Indian Indices Trade on a Strong Note; Infosys & ICICI Bank Top Gainers

Mon, 2 Mar 12:30 pm

   Previous Close   

   Pre-Open   

   09:30 am   

   Closing   

Editor's note: Dear reader, we are now on Telegram! Get our latest views on stock markets and more, instantly. Join our Telegram channel here!

---

Share markets in India are presently trading on a strong note. Benchmark indices rebounded today after their worst week in over a decade on hopes that major central banks would take steps to stabilize financial markets amid the coronavirus epidemic.

On Friday, US Federal Reserve Chair Jerome Powell had hinted at a fresh interest rate cut at the bank's next meeting on March 17-18.

Earlier today, Bank of Japan Governor Haruhiko Kuroda also said the Japanese central bank would take necessary steps to stabilize markets.

The BSE Sensex is trading up by 663 points, up 1.7%, while the NSE Nifty is trading up by 184 points.

The BSE Mid Cap index is trading up by 1.5%, while the BSE Small Cap index is trading up by 1.7%.

On the sectoral front, gains are largely seen in the IT sector, metal sector, and FMCG sector.

Note that Sensex had logged its second-biggest one-day fall last week on Friday, amid fears that the virus epidemic may turn out to be a bigger threat to the global economy than initially anticipated.

In Friday's podcast, we had shared a special episode from investor hour...

In this emergency episode of the Investor Hour, Rahul Goel talks to Vijay Bhambwani, who he calls India's #1 trader.

Vijay dives deep in this "coronavirus" situation and presents a picture which we believe would be extremely beneficial to any investor or trader.

They talk stocks, commodities, bullion and currency.

For each of these assets, they talk what's around the corner, and how one should position oneself for potential gains.

Whatever you do, don't miss this emergency issue of the Investor Hour!

Listen in here...

Towards the end, Vijay shares a very unique perspective on how to allocate assets. Don't miss that!

In news from the finance sector, shares of Indiabulls Housing Finance climbed over 20% in early trade today after it informed bourses that the Reserve Bank of India's (RBI) affidavit has mentioned no violations of any nature or kind regarding the company.

In a regulatory filing, the company said the RBI submitted its affidavit in the court in the PIL matter, and the RBI affidavit highlighted the details of loans taken by the borrowers mentioned in PIL and the repayment dates of such loans.

The RBI affidavit states that "the Writ Petition is not maintainable either on facts or law as against this Respondent, the Reserve Bank of India, and hence liable to be dismissed as such."

Indiabulls Housing Finance share price is presently trading up by 11%.

Moving on to news from the banking sector, SBI Cards & Payment Services, backed by State Bank of India (SBI) and private equity firm Carlyle Group, has raised Rs 27.7 billion from 74 anchor investors.

Singapore government, Monetary Authority of Singapore, HDFC Mutual Fund, Government Pension Fund Global and Birla Mutual Fund, are among the anchor investors.

As per a regulatory filing, shares have been allotted at the offer's upper price band of Rs 755 apiece.

Among the 74 anchor investors, there are 12 mutual funds who have been allocated 3,66,69,589 shares.

The price band for the share sale, which would be open from March 2 to 5, has been fixed at Rs 750-755 apiece.

Incorporated in 1998, SBI Cards is the second-largest credit card issuer in India, with an 18% market share of the credit cards market in terms of the number of cards outstanding.

SBI holds 76% in SBI Cards and the rest of the stake is held by Carlyle Group.

HDFC Bank has the largest credit cards business in the country with 13.3 million cards issued, while ICICI Bank stood third with 7.9 million credit cards, according to data from the Reserve Bank of India.

SBI Card's total credit card spends grew at a compounded annual growth rate of 54.2% over FY17-FY19 compared with an industry average of 35.6%.

Speaking of the credit card business, a quick look at India's credit card spending is a good indicator of the country's consumption potential.

India's Massive Consumption Megatrend

Here's what Tanushree Banerjee wrote about this in a recent edition of The 5 Minute WrapUp...

• Credit card spending in India has clocked a rapid 32% annual growth rate over the last 5 years. I expect this trend is expected to continue for many years.
  
  India's young demographic and rapid urbanisation will be the driving force of this consumption megatrend.
  
  This is a megatrend worth watching. Stocks of companies that cater to this theme will benefit in the long run.

This is one of the megatrends that will help what Tanushree calls the Rebirth of India.

She has identified the 7 best stocks that will profit from the Rebirth of India. You can read about these top 7 stocks here.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers