Thank you readers! Here are the key highlights from today's session

- Market Gains For 3rd Straight Day; Frontline Indices Rise 2-3%

- BSE Cos Gain Market Cap Of `4 Lk Cr Today & Nearly 10 Lk Cr In 3 Days

- Sensex Records A Move Of Over 1,000 Points For The 4th Time In 2021

- Midcap Index Posts Record Close For 3rd Consecutive Day

- Nifty Gains 327 Points To 15,246 & Sensex 1,148 Points To 51,445

- Nifty Bank Rises 948 Points To 36,368 & Midcap Index 402 Points To 24,488

- Most Sectoral Indices Close Higher While Volatility Index Drops Over 6%

- Metals & Bks Top Gainers With Nifty Metal & PSU Bank Indices Up Over 3% Each

- 43 Nifty Stocks Close In The Green; Tata Steel, Bajaj Finserv, RIL Top Gainers

- Reliance & Bharti Gain Rise As Brokerages See Both Cos Gaining Mkt Shr

- Autos Slip In A Strong Trading Session; Hero, Bajaj Auto & Maruti Top Losers

- MTNL Rises To Upper Circuit & IDBI Bank Over 12% On Govt’s Asset Sale Plans

- New F&O Entrants Like Granules & AU Small Fin Bk Continue To Move Higher

- Market Breadth Favours Advances; Advance-Decline Ratio At 2:1

Mar 3, 2021 3:39 PM

Closing Bell: Sensex ends 1148 points higher, Nifty surges over 2%; financials, metals lead

Indian indices ended over 2 percent higher on Wednesday, extending gains for third straight session, mainly led by a rally in banks, financials and metal stocks. Meanwhile, IT, pharma and FMCG sectors also supported the frontline indices. The sensex ended 1148 points higher at 51,444 while the Nifty rose 326 points to settle at 15,245. Broader markets were also positive for the day with the midcap and smallcap indices up 1.7 percent and 1 percent for the day. On the Nifty50 index, Tata Steel, Bajaj Finserv, RIL, Bajaj Finance and UPL were the top gainers while Hero Moto, Maruti, Bajaj Auto, M&M and BPCL led the losses. All sectors, barring Nifty Auto, also ended in the green for the day. Nifty Metal rose the most, up over 3 percent while Nifty Bank and Nifty Fin Services rose over 2.5 percent each.

Mar 3, 2021 3:33 PM

REC to consider 2nd interim dividend for the financial year FY21 & market borrowing programme for FY211 on March 10

Mar 3, 2021 3:21 PM

Fall in UK economic activity bottoms out in February: PMI

British economic output stabilised in February after a sharp fall the month before, as many businesses continued to suffer from lockdown restrictions affecting hospitality and other face-to-face services, a closely watched survey showed on Wednesday. Hours before finance minister Rishi Sunak is due to set out his economic plans for the coming year, the IHS Markit/CIPS composite Purchasing Managers’ Index gave a reading of 49.6 for February, up from an eight-month low of 41.2 in January.

Mar 3, 2021 3:14 PM

Quote on Rupee from LKP Securities

"Rupee traded strong again on the back of aggressive fund inflows in Indian markets with Vaccination roll-outs for 45 and above people giving confidence to investors in Indian markets to emerge strongly out of Pandemic. With US Bond yields witnessing ease move, after Fridays, extreme movement currencies globally have now come back to zones of last Thursday. Going ahead 72.75-73.25 range can be witnessed"

Mar 3, 2021 3:06 PM

Market gains for 3rd straight day with Nifty rising above 15,100 and Sensex above 51,100.

Mar 3, 2021 2:53 PM

Stocks that hit 52-week high today

IFCI, IIFL Finance, Piramal Ent, IDFC First Bank, L&T Finance, Magma Fincorp, Indusind Bank​, Tata Steel, Adani Ports, Grasim, Tata Motors, Hindalco, JSW Steel, and UPL hit their respective 52-week highs in trade today.

Mar 3, 2021 2:41 PM

Momentumisers: Why is the Tata Power stock surging?

Tata Power has seen a steady 10 percent upmove in the last 10 days, outperforming the benchmarks like NSE 500 for that matter, backed by good volumes. In terms of key support, it's 20-day exponential moving average (EMA) is at Rs 90.8 -- 10 percent from its current market levels that is 100 per share. Remember, this is a 3-year high; Tata Power still hasn’t gone to its fresh life high. So watch out for that. However, the strides it has made in its distribution and renewals business is helping. Also, the deleveraging part has come into play in favour of the company as has been the case for many other power companies in the past. For more details, watch the video

Mar 3, 2021 2:29 PM

Will Dollar-Rupee fly to 74.50 or plunge to 72.50?

Currency markets have recently been taking their cues from the global bond market, where yields have surged in anticipation of accelerated economic recovery. Get latest Currency online at cnbctv18.com

Mar 3, 2021 2:15 PM

Remain bullish on HFCs; continue to hold Happiest Minds, says Deven Choksey

Deven Choksey of KRChoksey Securities believes there is a reason to remain bullish in the housing finance companies (HFCs) space. He thinks the demand for newer houses will pick up. "We are having a cheaper cost of funds. The developments are happening into the economy as a result of which the buyer is coming into the market. I would think that demand for newer houses will gradually pick up. I think it is a good space to be into as far as investment is concerned. I feel safer investing in HFCs than investing money in real estate companies. We will remain bullish. This is a space, which should do wonders in next three-five years,” he said. More here

Mar 3, 2021 2:02 PM

Bank stocks still have juice left; valuations not pricey: Macquarie analyst

Suresh Ganapathy of Macquarie Capital Securities feels that valuations of most banks are not expensive, despite the recent rally in these stocks. “If you were to look at the valuations of these banks relative to historic average, they are still at best around historic averages,” Ganapathy said in an interview to CNBC-TV18. “In some cases like State Bank of India (SBI), they are still below historic averages. Therefore there is still enough upside left in the financial space because I think the next five years is going to be one of the best years for the entire financial sector,” he said. According to him, there is still a lot of room for rerating for financial sector looking at their valuations relative to other sectors. More here

Mar 3, 2021 1:47 PM

Govt is in process of finalising roadmap for core/non-core asset sale, reports

Mar 3, 2021 1:35 PM

Motherson Sumi gains 2%, hits 52-wk high as CRISIL reaffirms credit ratings

Shares of Motherson Sumi Systems, on Wednesday, rose 2.4 percent to hit a fresh 52-week high after rating agency CRISIL reaffirmed the company's ratings. In an exchange filing, the company said that its long-term ratings has been reaffirmed to CRISIL AA+, with 'Stable' outlook from the earlier 'negative'. Short-term ratings has been reaffirmed to CRISIL A1+.

Mar 3, 2021 1:22 PM

RPP Infra surges 9%, hits 52-week high on bagging orders worth Rs 1,000 cr

Shares of RPP Infra Projects erased early losses and jumped 9 percent to hit a fresh 52-week high after the firm said it has bagged four orders worth Rs 1,000 crore. The company, in an exchange filing, on Wednesday announced that it has received four letters of acceptance for four new projects. Among the four orders that the company has won, one is from the Tamil Nadu Water Supply and Drainage Board under the Jal Jeevan Mission worth Rs 131.14 crore. It has bagged another order from the Highways Department as part of the Chennai-Kanyakumari Industrial Corridor Project which involves upgrading two stretches of the road at a total contract price of Rs 558.66 crore.

Mar 3, 2021 1:10 PM

CLSA raises target price of Tata Communications to Rs 1,475

Tata Communications is gaining in trade as the CLSA has increased a target price of the stock to Rs 1,475. The stock has seen significant upside from where it currently is. The CLSA believes that there is a possibility that the company will be able to monetise the land bank it is sitting on. They have given the gross value of the land at Rs 11,800 crore, the net value post the capital gains tax is seen at Rs 9,400 crore which turns out to be Rs 331 per share for Tata Communications. However, they are assigning only 33 percent probability to the possibility that the land can be monetised. Therefore, their target price has gone up by Rs 109. Watch video for more.

Mar 3, 2021 12:54 PM

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