Share/Stock Market Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) surged nearly 2 per cent on Wednesday aided by banking, financial, metal and automobile stocks which helped the markets rebound amid strong global cues which rose as investors closely watched the US Federal Reserve for projections on its path of rate hikes this year.
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The S&P BSE Sensex climbed 1,039.80 points (1.86 per cent) to settle at 56,816.65 while the Nifty 50 gained 312.35 points (1.87 per cent) to end at 16,975.35. Both the indices had opened with over 1 per cent gains earlier in the day and surged higher as the trade progressed with the BSE benchmark hitting an intraday high of 56,860.89 and the Nifty touching 16,987.90.
On the Sensex pack, Ultratech Cement was the top gainer of the day rising 4.7 per cent. It was followed by Axis Bank, IndusInd Bank, Housing Development Finance Corporation (HDFC), Infosys, Bajaj Finance, Bajaj Finserv, Tata Steel and Tech Mahindra. On the other hand, Sun Pharmaceutical Industries and Power Grid Corporation of India were the only two stocks that registered a dip.
(with inputs from agencies) Read less
The topline equity indices on the BSE and National Stock Exchange (NSE) snapped out of a five-session winning streak and ended over 1.2 per cent lower on Tuesday weighed by metals and information technology (IT) stocks amid weakness in the global market.
The S&P BSE Sensex crashed 709.17 points (1.26 per cent) to end at 55,776.85 while the Nifty 50 tumbled 208.30 points (1.23 per cent) to settle at 16,663.00.
The rupee spurted by 42 paise to a nearly two-week high of 76.20 against the US dollar on Wednesday, tracking positive domestic equities and Asian currencies ahead of the US Federal rate hike decision.
At the interbank forex market, the local unit opened at 76.40 against the greenback and witnessed an intra-day high of 76.19 and a low of 76.44. The rupee quoted at 76.20, registering a rise of 42 paise over its previous close of 76.62.
(PTI)
"Ease in FII selling & crude prices is adding strength to the domestic trend. Positive global cues & strong bounce back by the Chinese market in anticipation of stimulus supported the trend. The world equity market has stabilized factoring in a 25 bps hike in US FED, an in-line policy outlook, will be a relief to the market and we may see a drop in volatility"
The S&P BSE Sensex ended at 56,816.65, up 1,039.80 points or 1.86 per cent, while the Nifty 50 settled at 16,975.35, up 312.35 points or 1.87 per cent.
Jet fuel prices on Wednesday were hiked by over 18 per cent – the steepest ever increase – to all-time high levels after international oil price surged to a multi-year high.
The increase – sixth straight this year – led to prices soaring past the Rs 1-lakh-per-kilolitre mark for the first time ever. CLICK HERE to read
Shares of One 97 Communications, the parent company of payments platform Paytm, climbed over 6.5 per cent higher in the late morning trade on Wednesday after registering a steep fall in the previous two sessions.
The stock climbed 6.53 per cent to Rs 631.15 apiece on the National Stock Exchange (NSE) while on the BSE, it rose 6.51 per cent to Rs 630.95. It had briefly touched a fresh all-time low of Rs 572.25 on BSE and Rs 572.00 on NSE earlier in the session. CLICK HERE to read
The rupee appreciated 30 paise to 76.32 against the US dollar in opening trade on Wednesday, tracking positive domestic equities and a pullback in crude oil prices.
At the interbank foreign exchange, the rupee opened at 76.40 against the American dollar, then gained further ground to quote 76.32, registering a rise of 30 paise from the last close. In the previous session, the rupee had settled at 76.62 against the greenback.
(PTI)
Petrol and diesel prices remained unchanged across the country on Wednesday, March 16, 2022.
Petrol price in Delhi stands at Rs 95.41 per litre while that of diesel is at Rs 86.67. In Mumbai, petrol currently costs Rs 109.98, while diesel is retailing at Rs 94.14, data available on Indian Oil Corporation’s website showed. CLICK HERE to read
Asian shares rose Wednesday as investors awaited a widely anticipated decision by the U.S. Federal Reserve on interest rate policy.
Japan's benchmark Nikkei 225 jumped 1.7% in morning trading to 25,784.71. Australia's S&P/ASX 200 added 0.9% to 7,160.00. South Korea's Kospi gained 0.8% to 2,641.23. Hong Kong's Hang Seng rose 2.1% to 18,807.58. while the Shanghai Composite shed 0.4% to 3,050.59.
At a policy meeting later Wednesday, the Fed is expected to increase its key short-term rate by 0.25 percentage points. That would be the first increase since 2018, pulling it off its record low of nearly zero, and likely the start to a series of hikes.
(AP)
At 9:16 am, the S&P BSE Sensex was trading at 56,596.21, up 819.36 points (1.47 per cent) while the Nifty 50 was trading 237.20 points (1.42 per cent) higher at 16,900.20.