Sensex Today Ends 335 Points Higher | IT Stocks Drag | Apollo Tyres & HPCL Tank 6%

Fri, 15 Mar Closing

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After opening the day marginally lower, Indian share markets extended the downtrend as the session progressed and ended the day lower.

Bears were on the prowl on Friday as uncertainty over the timing in Fed rate cut resurfaced following hotter-than-expected wholesale inflation data in the US.

At the closing bell, the BSE Sensex stood down by 453 points (down 0.6%).

Meanwhile, the NSE Nifty closed lower by 150 points (down 0.7%).

Bharti Airtel, UPL and Bajaj Finance were among the top gainers today.

BPCL, M&M and Coal India 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 22,121 down by 142 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 mixed. The BSE Mid Cap ended 0.5% lower and the BSE Small Cap index ended 0.3% higher.

Barring telecom sector and FMCG sector all other sectoral indices are trading negative, with stocks in auto sector, oil & gas sector and energy sector witnessing selling pressure.

Shares of Colgate and Hitachi Energy 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 82.8 against the US$.

Gold prices for the latest contract on MCX are trading 0.5% higher at Rs 65,888 per 10 grams.

Meanwhile, silver prices are trading 0.7% higher at Rs 75,720 per 1 kg.

Speaking of stock markets, does back of the envelope calculation work in a field like investing as well? Or is it a field where one is required to apply scientific rigor and precision?

Well, if you look at all the great investors like Ben Graham, Warren Buffett, and Peter Lynch, I don't think any of them applied complex mathematical formulae to evaluate their investments.

Co-head of Research at Equitymaster, Rahul Shah show how you can use a simple back-of-the-envelope calculation to decide whether a stock can be considered for investment or whether it should be rejected, in his latest video.

Tune in to the below video:

Why Olectra Greentech Share is Falling

In news form the auto sector, EV busmaker Olectra Greentech's shares fell 5% on 15 March after it Election Commission documents revealed that its holding company, Megha Engineering & Infrastructures (MEIL), was the second highest purchaser of electoral bonds.

The Election Commission put up on its website the data on electoral bonds on 14 March, a day ahead of the Supreme Court-fixed deadline. MEIL bought electoral bonds worth Rs 9.7 bn.

Hyderabad based MEIL purchased electoral bonds worth Rs 1.4 bn in April, 2023 and next month the same company bagged Rs 144 bnworth twin tunnel from Thane to Borivali project by beating L&T in a bid floated by Maharashtra government's nodal agency MMRDA.

If we compare the performance of JBM Auto and Olectra Greentech on the stock market, Olectra Greentech is leading with gains of 447.2% in the last year, as against JBM Auto, which gave a 295% return.

For more details, check out Best EV Stock: Olectra Greentech vs JBM Auto.

Aurobindo Pharma Drags 2%. Here's Why.

Moving on to news from the pharma sector, the US Food and Drug Administration has raised procedural and cleanliness issues in Aurobindo Pharma subsidiary Eugia Pharma SEZ unit in Telangana.

Aurobindo Pharma subsidiary's Telangana plant was slapped with seven observations in its Form 483 after inspection of the unit during 19 to 29 February. The US drug regulator noted that procedures to prevent contamination were not followed, and written records were not maintained, leading to unexplained discrepancy.

The US FDA also found that equipment were not suitably located to facilitate operations. It added that employees engaged in manufacturing and processing the drug product lack training. The plant did not have procedures to validate performance of manufacturing process and drugs.

On 29 February, the company had restarted production in its terminally sterilised product lines at its Unit-III that was temporarily stopped to address some of the observations of the US FDA in their recent inspection.

L&T Technology Bags Cybersecurity Contract

Moving on to news form the IT sector, shares of Larsen and Toubro Technology Services advanced over 2% to Rs 5,385 on 15 March after the company won a Rs 800-crore order to provide advanced cyber security solutions for the state, enhancing public safety in Maharashtra.

The project involves creating an advanced cybersecurity system and setting up a cybersecurity and cybercrime prevention centre. It will use artificial intelligence and digital forensic tools to ward off cyber threats and resolve cyber attacks.

This deal will set the stage for LTTS to scale its offerings for our global clientele.

poration Rallies 7% today

Moving on to news form the railway sector, shares of RailTel surged up to 7% on 15 March, a day after the company declared that it had received a Rs 1.1 bn work order from Odisha Computer Application Centre (OCAC).

The order is for setting up IP-MPLS network connectivity in Odisha under OdishaNet Phase 1.0. The project needs to be executed by September 2025.

RailTel Corporation is a Mini Ratna (Category-I) PSU and is one of the largest neutral telecom infrastructure providers in the country, owning a pan-India optic fibre network on exclusive right of way (ROW) along railway track. The company's segments include telecom services and project work services.

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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