Sensex Today Ends 190 Points Higher | Auto Stocks Shine | Allcargo Logistics Rallies 13%

Fri, 22 Mar Closing

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After opening the day marginally lower, Indian share markets reversed the trend as the session progressed and ended the day higher.

Shrugging off early weakness, equity markets rebounded and held their gains through the day on Friday.

At the closing bell, the BSE Sensex stood higher by 190 points (up 0.3%).

Meanwhile, the NSE Nifty closed higher by 72 points (up 0.3%).

Hero MotoCorp, Maruti Suzuki and UPL were among the top gainers today.

Wipro, Infosys and Tech Mahindra 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 22,148 up by 34 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 0.4% higher and the BSE Small Cap index ended 1% lower.

Sectoral indices are trading mixed, with stocks in telecom sector, auto sector and realty sector witnessing selling pressure. Meanwhile stocks in IT sector and media sector witnessed selling pressure.

Shares of Maruti Suzuki, Bajaj Auto and ABB India 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 83.4 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% lower at Rs 65,929 per 10 grams.

Meanwhile, silver prices are trading 0.5% lower at Rs 74,691 per 1 kg.

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:

Wipro Enterprises' Food Expansion

In news from the IT sector, Wipro Enterprises, the privately held non-IT consumer and food business of Wipro founder Azim Premji, has set its sights on the food sector for future acquisitions, banking on the success of its recent ventures in the industry.

Over the past year, the company has made significant strides in its food business with two notable acquisitions. In December 2022, Wipro Enterprises acquired Nirapara, a renowned spice brand, followed by the acquisition of Brahmins, another established brand from Kerala, in April 2023.

These strategic moves aim to bolster the company's presence in the spices, breakfast, and Ready-to-Cook categories.

There have been several acquisitions in the food sector.

In January, Tata Consumer revealed plans to acquire Capital Foods, which owns Ching's Secret and Smith & Jones brands, for Rs 51 bn. Additionally, the company will purchase Organic India, backed by Fabindia, for an enterprise value of Rs 19 bn, with potential additional payments based on the company's financial performance in FY 2025-26.

Anticipating significant growth potential, Wipro Enterprises aims for double-digit growth of between 15 and 20% in the food business in the fiscal year 2025. Leveraging its robust distribution network, particularly in the southern region, the company seeks to expedite penetration into both general and modern trade channels, a capability lacking in the acquired companies.

Despite challenges in other sectors, such as slower growth in rural areas and stagnant pricing in the consumer segment, Wipro Enterprises has experienced notable growth in its industrial automation business.

Prestige Estates Project zooms 5%

Moving on to the news from the real estate sector, the share price of Prestige Estates Projects rallied more than 5% in early trade on 22 March after the company acquired 62.5 acres of land in Indirapuram Extension, NCR.

The acquired land will be developed primarily as residential and will be branded under the Prestige City format.

The cost of acquisition amounts to Rs 4.7 bn, along with a revenue share.

Earlier this month, the company announced the launch of a luxury residential project, Prestige Somerville, in Whitefield, Bangalore, spread over 6.5 acres with a revenue potential of Rs 8 bn.

Enfuse Solution Makes a Positive Debut

Moving on, digital solutions provider Enfuse Solutions made a strong debut on the NSE SME platform on 22 March, listing at Rs 115, claiming a 19.8% premium over the issue price of Rs 96 per share.

The public issue of Enfuse Solutions received an overwhelming response from investors with over 357 times booking at close.

The grey market premium hovered around 40%, indicating a potential listing of around Rs 136 apiece.

The IPO of Enfuse Solutions was subscribed 248.42x in the retail category, 99.97x in the qualified institutional buyer (QIB) category, and 953.22x in the non-institutional investor (NII) category.

The Rs 224.4 m IPO of Enfuse Solutions was entirely a fresh equity sale of 23.38 lakh shares. It plans to utilise the net issue proceeds to finance capital expenditure, general corporate purposes, and issue expenses.

Enfuse Solutions provides integrated digital solutions in the areas of data management and analytics, e-commerce and digital services, machine learning and artificial intelligence, education, and technology solutions.

For more information on IPOs, check out the list of upcoming IPOs.

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

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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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