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Sensex, Nifty end flat post range-bound day; Smallcaps shine; banks weigh

Stock market highlights on March 7, 2024: Among top large-cap gainers, Tata Steel, JSW Steel, Bajaj Finserv, Tata Motors, Bajaj Finance, ITC, Asian Paints, Neslte India, and TCS gained over 1%

Image SI Reporter New Delhi
BSE, NSE, Sensex, Nifty, stock markets

Closing Bell on Thursday, March 7: Benchmark indices moved in a narrow range around th flat line on Thursday, while the broader indices held their gains through the day.

The S&P BSE Sensex, thus, ended at 74,119, up 33 points or 0.05 per cent, while the Nifty50 shut shop at 22,493, up 20 points or 0.09 per cent. In the broader markets, the BSE MidCap and SmallCap indices closed up to 0.7 per cent higher. 

Among top large-cap gainers, Tata Steel, JSW Steel, Bajaj Finserv, tata Motors, Bajaj Finance, ITC, Asian Paints, Neslte India, and TCS gained over 1 per cent.

Among sectors, the Nifty Media index rallied over 2 per cent, and the Nifty Metal index 1.4 per cent. On the downside, the Nifty Bank fell 0.3 per cent dragged by private banks. 

Note: Markets are closed on Friday on account of Mahashivratri

4:06 PM

COMMENT:: Markets cheer faster-than-expected economic growth

"Equity benchmark indices edged higher after hitting a record high amid a firm trend in the US market and FII inflows. Moreover, faster than expected economic growth for the current fiscal year boosted sentiments for metal and capital goods stocks. Meanwhile, global indices exhibited mixed sentiments, driven by the Fed’s signals of hope for a potential rate cut this year. Further clarity on the labour market, anticipated with the release of non-farm payroll data on Friday, will offer insights into potential rate adjustments."
- Vinod Nair, Head of Research at Geojit Financial Services
4:04 PM

VIEW:: Nifty remains in buy on dips mode; may target 22,700 on the upside

"The Nifty stayed below the psychological 22,500 mark, with call writers at the 22,500 strikes significantly increasing their positions. On the downside, support is expected to hold at 22,400. The buy-on-dips strategy is likely to persist as long as it remains above 22,400. On the upside, a decisive move above 22,500 could trigger buying interest in the market, potentially pushing the index towards 22,700 in the short term."
- Rupak De, Senior Technical Analyst at LKP Securities
4:03 PM

VIEW:: Bank Nifty to turn bullish on close above 48,200

"Today, Bank Nifty faced resistance at the 48,000 level, finding support at 47,750. Nevertheless, the weekly closure indicates a resilient bullish momentum, with pivotal support identified at 47,500 and resistance at 48,200. A conclusive breach above the 48,200 threshold, confirmed by a closing basis, could catalyze a bullish upswing towards levels of 48,500 and 48,800."
- Kunal Shah, Senior Technical Analyst at LKP Securities
4:01 PM

Market breadth was positive; 285 stocks hit upper limit, 314 lower on BSE


3:59 PM

BSE Smallcap Heatmap:: Rallis, Tata Chem zoom over 11%; IIFL Finance gains 10%


3:55 PM

BSE Midcap Heatmap:: Solar Inds, Zee jump 4%; Rajesh Exports slips over 3%


3:48 PM

Broader Market Check:: SmallCap index bounces back; VIX dips 5%


3:41 PM

Nifty50 Top 5 Movers & Shakers:: Tata Consumer, Tata Steel shine; M&M dips 4%


3:38 PM

Sensex 30 Heatmap:: 20 Gainers v/s 10 Losers


3:36 PM

CLOSING BELL:: NSE Nifty50 settles 20 pts higher at 22,494


3:35 PM

CLOSING BELL:: S&P BSE Sensex ends marginally up by 33 pts at 74,119


3:22 PM

ALERT:: US, UK stock futures marginally in red


3:12 PM

ALERT:: Dredging Corporation inks MoU with BEML; stock hits 5% upper limit

As per a release issued by Dredging Corporation of India, the compnay & BEML haved signed MOU for Indigenous Design, Development & Manufacturing of spares for Dredgers & Joint Development of manufacturing of Dredgers. 
The purpose of this MOU for both the organizations is to recognise indigenisation as one of the strategic tools to achieve cost benefits and also complement their strengths to build a mutually beneficial strong technical base. Dredging would prefer to procure a substantial part of hydraulic aggregates, casting & fabrication items for their dredgers, enabling improved availability of dredgers, attain cost effectiveness and improve competitiveness in the Indian and global market.


2:59 PM

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2:46 PM

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First Published: Mar 07 2024 | 7:29 AM IST

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