Indian Share Markets End Marginally Higher; Sun Pharma, Cipla & ITC Top Gainers

Fri, 11 Mar Closing

   Previous Close   

   Pre-Open   

   SGX Nifty   

   10:30 am   

Indian share markets witnessed volatile trading activity throughout the day today and ended marginally higher.

Benchmark indices bucked the weak Asian trend and rose today as the Assembly elections' euphoria extended into a second day.

However, developments around the Ukrainian war, commodity prices, and the US inflation data kept the markets volatile through the day.

The Sensex hit a high of 55,834 in early deals but eased off to end at 55,550.

At the closing bell, the BSE Sensex stood higher by 86 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 36 points (up 0.2%).

Cipla and Sun Pharma were among the top gainers today.

Nestle India and Maruti Suzuki, on the other hand, were among the top losers today.

The SGX Nifty was trading at 16,634, up by 64 points, at the time of writing.

The BSE MidCap index and the BSE SmallCap index ended up by 0.4% and 0.8%, respectively.

Sectoral indices ended on a positive note with stocks in the healthcare sector, oil & gas sector and consumer durables sector witnessing most of the buying interest.

Auto stocks, on the other hand, witnessed selling pressure.

Shares of Cipla and Balrampur Chini hit their respective 52-week highs today.

Asian stock markets ended on a mixed note today.

The Hang Seng ended down by 1.6%, while the Shanghai Composite ended up by 0.4%. The Nikkei ended down by 2.1% in today's session.

US stock futures are trading on a positive note today with the Dow Futures trading up by 104 points.

The rupee is trading at 76.59 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.3% at Rs 53,056 per 10 grams.

Speaking of stock markets, India's #1 trader Vijay Bhambwani explains why he is very bullish on silver, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

In news from the engineering sector, BGR Energy Systems was among the top buzzing stocks today.

BGR Energy Systems was locked in 10% upper circuit at Rs 84.5 after the Madras High Court reinstated the order worth Rs 44.4 bn awarded to the company by Tamil Nadu Generation and Distribution Corporation (TANGEDCO).

In April 2021, TANGEDCO had canceled the letter of intent (LoI) regarding the award of contract to BGR Energy Systems for the execution of the 1X660 MW Supercritical Ennore Thermal Power Station (ETPS) expansion project.

The company had moved the High Court of Madras challenging the said cancellation.

The company has received an amendment to the LOI on 9 March 2022 issued by TANGEDCO for reinstatement of contract for 1X660 MW Supercritical ETPS expansion project.

The value of the contract of Rs 44.4 bn remains unchanged and the 'zero-date' for commencement of the contract is revised to 9 March 2022.

BGR Energy Systems operates in the utility industry, offering services ranging from product manufacturing to project execution. The company operates in two segments: capital goods and construction and engineering procurement construction contracts.

BGR Energy Systems share price ended the day up by 10% on the BSE.

Speaking of the current stock market scenario, note that the BSE smallcap index has surged more than 200% since the crash in March 2020.

Despite the index being up more than two times, Richa Agarwal, lead Smallcap Analyst at Equitymaster, believes smallcap stocks are set for a massive up move in 2022 and beyond.

Here's why...

The Smallcap to Sensex ratio, a metric referred to get a sense of relative valuations, currently stands at 0.48 times. To be sure, this is higher than a median of 0.43 times.

And yet, it's the lowest of all the peaks in the smallcaps so far. In the last cycle which peaked in January 2018, when the ratio touched 0.49, the peak was still 9 months away.

INCLUDEPICTURE "https://www.eqimg.com/profit-hunter/images/2021/07062021-chart1-equitymaster.gif" \* MERGEFORMATINET

Here's what Richa wrote in one of the editions of Profit Hunter...

When it comes to buying smallcap stocks, especially at this point in the rebound rally, you will need a bottom up approach, and a long term horizon.

In fact, if you don't have the stomach to withstand a 20%-30% kind of corrections and volatility, this space may not be for you at all. And you should stop reading right here.

As per Richa, smallcaps are a great opportunity to make some big returns. But you need to stay disciplined when it comes to allocating money. And you need to be sharp when picking the right stocks.

Moving on to news from the banking sector...

ICICI Bank to Acquire 5% Stake in NARCL

ICICI Bank today announced that the private lender has signed an agreement on 10 March 2022 for investment in National Asset Reconstruction Company (NARCL). NARCL is an asset reconstruction company, which was incorporated on 7 July 2021.

The bank will acquire up to 5% equity holding in NARCL with total cash consideration of up to Rs 1.4 bn in tranches.

Equity investment would be in tranches with first tranche of equity investment of Rs 704.5 m expected to be completed by 31 March 2022, ICICI Bank announced in an exchange filing today.

Finance Minister Nirmala Sitharaman had in her Budget 2021 speech announced the creation of NARCL or bad bank to resolve large cases of stress.

NARCL has been set up by banks to aggregate and consolidate stressed assets for their subsequent resolution. Public sector banks (PSBs) will maintain about 51% ownership in NARCL.

A bad bank is a corporate entity that alienates illiquid and risky assets held by banks and financial institutions or a group of banks.

It is created to help banks clean their balance sheets by transferring their bad loans so that the banks can focus on their core business of taking deposits and lending money.

In January this year, India's proposed bad bank received all regulatory approvals, and lenders plan to transfer at least Rs 500 bn of toxic assets to it by 31 March 2022, State Bank of India (SBI) chairman Dinesh Khara had said.

ICICI Bank share price ended the day up by 0.2% on the BSE.

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