Stock Market Today: Sensex, Nifty Log Fourth Week Of Gains As Bajaj Auto, Bharti Airtel Lead
Keep up with March 7 stock market developments here.
KEY HIGHLIGHTS
Rupee Closes Stronger Against U.S. Dollar
The local currency strengthened by 4 paise to close at 82.79 against the U.S. Dollar.
It closed at 82.83 on Wednesday.
Source: Bloomberg
Sensex, Nifty Log Fourth Week Of Gains As Bajaj Auto, Bharti Airtel Lead: Closing Bell
Benchmark equity indices ended flat after hitting their new highs in the second consecutive session today led by gains in the shares of Bajaj Auto and Bharti Airtel.
The Nifty 50 ended at 22,493.55, higher by 19.50 points or 0.09%, and the Sensex ended at 74,119.39, up 33.40 points or 0.04 points. Intraday, the Nifty hit a high of 22,525.65 points and the Sensex hit a high of 74,245.17 points.
As we proceed, the banking sector will likely face some challenges in the coming period, said Kushal Gandhi, technical analyst at StoxBox. "The liquidity crunch may create obstacles to credit growth. The intense deposit competition may keep the cost of income elevated."
"Equity benchmark indices edged higher after hitting a record high amid a firm trend in the US market and FII inflows," said Vinod Nair, head of research at Geojit Financial Services. "Moreover, faster than expected economic growth for the current fiscal year boosted sentiments for metal and capital goods stocks."
Shares of ITC Ltd., Tata Steel Ltd., Tata Consultancy Services Ltd., Larsen & Toubro Ltd., and Tata Motors Ltd. contributed the most to the gains.
Meanwhile, those of Reliance Industries Ltd., ICICI Bank Ltd., Mahindra & Mahindra Ltd., Axis Bank Ltd., and Kotak Mahindra Bank Ltd. dragged the indices.
On a weekly basis, Nifty PSU Bank gained the most followed by Nifty Pharma and Nifty Energy. Nifty Media and Nifty IT fell.
Broader markets outperformed benchmark indices. The S&P BSE Midcap index ended 0.39% up, and the S&P BSE Smallcap settled 0.70% higher.
Market breadth was skewed in favour of the buyers. Around 2,107 stocks rose, and 1,704 stocks declined, and 110 remained unchanged on BSE.
Steel Exchange Gets Letter Of Support From NMDC
Gets letter providing commitment for 2.5 MTPA of iron ore from CY26
Source: Exchange filing
SJVN Gets LoA For 1,352 MW Solar Power Projects
Projects under Mukhya Mantri Saur Krushi Vahini Yojana
Solar projects to be developed at an investment of Rs 7,436 cr
Solar projects to be developed in Nashik, Pune, Solapur and Ahmednagar districts in Maharashtra
Source: Exchange filing
Coal India has 10.1 lakh shares change hands in a large trade
10.1 lakh shares or 0.02% equity changed hands in a large trade
Buyers and sellers not known immediately
Source: Exchange Filing
