Toubro, Axis Bank shares, says Shivangi Sarda
Shivangi Sarda of Motilal Oswal Financial Services shares two recommendations with Zee Business viewers:
- Buy Larsen & Toubro (LT) for a target of Rs 2,310 with a stop loss at Rs 2,180
- Buy Axis Bank (AXISBANK) for a target of Rs 880 with a stop loss at Rs 830
Global Market Update | Dow Jones futures barely in the green, indicate a muted start ahead in US stock market later today
Here what the futures contracts of the three main US share market — the Dow Jones Industrial Average, the S&P 500 and the US megacap tech stocks-heavy Nasdaq Composite — indicate at this hour:
- Dow Jones: up nine pts at 32,465
- S&P 500: up 2.8 pts at 3,985.8
- Nasdaq Composite: up 9.8 pts at 12,698.3
Global Market Update | Asian equities rise as Credit Suisse rescue allays concerns about contagion in financial shares
Other major markets across Asia hold on firmly to the green, as the rescue of Credit Suisse stems heavy selling in bank shares, with MSCI's broadest index of Asia-Pacific shares outside Japan trading up 0.5 per cent at this hour.
Here's how some of the major gauges are faring:
- China's Shanghai Composite: up 0.2 per cent
- Hong Kong's Hang Seng: up 0.3 per cent
- Singapore's Straits Times: up 1.3 per cent
- South Korea's KOSPI: up 0.2 per cent
- Japan's Nikkei 225: market shut for Spring Equinox holiday
Investors the world over await a key rate decision by the Fed due this month.