Tata Steel, Bajaj Auto, Tata Consumer, JSW Steel, and Tata Motors were the top gainers in the Nifty 50. While M&M, BPCL, Reliance Industries, Axis Bank, and ICICI Bank were the major losers in the Nifty 50 on March 07.

Courtesy: BSE

The sectoral index Nifty Metal rose 2.1% to the intraday high of 8,436.55.

Share of Tata Steel rose 4.5% to hit a new 52-week-high of Rs 158.45. The upper band of the stock is of Rs 166.75.

Tata Steel, Bajaj Auto, Tata Consumer, JSW Steel, and Tata Motors were the top gainers in the Nifty 50. While M&M, SBI Life Insurance, BPCL, Reliance Industries, and ICICI Bank were the major laggards in the Nifty 50 on March 07.

Courtesy: NSE

Shares of Bajaj Auto advanced 31.% to hit a fresh 52-week-high of Rs 8,875. The stock has an upper band of Rs 9,466.35. It touched its 52-week-low of Rs 3,711.05 a year ago.

Shares of Bharti Airtel rose 2.3% to hit a new 52-week-high of Rs 808 after Singapore Telecom sold a 0.8% stake in the company for $711 million. The stock has an upper band of 868.70.

Tata Steel, JSW Steel, Bajaj Auto, UPL, and Hindalco were the top gainers in the Nifty 50. While, M&M, BPCL, SBI Life Insurance, Grasim Industries, and Maruti Suzuki were the key losers in the Nifty 50 on March 07.

Courtesy: NSE index movers

Mukka Proteins IPO hit Dalal Street at Rs 40, a premium of 43% to the issue price. The fish-meal and -oil company raised Rs 224 crores from the investors and was entirely a fresh issue of 80 million shares.

In the grey market, the company’s shares were seeing a whopping premium of 125% to the issue price of Rs 28.

The stock of IIFL Finance rose 10% to hit the upper band of Rs 420.40.

Shares of Mahindra and Mahindra fell 4.4% to the intraday low of Rs 1,884.50. The stock was the major laggard in the Nifty 50. It has a 52-week-low of Rs 1,123.40, which it touched on March 28, 2023. The stock has a lower band of Rs 1,773.60.

JSW Steel, Bajaj Finserv, Power Grid Corp, Bajaj Finance, and UPL were the top gainers in the Nifty 50. While, M&M, ICICI Bank, Britannia, Infosys, and BPCL were the major losers in the Nifty 50 on March 07.

The NSE Nifty touched a fresh lifetime high of 22,523.65. While the 30-stock BSE Sensex hit a new all-time high of 74,245.17.

The NSE Nifty 50 opens up by 0.14% at 22,505.30, while the BSE Sensex gains 0.21% to 74,242.74 in the opening trade.

The NSE has added Manappuram Finance, Mahanagar Gas, and Zee Entertainment Enterprise in F&O on March 7, 2024.

On March 6, 2024, foreign institutional investors (FIIs) acquired shares with a net value of Rs 2,766.75 crore, whereas domestic institutional investors (DIIs) made purchases amounting to a net Rs 2,149.88 crore, as per provisional data provided by the NSE.

Shares in the Asia-Pacific region are trading positively on Thursday morning. The Asia Dow is up by 0.70%, while Japan’s Nikkei 225 is in the green, showing a 0.59% increase. Hong Kong’s Hang Seng index has concluded higher by 1.70%, and the benchmark Chinese index, Shanghai Composite, has closed down by 0.26%.

WTI crude prices are currently at $79.07, reflecting a 0.07% decrease, while Brent crude prices stand at $82.83, indicating a 0.15% decline on Thursday morning.

The US Dollar Index (DXY), gauging the dollar’s value against a basket of six foreign currencies, recorded a 0.05% decline, trading at 103.32.

U.S. stocks experienced an upswing, and bond yields declined following Jerome Powell’s reaffirmation, as anticipated, that the Federal Reserve has no immediate plans to reduce interest rates, as reported by Bloomberg. The Nasdaq Composite, dominated by tech stocks, closed with an increase of 80.63 points or 0.51% at 16,020.22. The S&P 500 saw a gain of 24.96 points or 0.49%, reaching 5,103.61, while the Dow Jones Industrial Average concluded with a rise of 63.48 points or 0.16% at 38,648.67.