Share Market HIGHLIGHTS: Nifty back above 17,150, Sensex rises 140 pts for day ahead of Fed rate decision; all eyes on Jerome Powell
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty and Sensex held on to the green on Wednesday, a day after the Indian stock market nearly recovered the previous day's losses in a strong session. All eyes globally are on the outcome of a key rate decision by Fed Chair Jerome Powell and his team of US policymakers due at 11:30 pm India time. Catch minute-by-minute updates on the FOMC meeting LIVE
Here are some of the headlines in focus on Dalal Street:
- Rakesh Jhunjhunwala to be awarded Padma Shri posthumously today
- Anil Singhvi wealth creation pick: DLF is ready for an ITC moment
- Citi upgrades this airline stock for first time in over two years; should you buy, sell or hold?
- Emami shares soar, hit analysts' target price — what's driving the FMCG stock
- A 1,300% dividend may not guarantee a 'buy' rating; Citi maintains 'sell' on Hindustan Zinc
- Could Federal rate action jolt gold price today? Here's what experts suggest
Catch highlights of minute-by-minute action in the Indian stock market on March 22, 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 held on to the green on Wednesday, a day after the Indian stock market nearly recovered the previous day's losses in a strong session. All eyes globally are on the outcome of a key rate decision by Fed Chair Jerome Powell and his team of US policymakers due at 11:30 pm India time. Catch minute-by-minute updates on the FOMC meeting LIVE
Here are some of the headlines in focus on Dalal Street:
- Rakesh Jhunjhunwala to be awarded Padma Shri posthumously today
- Anil Singhvi wealth creation pick: DLF is ready for an ITC moment
- Citi upgrades this airline stock for first time in over two years; should you buy, sell or hold?
- Emami shares soar, hit analysts' target price — what's driving the FMCG stock
- A 1,300% dividend may not guarantee a 'buy' rating; Citi maintains 'sell' on Hindustan Zinc
- Could Federal rate action jolt gold price today? Here's what experts suggest
Catch highlights of minute-by-minute action in the Indian stock market on March 22, 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:
Latest Updates
Share Market Update | Nifty 50 revisits 17,150 mark, Nifty Bank at 39,999; Sensex closes with a gain of 140 pts at 58,215
Both headline indices finish the day with gains to the tune of one-third of a per cent. The Nifty50 ends with a gain of 44.4 points at 17,151.9, having broadly moved within the 17,100-17,200 band during the session.
The Sensex adds 139.9 points to settle at 58,214.6, having risen as much as 344.1 points during the session.
The banking index ends 104.4 points or 0.3 per cent higher for the day at 39,999.1.
Here's how Nifty50 and Sensex moved through the day:
Nifty 50
Sensex
Share Market Today LIVE: Sensex, Nifty hold on to gains
Indian equity benchmarks Nifty 50 and BSE Sensex sustained gains boosted by financials, IT stocks and index heavyweight Reliance Industries ahead of the crucial US Federal Reserve meeting. The broader Nifty 50 traded almost 30 points higher, or 0.17 per cent, at 17,137 at 2:29 PM. The benchmark BSE Sensex also traded higher by almost 111.17 points higher, or 0.19 per cent, at 58185 at 2:30 PM.
Share Market Today LIVE | Fine Organic, Paytm, Emami among top gainers in BSE 500 universe
Sobha, MedPlus, Saregama and ABB are among the worst hit among some 200 laggards in the broadest index on the bourse.
Share Market Today LIVE | Reliance, ICICI Bank, Bajaj twins, TCS, L&T top boosts for index
On the other hand, stocks such as HDFC Bank, Infosys and Kotak Mahindra Bank pose maximum pressure on Sensex.
Share Market Today LIVE | IndiGo shares hold on to the green after Citi upgrades the airline for first time since November 2020
Shares in InterGlobe Aviation — which owns and operates the IndiGo airline — rise by as much as Rs 23.6 or 1.3 per cent to Rs 1,898.7 apiece.
Here's a look at the brokerage's rating action on IndiGo in the past:
| Date | Rating | Target |
| 21-03-2023 | Buy | 2,400 |
| 05-02-2023 | Sell | 1,950 |
| 06-11-2022 | Sell | 1,650 |
| 07-02-2022 | Sell | 1,550 |
| 29-10-2021 | Sell | 1,710 |
| 28-07-2021 | Sell | 1,580 |
| 07-06-2021 | Sell | 1,330 |
| 25-05-2021 | Sell | 1,550 |
| 25-11-2022 | Sell | 1,400 |
| 28-09-2020 | Neutral | 1,300 |
Sensex LIVE | Bajaj twins, IndusInd, M&M, L&T, Tata Motors top gainers
Here's a look at the 30-scrip basket:
Stock Market Tips LIVE | Buy Colgate-Palmolive, TVS Motor shares, says Swati Hotkar
Swati Hotkar of Nirmal Bang Securities shares two stock recommendations with Zee Business viewers:
- Buy Colgate-Palmolive for a target of Rs 1,540 with a stop loss at Rs 1,480
- Buy TVS Motor Company for a target of Rs 1,110 with a stop loss at Rs 1,050
Gudi Padwa 2023: Currency market shut today for Gudi Padwa holiday
The currency market remains closed today for the Gudi Padwa holiday. The Indian rupee declined by six paise to settle at 82.62 against the US dollar on Tuesday amid a strengthening dollar overseas and mixed global cues.
India's currency market will resume trading at 9 am on March 23, Thursday.
Bajaj twins, Reliance, Larsen & Toubro, ICICI Bank top boosts for headline index
Here's a look at the heatmap in the Nifty 50 basket:
Share Market Today | Nifty 50, Sensex rise as much as 0.6% in early trade
Sensex LIVE | The 30-scrip index gains as much as 344.1 points to touch 58,418.8 within the first 20 minutes of the session.
Share Market Today LIVE | Nifty 50 rises 100 pts to cross 17,200
Nifty LIVE | The 50-scrip index gains 99.8 points to touch 17,207.3 at the strongest level of the day so far.
Anil Singhvi Market Strategy | Support for Nifty 50 at 17,000-17,050 levels, for Nifty Bank in 39,600-39,750 area
Zee Business Managing Editor Anil Singhvi sees a strong buy zone for the Nifty50 benchmark coming in at 16,850-16,950 levels. For the Nifty Bank, he expects a strong buy zone in the 39,375-39,500 band.
Read more on how Anil Singhvi views the India share market today and what he recommends
Share Market Today LIVE | SGX Nifty futures rise over 50 pts, indicate positive start ahead in Nifty 50; Sensex may follow suit
Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty50 index — gain as much as 53 points or 0.3 per cent to 17,197 ahead of the opening bell in the Indian stock market.
This suggests a likely positive start for the Nifty index, due in less than 25 minutes now.
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