Sensex Rallies Over 1,000 Points; M&M, Reliance and Bajaj Twins Top Gainers

Wed, 9 Mar 01:30 pm

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Share markets in India have extended early gains and are presently trading on a strong note.

Benchmark indices began today's session in the green despite a mixed trend across global markets and rising oil prices.

Investors tracked news flow on the Russia-Ukraine war closely after the US banned Russian oil imports over Moscow's invasion of Ukraine.

Moreover, investors picked-up beaten down stocks on hopes of de-escalation of Russia-Ukraine conflict after the Ukraine President indicated that the country does not want to pursue NATO membership, the main reason behind the war.

Participants also took cues from US futures, which are firmly higher, a day ahead of February inflation data release.

Presently, the BSE Sensex is trading up by 1,013 points, up 1.9%. Meanwhile, the NSE Nifty is trading up by 275 points.

Broader markets also performing in line with the benchmark indices. The BSE MidCap and BSE SmallCap indices are up 1.9% and 1.8%, respectively.

Among sectors, gains in realty, auto, IT, pharma and oil & gas shares pushed the headline indices higher, though losses in metal shares limited the upside.

Reliance Industries and M&M are among the top gainers today, up 3.8% and 3.7%, respectively.

Shree Cement and ONGC, on the other hand, are among the top losers today.

Among individual stocks, Infosys, Hindustan Unilever, Sun Pharma and Ultratech Cement were among other top performers, up 2% each.

NTPC, Power Grid, Kotak Bank, Tata Steel and Nestle India topped the losers' list.

Banking stocks are keenly eyed. The recent slide in banking stocks has sent Nifty Bank into a bear market for the first time since March 2020. The index has fallen over 20% from the peak on growing concerns that higher energy prices may curtail India's GDP growth.

Investors were keenly awaiting the outcome of UP state elections due tomorrow and were looking forward to the LIC IPO which received market regulators' go ahead.

According to the report, the regulator has issued an observation letter for the same. The approval has come within 22 days of filing.

Shares of airline companies IndiGo and SpiceJet are firm today after the government announced resumption of international flights from 27 March 2022.

The move is expected to boost international capacity and will help soften airfares, which have been soaring due to increased demand and rise in crude oil prices.

Crude oil prices surged further up today following the US decision to impose ban on the import of Russian crude oil and Britain's decision to phase out crude import from Russia by the end of this year.

In his latest video, Brijesh Bhatia explains why IT stocks are rallying even in this volatile market, in his latest video for Fast Profits Daily.

As per Brijesh, IT stocks have the potential to take the Nifty higher.

Tune in to find out more:

More details to follow in the upcoming commentary.

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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Indian Share Market Update: Top Gainers and Losers