Sensex Today Rallies 600 Points | Nifty Above 22,000 | SAIL Jumps 5%, Ujjivan SFB 4%

Thu, 21 Mar 10:30 am

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Asian shares rallied on Thursday, with Japan's Nikkei 225 hitting a record high after the Federal Reserve kept interest rates steady and said it was still considering at least three rate cuts in 2024.

MSCI's broadest index of Asia-Pacific shares outside Japan eked out a gain of 0.2%.

US stocks rallied to records Wednesday after the Federal Reserve indicated it's likely to deliver the cuts to interest rates this year that Wall Street craves, despite some discouragingly high inflation reports.

Here's a table showing how US stocks performed on Wednesday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	149.68	1.76	1.19%	149.76	147.67	155.2	100.28
Apple	178.67	2.59	1.47%	178.67	175.09	199.62	155.98
Meta	505.52	9.28	1.87%	508.2	495.17	523.57	197.9
Tesla	175.66	4.34	2.53%	176.25	170.82	299.29	152.37
Netflix	627.69	6.95	1.12%	629.51	618.34	629.51	293.54
Amazon	178.15	2.25	1.28%	178.53	174.64	180.14	96.29
Microsoft	425.23	3.82	0.91%	425.96	420.66	427.82	269.52
Dow Jones	39512.13	401.37	1.03%	39529.13	38988.65	39529.13	31805.18
Nasdaq	18240.11	207.9	1.15%	18249.12	18003.24	18416.73	12517.87

Source: Equitymaster

At present, the BSE Sensex is trading 600 points higher and NSE Nifty is trading 176 points higher.

Tata Steel, JSW Steel and BPCL are among the top gainers today.

Nestle, Apollo Hospital and Maruti Suzuki on the other hand are among the top losers today.

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

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

Broader markets are trading on positive note. The BSE Midcap index and the BSE Small Cap index is trading 1.4% higher.

Sectoral indices are trading positive, with socks in metal sector, power sector and capital goods witnessing buying.

The rupee is trading at Rs 83.1 against the US dollar.

In commodity markets, gold prices are trading 1.5% higher at Rs 66,720 per 10 grams today.

Meanwhile, silver prices are trading 1.5% higher at Rs 76,460 per 1 kg.

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...

Speaking of stock markets, in 1947 a group of researchers at Bell Labs, a subsidiary of AT&T, invented the transistor, a switch that controls electric current.

Within decade researchers were placing several transistors on a slab of silicon to make a chip.

A thriving industry grew up around California, outsourcing low-value tasks, such as chip assembly, to Asia, where labour was cheaper.

As the market grew, so did interest from America's rivals.

Japanese firms such as Toshiba and Fujitsu managed to take a share of some chip markets.

Decades later China's tech titans reduced the country's dependence on foreign chips.

Now it is India's turn.

Co-head of Research at Equitymaster, Tanushree Banerjee talks about how you could cash in, in her latest video.

Tune in to the below video:

RVNL's Electric Traction System Project Win

Rail Vikas Nigam has emerged as the lowest bidder for an electric traction system project worth Rs 1.7 bn of SER HQ-Electrical/South Eastern Railway.

As per the project, the company will do the design, supply, erection, testing, and commissioning for the upgrade of the electric traction system for the Rajkharsawan-Nayagarh-Bolani section of the Chakradharpur division of South Eastern Railway to meet the 3,000 MT loading target.

Rail Vikas Nigam Limited is an Indian public sector undertaking which works as the construction arm of the Ministry of Railways for project implementation and transportation infrastructure development.

After rallying 75% in January, RVNL Plunges 17% In a month. To know why, check out Why RVNL Share Price is Falling.

NHPC to Mull Debt Raising

NHPC said that its board will meet on 27 March 2024 to consider raising debt during the financial year 2024 and 2025.

A meeting of the board of directors of the company is scheduled to be held on Wednesday, 27 March 2024, to inter alia consider the proposal for raising debt during financial years 2023-24 and 2024-25.

NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 31 December 2023, the Government of India held a 70.9% stake in the company.

The power generation company reported a 26.8% decline in consolidated net profit to Rs 4.9 billion (bn) in Q3 FY24 from Rs 6.7 bn recorded in Q3 FY23. Revenue from operations decreased 20.4% year on year (YoY) to Rs 20.6 bn in the December 2023 quarter.

PB Fintech to Form Payment Aggregator Subsidiary

PolicyBazaar's promoter, PB Fintech, on Wednesday, said its board has approved the incorporation of a wholly-owned subsidiary for payment aggregator business.

The new subsidiary called PB Pay Private Limited would carry on the business of payment aggregator - domestic and/or cross border or both, as may be permitted by the Reserve Bank of India, by facilitating merchants with offline and/or digital payment acceptance infrastructure or both.

The paid-up share capital of the proposed company would be Rs 270 m.

The proposed company on incorporation will apply to RBI for a Payment Aggregator License and conduct the PA business once the RBI licence is received.

On 1 February 2024, Singapore-based sovereign wealth fund Temasek Holdings sold its entire 5.4% stake in PolicyBazaar's parent firm PB Fintech for Rs 24.3 bn through open market transactions.

Temasek Holdings' wholly-owned subsidiary Claymore Investments (Mauritius) Pte Ltd sold the shares of PB Fintech in three tranches on the BSE.

Claymore Investments (Mauritius) Pte offloaded a total of 244,30,015 shares, representing a 5.4% stake in PB Fintech.

The shares were disposed of at an average price of Rs 992.8 apiece, taking the combined deal value to Rs 24.3 bn.

Meanwhile, US-based financial services company Capital Group, through its various affiliates, acquired the shares of PB Fintech in seven tranches.

In January, Japanese conglomerate Softbank's arm Svf Python II (Cayman) divested a 2.5% stake in PB Fintech for Rs 9.1 bn.

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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