Sensex, Nifty Edge Higher Led by IT, Private Banks; Realty Stocks Tumble


by Sandip Das on 12 March 2024,  5 min read


The Indian stock market was trading in the green following positive Asian cues. At 1:41 PM, Sensex was up 318 points at 73,821.04 while Nifty gained 47 points at 22,379.60.

Around 593 stocks advanced and 3,243 declined while 91 stocks remained unchanged.

Among the sectors, buying was seen in IT and private banks. Selling was witnessed in realty which declined over 3 percent followed by PSU Bank, FMCG, and metal indices.

Top Nifty50 Gainers
Company Name Last Traded Price (Rs) % Change
HDFC Bank 1461.75 2.38
TCS 4186.7 1.56
LTI Mindtree 5195.75 1.42
Maruti Suzuki 11495.85 0.88
Infosys 1612 0.71
Top Nifty50 Losers
Company Name Last Traded Price (Rs) % Change
Cipla 1461.95 -2.80
Grasim Industries 2177.85 -2.64
Adani Enterprises 3138 -2.16
Bajaj Auto 8494 -1.91
State Bank of India 759.7 -1.81
Asian markets edge higher

Hong Kong’s Hang Seng index rose over 3% to lead gains in Asia-Pacific markets and was set to extend its winning streak to three days while mainland China’s CSI 300 rose 0.23% to close at 3,597.49, according to a report.

Also read: Popular Vehicles & Services IPO: Check Out Price Band, Issue Size & More

Japan’s Nikkei 225 slipped for a second straight day, losing 0.06% and closing at 38,797.51. The broad-based Topix was down 0.36% and ended at 2,657.24.

Stocks on the move
ITC: BAT Eyes Stake Sale

ITC shares experienced a decline in early trading on March 12 due to reports indicating that British American Tobacco (BAT) is planning to sell a portion of its stake in the company, possibly within the week. BAT, based in London and holding the largest stake in ITC, has reportedly enlisted the services of Wall Street giants, including Bank of America and Citigroup, to facilitate the divestment. The plan involves selling shares valued at approximately $2.5 billion through a block deal, as disclosed by sources familiar with the situation.

SpiceJet: Down 7.5%

On March 12, shares of SpiceJet experienced a significant drop of 9.7 percent, reaching Rs 54.6 per share. This decline followed reports indicating that the Chief Operating Officer (COO), Arun Kashyap, and Chief Commercial Officer (CCO), Shilpa Bhatia, have submitted their resignations from the company.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment.

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