Sensex Today Ends 420 Points Higher as IT Stocks Rally | JSW Energy Jumps 11% | Adani Enterprises & Tata Motors Top Gainers

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After opening the day on a positive note, Indian share markets continued their momentum throughout the session and ended higher.

Benchmark indices advanced on Monday aided by a rise in IT stocks following strong economic data from the US, while a rally in Adani group stocks boosted risk appetite.

At the closing bell, the BSE Sensex stood higher by 415 points (up 0.7%).

Meanwhile, the NSE Nifty closed up by 117 points (up 0.7%).

Adani Enterprises, Tata Motors, and ONGC were among the top gainers today.

Britannia, Tata Steel and JSW Steel were among the top losers today.

The SGX Nifty was trading at 17,770, up by 137 points, at the time of writing.

Broader markets ended on a positive note. The BSE Midcap index gained 0.7% and BSE SmallCap index gained 0.9%.

Sectoral indices ended on a mixed note, with stocks in power sector, energy sector, and auto sector witnessing buying.

While stocks in the metal sector and realty sector witnessed selling.

Shares of Procter and Gamble Health, and Triveni Turbine hit their 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should keep you updated with the latest developments...

Asian share markets ended on a mixed note. The Hang Seng ended higher by 0.2% while the Shanghai Composite index fell 0.2%. The Nikkei ended 1.1% higher.

US stock futures are trading on a negative note. Dow futures are trading lower by 0.1% while Nasdaq futures are trading flat.

The rupee is trading at 81.8 against the US$.

Gold prices for the latest contract on MCX are trading higher by 0.3% at Rs 55,900 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading up by 0.4% at Rs 64,627 per kg.

Speaking of stock markets, while growth is important for a company's survival in the long term, it should not be the end all for investors while picking stocks.

A lot of times, investors get blindsided by high growth companies, even though they are barely profitable or in some cases, burning massive piles of cash. So, does that mean an investor must choose between growth and profit?

Not necessarily. Investors can use financial ratios such as ROCE to gauge how efficiently the company is using its capital to generate returns for its shareholders.

For this video, we have done the groundwork and identified 10 fast growing companies with high ROCE.

Why Adani Group Stocks Rallied Today

Today, all Adani group stocks ended on a positive note. Shares of Gautam Adani's conglomerate rallied for the fifth consecutive day after NRI investor Rajiv Jain's Rs 150-billion (bn) bet helped bulls forget Hindenburg allegations.

As a result of today's rally, the market cap of Adani stocks rose about Rs 500 bn today to cross the Rs 9-trillion mark.

Since the release of the Hindenburg report in late January 2023, Adani stocks have lost more than half of their combined market value.

To investigate the issue, the Supreme Court has formed a committee to investigate and also asked Sebi to conclude its ongoing investigation within the next two months.

It remains to be seen how the Adani-Hindenburg saga will continue to affect the Indian share markets.

In the meantime, you could quickly refer to both fundamentals and valuations of Adani group stocks on Equitymaster's Indian stock screener.

Why Mahanagar Gas Share Price Zoomed 8% Today

Share price of Mahanagar Gas rallied today to hit a new 52-week high after the company signed agreement to acquire 100% stake in city gas distributor (CGD) Unison Enviro (UEPL) for Rs 5.3 bn.

The company has signed a Share Purchase Agreement (SPA) with Unison Enviro Private Limited (UEPL) and existing shareholders of UEPL (Ashoka Buildcon Ltd. and an investment fund managed by Morgan Stanley India Infrastructure) to acquire 100% stake in UEPL.

UEPL has been authorised by PNGRB to implement the CGD network in Geographical Areas (GAs) of Ratnagiri, Latur & Osmanabad in the state of Maharashtra, and Chitradurga & Devengere in the state of Karnataka.

Note that Mahanagar Gas has been supplying Natural Gas by way of Compressed Natural Gas (CNG) to vehicles and Piped Natural Gas (PNG) to domestic, commercial, and industrial consumers in Mumbai, Navi Mumbai, Thane, including adjoining areas and Raigad district.

In the past one year, shares of the company have gained 35.4% and in 2023 so far, shares are up 16.8%.

To know more, check out Mahanagar Gas financial factsheet.

Mutual Fund Inflows on the Rise, Cross Rs 1.5 Trillion

Moving on to news from the mutual funds space, Indian mutual funds have kept their faith in Indian equity markets despite multiple headwinds all through fiscal 2022-23 with their net flow in equities crossing Rs 1.5-trillion mark for the second consecutive financial year.

So far in FY23, MFs have pumped in a net Rs 1.53 trillion in equities till 1 March 2023, as compared to Rs 1.72 trillion in FY22.

Since FY15, except in FY21 when they sold a net Rs 1.21 trillion, MFs have been net buyers in equities. In the past nine financial years between FY15 and FY23, they have pumped in a massive Rs 6.90 trillion in the Indian equity market, data shows.

Take a look at the table below to see the recent inflows -

As you're interested in what mutual funds are buying and selling, check out Equitymaster's Indian Stock Screener.

This tool tracks the stocks recently bought by mutual funds along with the stocks recently sold by them.

And to know what's moving the Indian stock markets, 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

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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

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Indian Share Market Update: Top Gainers and Losers