Informist, Wednesday, Mar 9, 2022
By Vivek Kumar
MUMBAI – Domestic equities rose further today as investors continued to pick quality stocks after the recent sell-off in the market on hopes of de-escalation of tensions between Russia and Ukraine.
The Nifty 50 ended 2.1% higher at 16345.35 points, and the Sensex ended 2.3% higher at 54647.33 points. The 50-stock index had even topped 16400 points intraday.
After two weeks into the Ukraine invasion and several rounds of talks being unsuccessful, Russia's foreign ministry spokesperson reportedly said it will achieve its goal of ensuring Ukraine's neutral status and would prefer to do so via talks.
Earlier, Ukraine President Volodymyr Zelenskyy had said he was no longer interested in joining North Atlantic Treaty Organization, which was one of the key issues because of which Russia announced special military operations in Ukraine. Further, the foreign ministers of Russia and Ukraine are also scheduled to meet in Turkey on Thursday.
These developments are likely to have led to hopes of de-escalation of tensions and triggered sharp gains in equities. While Asian markets ended mixed today, major European markets were up 1-5%.
Back home, banks, information technology and automobile companies benefited the most from bargain buying, while several other heavyweight stocks too gained.
Though the ongoing crude and commodities shock in the wake of the Russia-Ukraine conflict is likely to have negative implications for India’s macroeconomic situation, aggregate Nifty 50 profits are likely to be fairly resilient amid support from metals, oil and gas, information technology and banking pack, said Emkay Global Financial Services.
Among top gainers were UltraTech Cement, Maruti Suzuki India, HDFC Bank, Tata Motors, Adani Ports and Special Economic Zone, Reliance Industries and Asian Paints, which rose 3-6%.
The sectoral indices of information technology, pharma, fast-moving consumer goods and automobile rose 1-3%. The Nifty Bank index also gained 2% to close at 33815.45 points.
The levels to watch out for the Nifty Bank index on an immediate basis are 34200-34400 points, said Ashish Chaturmohta, director - equity research at Sanctum Wealth. The sectoral index has to surpass 36000 points mark for some more strength to emerge, he added.
Among other stocks, shares of aviation, hotel and travel services companies rose today as the government said regular international flights will resume from Mar 27, two years after they were suspended due to the outbreak of COVID-19.
Some companies in the energy and metals sector, that had risen sharply in the last few sessions, were among the few laggards today due to profit booking. Tata Steel, Coal India, NTPC, Power Grid Corp of India and Oil and Natural Gas Corp fell 1-3%.
The recovery was stronger in the broader market as the mid-cap and small-cap indices on National Stock Exchange rose 2-3%.
* Among Nifty 50 stocks, 37 rose and 13 fell
* Among Sensex stocks, 25 rose and 5 fell
* On the NSE, 1,717 stocks rose, 358 fell and 48 were unchanged
* On the BSE, 2,657 stocks rose, 684 fell and 94 were unchanged
* Nifty Realty: Up 3.1%; Nifty Pharma: Up 1.7%; Nifty Metal: Down 0.4%
BSE National Stock Exchange
Sensex: 54647.33 points, up 1223.24 pts (2.3%) Nifty 50: 16345.35, up 331.90 pts (2.1%)
S&P BSE Sensitive Index Nifty 50
Lifetime High: 62245.43 (Oct 19) : Lifetime High: 18604.45 (Oct 19)
Record Close High: 61765.59 (Oct 18) : Record Close High: 18477.05 (Oct 18)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 61308.91 (Jan 17) : 2022 Closing High: 18308.10 (Jan 17)
2022 Closing Low: 52842.75 (Mar 7) : 2022 Closing Low: 15863.15 (Mar 7)
2022 High (intraday): 61385.48 (Jan 17) : 2022 High (intraday): 18321.55 (Jan 17)
2022 Low (intraday): 52260.82 (Mar 8) : 2022 Low (intraday): 15671.45 (Mar 8)
2021 Closing High: 61305.95 (Oct 14) : 2021 Closing High: 18338.55 (Oct 14)
2021 Closing Low: 46285.77 (Jan 29) : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 61353.25 (Oct 14) : 2021 High (intraday): 18350.75 (Oct 14)
2021 Low (intraday): 46160.46 (Jan 29) : 2021 Low (intraday): 13596.75 (Jan 29)
2020 Closing High: 47751.33 (Dec 31) : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23) : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31) : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24) : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20) : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19) : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28)) : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23) : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26) : 2017 High(intraday): 10515.10 (Dec 26)
End
US$1 = 76.56 rupees
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Maheswaran Parameswaran
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