Share Market HIGHLIGHTS: Sensex rallies 1,031 pts, Nifty 50 reclaims 17,350 on last day of FY; investors globally look beyond banking system woes
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex rallied on Friday amid broad-based gains, as investors returned to trade following the Ram Navami market holiday. Financial, IT, oil & gas and metal shares were the top contributors to the gain in both Nifty 50 and Sensex in morning deals.
Among heavyweights, ICICI Bank, Infosys, HDFC Bank, Axis Bank, Tata Motors and Reliance were among the top boosts for the Indian share market.
Globally, equities staged cautious gains after the Joe Biden administration proposed stricter rules for banks to safeguard the banking system, following the collapse and rescue of Silicon Valley Bank (SVB) and Signature Bank.
Catch HIGHLIGHTS of all the action in the Indian stock market on March 31 — the last trading session and the last day of the financial year 2022-23, 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 50 and Sensex rallied on Friday amid broad-based gains, as investors returned to trade following the Ram Navami market holiday. Financial, IT, oil & gas and metal shares were the top contributors to the gain in both Nifty 50 and Sensex in morning deals.
Among heavyweights, ICICI Bank, Infosys, HDFC Bank, Axis Bank, Tata Motors and Reliance were among the top boosts for the Indian share market.
Globally, equities staged cautious gains after the Joe Biden administration proposed stricter rules for banks to safeguard the banking system, following the collapse and rescue of Silicon Valley Bank (SVB) and Signature Bank.
Catch HIGHLIGHTS of all the action in the Indian stock market on March 31 — the last trading session and the last day of the financial year 2022-23, 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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Breakout in Nifty Bank confirms positive momentum, immediate support at 40,200: LKP Securities' Kunal Shah
Kunal Shah of LKP Securities says the breakout in the Nifty Bank past a key hurdle at 40,000 with buying action throughout the day confirms the positive momentum with immediate support at 40,200.
The index has surpassed its 200-day moving average, which signals a change of polarity, he points out.
Share Market Update | Sensex rallies 1,031 pts to end eight pts shy of 59,000, Nifty skyrockets past 17,350, Nifty Bank index soars 700 pts to 40,600
Both headline indices finish the day more than 1.5 per cent higher riding on the back of the sustained across-the-board rally through the day.
The Sensex surges 1,031.4 points to end at 58,991.5, and the Nifty settles at 17,359.8, up 279.1 points or 1.6 per cent from its previous close.
Here's how the indices moved through the day:
Nifty 50
Sensex
Read more on the March 31 session
Global Market LIVE | European shares begin day on sluggish note as investors await US, eurozone inflation data
European markets begin the day largely unchanged on Friday — the last trading session of a turbulent March — as concerns ease about a global banking crisis but investors remain on the back foot ahead of key inflation readings from the US and the eurozone. The pan-European Stoxx 600 index is flat at this hour.
Here's how three of the main indices in the region fare:
- UK's FTSE 100: up 0.2 per cent
- France's CAC: up 0.1 per cent
- Germany's DAX: up 0.1 per cent
Share Market Tips LIVE | Sumeet Bagadia recommends buy on Bajaj Finance shares
Sumeet Bagadia of Choice Equity Broking has a 'buy' call on Bajaj Finance at Rs 1,267.5 apiece. He has placed his targets at Rs 1,300 and Rs 1,325 for the NBFC major and recommends a stop loss at Rs 1,240.
Share Market Today LIVE | Capri Global Capital, Sonata Software, Brightcom Group, Easy Trip Planners, Lodha rise most among almost 400 gainers in BSE 500 universe
On the other hand, Kalyan Jewellers India, Torrent Power, Bajaj Electricals, Oil India were the worst hit among the laggards.
Share Market Today LIVE | Vedanta shares slide into the red amid large deals
Vedanta shares decline by Rs 5.6 or two per cent to Rs 276.2 apiece on BSE at the weakest level of the day so far.
At 1:40 pm, the stock is quoting down 1.7 per cent on the day at Rs 277 apiece on the bourse, trading in huge volumes. As many as 3.8 crore Vedanta shares have changed hands on BSE so far on BSE as against a daily average of 7.6 lakh in the past two weeks, according to provisional exchange data.
A total of 5.2 crore Vedanta shares — equivalent to 1.4 per cent of the company's total equity — changed hands in large deals.
Nifty Bank LIVE Today: Nifty Bank jumps 1.43%; all constituents advancing
Nifty Bank's 12 constituents including the country's largest lenders SBI, HDFC Bank, ICICI Bank and Axis Bank trade in green. Nifty Bank which formed a day high at 40,563.5 is up by 572.55 points or 1.43 per cent to 40,482.70 level. Nifty Bank opened at 40,231.25 levels on Friday. ICICI Bank, HDFC Bank and Axis Banks are among the top contributors.
Source: NSE
Sensex LIVE | Reliance, ICICI Bank, Infosys top movers
Among the top contributors to the gain in the 30-scrip index at this hour are Reliance, ICICI Bank, Infosys and Nestle India. On the flipside, Asian Paints, Maruti Suzuki and Hindustan Unilever pose the maximum pressure, limiting the upside in Sensex.
Gold Rate LIVE | MCX gold futures see-saw between gains and losses, hover in Rs 59,821-59,995 range
MCX gold futures (June 5) are down by Rs 59 or 0.1 per cent at Rs 59,836 per 10 grams.
Image: MCX
Share Market Today LIVE | Bandhan Bank shares hold on to the green after lender opens 50 branches in one day
Bandhan Bank shares are in high demand on Dalal Street, after the lender announces the opening of 50 new branches in a single day.
Bandhan Bank says it is well on its journey of diversification of asset book and geographical presence, taking its network to more than 1,300 branches.
Nifty LIVE | Reliance, Nestle, ICICI Bank rise most in 50-scrip blue-chip basket; Sun Pharma, Apollo Hospitals, Titan top laggards
Top Nifty gainers
| Stock | CMP | Change (%) |
| RELIANCE | 2311.35 | 3.43 |
| NESTLEIND | 19611.7 | 2.93 |
| ICICIBANK | 875.65 | 2.9 |
| DRREDDY | 4649.55 | 1.79 |
| TECHM | 1100.1 | 1.76 |
Top Nifty losers
| Stock | CMP | Change (%) |
| SUNPHARMA | 986 | -0.59 |
| APOLLOHOSP | 4338.25 | -0.57 |
| TITAN | 2504.05 | -0.44 |
| BAJFINANCE | 5602.15 | -0.41 |
| ASIANPAINT | 2760 | -0.38 |
Nifty LIVE | Reliance, ICICI Bank, Infosys, HDFC Bank, TCS top movers
As many as 36 stocks in the Nifty50 basket are holding on to the green at this hour.
Here's a look at the heatmap by weight:
Share Market Tips LIVE | Buy Data Patterns shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart shares recommends buying TVS Electronics shares around Rs 325-odd levels for a short-term target of Rs 345 with a stop loss at Rs 320.
The company is expected to benefit from the government's Production-Linked Incentive (PLI) scheme, he says.
Share Market Tips LIVE | Buy AB Fashion shares, says Sumeet Bagadia
Sumeet Bagadia of Choice Equity Broking recommends buying AB Fashion shares for targets of Rs 220 and Rs 225 with a stop loss at Rs 209.
