Sensex Nifty rebound on gains banking oil gas shares
Mumbai Mar 28 PTI Benchmark stock indices Sensex and Nifty reversed early losses to close higher by 040 per cent on Monday helped by buying in index heavyweight Reliance Industries ICICI Bank and Bharti Airtel amid gains in global equities After falling 53711 points to a low of 5682509 in morning trade the 30-share BSE barometer staged a recovery in afternoon trade and climbed 23129 points or 040 per cent to settle at 5759349 As many as 20 Sensex stocks closed with gains while 10 declined The broader NSE Nifty recovered 69 points or 040 per cent to settle at 17222 with 29 of its constituents ending in green Bharti Airtel rose the most by 34 per cent among Sensex stocks Axis Bank rose by 213 per cent ICICI Bank by 159 per cent and SBI by 144 per cent Reliance Industries rose by nearly 1 per cent helping the barometer recover from losses IndusInd Bank rose by 133 per cent Bajaj Finserve by 109 per cent while Kotak Bank and HDFC Bank also advanced FMCG major ITC jumped 154 per cent while Hindustan Unilever rose by 1 per cent Among losers Nestle fell the most by 183 per cent HDFC by 158 per cent and HCL Tech by 141 per cent Dr Reddy dropped 14 per cent Asian Paints by 064 per cent and Wipro by 059 per cent due to profit booking Shares of multiplex chains PVR and Inox Leisure Ltd spurted after the two companies announced a merger deal to create the countrys largest multiplex chain with over 1500 screens PVR shares rose by 306 per cent to Rs 188350 at close Inox Leisure Ltd hit the upper circuit limit of Rs 56360 before closing at Rs 52290 up by 1133 per cent over the previous close Benchmark indices reversed early morning losses on positive global cues according to S Ranganathan Head of Research at LKP securities Even though the Ukraine war and the consequent crude spike impacted markets initially the war is not impacting markets much now The major headwinds for markets in 2022 will continue to be the high US inflation and Fed tightening said V K Vijayakumar Chief Investment Strategist at Geojit Financial Services In the broader market the BSE smallcap index declined 053 per cent and midcap gauge dipped 040 per cent Markets once again witnessed sideways movement but finally managed to end on a higher note because of sharp gains in banking and oil gas stocks said Shrikant Chouhan Head of Equity Research Retail Kotak Securities Ltd Among BSE sectoral indices oil and gas up 107 per cent bank 101 per cent energy 097 per cent and telecom 073 per cent were the major gainers Mixed global cues combined with a lack of any domestic trigger are causing volatile swings in the index However the rotational buying in select index majors is helping the benchmark to hold at higher levels Ajit Mishra VP – Research Religare Broking Ltd said Equity exchanges in Tokyo and Seoul settled lower while Hong Kong and Shanghai ended higher Stock exchanges in the US also ended on a mixed note on Friday European markets were trading with gains as investors weigh the developments of the war between Russia and Ukraine Meanwhile international oil benchmark Brent crude declined 346 per cent to USD 1163 per barrel Foreign institutional investors FIIs were net sellers in the capital market as they sold shares worth Rs 150737 crore on Friday according to the stock exchange data PTI SUM MR MR
Mumbai Mar 28 PTI Benchmark stock indices Sensex and Nifty reversed early losses to close higher by 040 per cent on Monday helped by buying in index heavyweight Reliance Industries ICICI Bank and Bharti Airtel amid gains in global equities After falling 53711 points to a low of 5682509 in morning trade the 30-share BSE barometer staged a recovery in afternoon trade and climbed 23129 points or 040 per cent to settle at 5759349 As many as 20 Sensex stocks closed with gains while 10 declined The broader NSE Nifty recovered 69 points or 040 per cent to settle at 17222 with 29 of its constituents ending in green Bharti Airtel rose the most by 34 per cent among Sensex stocks Axis Bank rose by 213 per cent ICICI Bank by 159 per cent and SBI by 144 per cent Reliance Industries rose by nearly 1 per cent helping the barometer recover from losses IndusInd Bank rose by 133 per cent Bajaj Finserve by 109 per cent while Kotak Bank and HDFC Bank also advanced FMCG major ITC jumped 154 per cent while Hindustan Unilever rose by 1 per cent Among losers Nestle fell the most by 183 per cent HDFC by 158 per cent and HCL Tech by 141 per cent Dr Reddy dropped 14 per cent Asian Paints by 064 per cent and Wipro by 059 per cent due to profit booking Shares of multiplex chains PVR and Inox Leisure Ltd spurted after the two companies announced a merger deal to create the countrys largest multiplex chain with over 1500 screens PVR shares rose by 306 per cent to Rs 188350 at close Inox Leisure Ltd hit the upper circuit limit of Rs 56360 before closing at Rs 52290 up by 1133 per cent over the previous close Benchmark indices reversed early morning losses on positive global cues according to S Ranganathan Head of Research at LKP securities Even though the Ukraine war and the consequent crude spike impacted markets initially the war is not impacting markets much now The major headwinds for markets in 2022 will continue to be the high US inflation and Fed tightening said V K Vijayakumar Chief Investment Strategist at Geojit Financial Services In the broader market the BSE smallcap index declined 053 per cent and midcap gauge dipped 040 per cent Markets once again witnessed sideways movement but finally managed to end on a higher note because of sharp gains in banking and oil gas stocks said Shrikant Chouhan Head of Equity Research Retail Kotak Securities Ltd Among BSE sectoral indices oil and gas up 107 per cent bank 101 per cent energy 097 per cent and telecom 073 per cent were the major gainers Mixed global cues combined with a lack of any domestic trigger are causing volatile swings in the index However the rotational buying in select index majors is helping the benchmark to hold at higher levels Ajit Mishra VP – Research Religare Broking Ltd said Equity exchanges in Tokyo and Seoul settled lower while Hong Kong and Shanghai ended higher Stock exchanges in the US also ended on a mixed note on Friday European markets were trading with gains as investors weigh the developments of the war between Russia and Ukraine Meanwhile international oil benchmark Brent crude declined 346 per cent to USD 1163 per barrel Foreign institutional investors FIIs were net sellers in the capital market as they sold shares worth Rs 150737 crore on Friday according to the stock exchange data PTI SUM MR MR
