Informist, Friday, Mar 31, 2023
By Anshul Choudhary
MUMBAI – Benchmark indices closed at its highest levels in three weeks, led by gains in Reliance Industries, and information technology companies. This was the least volatile session of the week for the indices, which rose gradually during the session.
“This rise is because of pending relief rally after correction seen in past few weeks,” said Ganesh Angaj, technical head at NVS Brokerage. He added that even in the bearish market the indices did not see steep losses and largely stayed range-bound and that aided the positive sentiment among investors.
Today, the Nifty 50 gained 279 points, or 1.6%, and closed at 17359.75 points, whereas, Sensex gained over 1000 points, or 1.8%, and closed at 58991.52 points.
Shares of index-heavyweight Reliance Industries surged over 4% today after the company started the process to demerge its financial services business. It will hold a meeting on May 2 to approve the proposed scheme of arrangement between Reliance Industries and Reliance Strategic Investments.
The company also announced on Wednesday that it has infused 15 bln rupees into Sintex Industries after a successful resolution plan of the fabric maker.
The gains in Reliance Industries also improved the sentiment around other energy sector stocks. Shares of Bharat Petroleum Corp closed 1.3% higher, while those of Oil and Natural Gas Corp rose 1.1%. Due to this, the Nifty Energy index was one of the top sectoral performer and closed nearly 2% higher.
IT stocks were the major gainers today. A part of the reason for IT stocks doing well today was the strong rise in shares of their US peers. The technology-heavy Nasdaq Composite index rose for the second consecutive session on Thursday.
Among IT stocks, shares of Infosys closed 3.2% higher, those of Tata Consultancy Services closed 2.1% higher, and those of Tech Mahindra rose 1.9%. Owing to this, the Nifty IT index was the top gainer among sectoral indices and closed 2.5% higher.
Automobile companies also posted gains ahead of the release of monthly vehicle sales data for March, to be released by companies on Saturday. Shares of Tata Motors rose 2.8%, while those of Hero MotoCorp rose 1.9%.
Shares of GR Infraprojects closed 3.3% higher on multiple order wins that included several highway projects.
Shares of Bharat Electronics closed 6.6% higher as the company signed multiple contracts aggregating to 81.94 bln rupees with the defence ministry.
Shares of Shriram Properties closed 9.8% higher after the company witnessed a block deal on the NSE. Around 24.3 mln shares of the company, representing 14.1% of the company’s equity, changed hands in the pre-opening session today at a price of 55 rupees per share.
* Among Nifty 50 stocks, 42 rose, 8 fell
* Among Sensex stocks, 26 rose, 4 fell
* On the BSE, 2,393 stocks rose, 1,165 fell, and 120 unchanged
* On the NSE, 1,616 stocks rose, 700 fell, and 433 unchanged
* Nifty IT: Up 2.45%; Nifty Energy: Up 1.97%; Nifty Bank: Up 1.75%
BSE NSE
Sensex: 58991.52, up 1031.43 pts or 1.78% Nifty 50: 17359.75, up 279.05 pts or 1.63%
S&P BSE Sensitive Index Nifty 50
Lifetime High: 63583.07 (Dec 1, 2022) : Lifetime High: 18887.60 (Dec 1, 2022)
Record Close High: 63284.19 (Dec 1, 2022) : Record Close High: 18812.50 (Dec 1, 2022)
2023 1st day close: 61167.79 (Jan 2) : 2023 1st day close: 18197.45 (Jan 2)
2023 Closing High: 61167.79 (Jan 2) : 2023 Closing High: 18197.45 (Jan 2)
2023 Closing Low: 59288.35(Feb 27) : 2023 Closing Low: 17311.80 (Oct 17)
2023 High (intraday): 61222.79 (Jan 2) : 2023 High (intraday): 18215.15 (Jan 2)
2023 Low (intraday): 58699.20 (Jan 30) : 2023 Low (intraday): 17098.55 (Oct 17)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 63284.19 (Dec 1) : 2022 Closing High: 18812.50 (Dec 1)
2022 Closing Low: 51360.42 (Jun 17) : 2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 63583.07 (Dec 1) : 2022 High (intraday): 18887.60 (Dec 1)
2022 Low (intraday): 50921.22 (Jun 17) : 2022 Low (intraday): 15183.40 (Jun 17)
2021 Closing High: 61305.95 (Oct 14) : 2021 Closing High: 18338.55 (Oct 14)
2021 Closing Low: 46285.77 (Jan 29) : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 61353.25 (Oct 14) : 2021 High (intraday): 18350.75 (Oct 14)
2021 Low (intraday): 46160.46 (Jan 29) : 2021 Low (intraday): 13596.75 (Jan 29)-
2020 Closing High: 47751.33 (Dec 31) : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23) : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31) : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24) : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20) : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19) : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28)) : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23) : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26) : 2017 High(intraday): 10515.10 (Dec 26)
End
Edited by Maheswaran Parameswaran
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