Sensex Today Ends 409 Points Higher, Crosses 74,000 Mark | Nifty Hits Record High | Tata Chemicals Zooms 11%

Wed, 6 Mar Closing

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After opening the day lower, Indian share markets turned positive as the session progressed and ended the day higher.

Equity benchmark indices rebounded smartly and scaled fresh life-time highs in intra-day deals on Wednesday led by strong gains in private banking shares.

At the closing bell, the BSE Sensex stood higher by 409 points (up 0.6%).

Meanwhile, the NSE Nifty closed higher by 126 points (up 0.6%).

Bajaj Auto, Axis Bank and M&M were among the top gainers today.

Adani Enterprises, NTPC and ONG on the other hand, were among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

The GIFT Nifty ended at 22,609 up by 170 points.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets ended the day lower. The BSE Mid Cap ended 0.6% lower and the BSE Small Cap index ended 1.9% lower.

Sectoral indices are trading positive, with socks in FMCG sector, Media sector and consumer durables sector witnessing buying. Meanwhile stocks in power sector and realty sector witnessed selling pressure.

Shares of Bosch, TVS Motors and Sun Pharma hit their respective 52-week highs today.

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

The rupee is trading at 82.84 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% lower at Rs 64,725 per 10 grams.

Meanwhile, silver prices are trading flat at Rs 73,361 per 1 kg.

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Why Suzlon Energy Shares Hit Lower Circuit

In news from the energy sector, Suzlon Energy hits a lower circuit, extending the losses for the fifth straight day.

This decline was propelled by reports indicating that the Ministry of New and Renewable Energy (MNRE) is considering reintroducing "reverse auctions" for the auctioning of wind power capacity to energy firms.

According to reports, the ministry has issued a directive to companies such as NTPC, NHPC, SJVN, and other Public Sector Undertakings (PSUs) through a formal letter. The directive cites reasons including undersubscription and elevated tariff discovery observed in recent wind bids.

As per the report, the MNRE has reinstated the earlier approach of reverse auctions, limited the size to 600 MW for plain vanilla wind tenders and mandated the issue of bids on a pan-India basis by renewable energy implementing agencies.

NTPC, NHPC, and SJVN are Renewable Energy Implementing Agencies for developers like Suzlon and Inox Wind with state agencies.

This is concerning street as tariffs coming down would impact returns for developers like ReNew and NTPC and may also lead to margin pressure for equipment suppliers.

The BSE and NSE have implemented the long-term Additional Surveillance Measure (ASM) framework for Suzlon's securities. Such measures are applied by exchanges like BSE and NSE to alert investors to significant volatility in share prices, whether on a short-term or long-term basis.

Ajmera Realty shares fall 4%

Moving on to news from the realty sector, Ajmera Realty shares fell 4% in trade on March 6 after the real estate major bagged credit facilities of Rs 5 bn.

A sum of Rs 2 bn has been used towards the partial prepayment of the GCP loan availed from HDFC Bank.

The Ajmera Manhattan project sold 60% of its inventory as of December 2023.

The demand for the project remains strong, driven by the exponential growth in housing demand along the Sewri-Wadala belt, largely attributed to the recent launch of the Mumbai Trans-Harbour Link.

The cost of completion is already covered by the pre-sales balance receivables.

Ajmera Realty also secured this deal at a lower cost of funds compared to prevailing rates with the existing lender.

Marico Shares fall 2%

Moving on to the news from the FMCG sector, shares of FMCG player Marico fell over 2% on 6 March as the stock traded ex-dividend. Marico had announced an interim dividend of Rs 6.5 a share for FY24 in February and fixed 6 March as the record date for the dividend, which will be paid on or before 28 March.

The ex-dividend date determines which shareholders are eligible for the payout on that date. It is the day when the stock of the company goes ex-dividend, meaning the stock from that day does not carry the value associated with its next dividend payment.

For the quarter ended December 2023, Marico reported a consolidated net profit of Rs 3.9 bn, a growth of 16% on-year. Revenue stood at Rs 24.2 bn, down 2% from Rs 24.7 bn in the year-ago quarter.

Marico anticipates a positive turn in consolidated revenue growth in the last quarter of the year, benefiting from a catching-up base. Gross margin is projected to expand by 4.5-5% points for the full year, surpassing previous expectations on favourable input costs and portfolio mix.

Aggressive investments in brand-building for both core and new franchises are going to bolster equity and stimulate growth.

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!

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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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