Stock Market News: Top Things to Know Before Market Opens

The Indian stock market ended on a positive note on March 14, 2024. At close, Sensex was up 335 points at 73,097.28 while Nifty added 149 points and ended the session at 22,146.65. Around 2,722 stocks advanced and 1,153 declined while 83 stocks remained unchanged. Except for bank, all other sectoral indices ended in the green with telecom, power, oil & gas adding 3 percent each, while auto, capital goods, FMCG, Information Technology, healthcare and metal up 1-2 percent.

GIFT Nifty

Trends on GIFT Nifty indicate a negative start for the Indian indices.

Global Markets

US Markets

The Dow Jones Industrial Average fell Thursday and snapped a 3-day win streak after the release of hotter-than-expected US inflation data sent Treasury yields higher, while Nvidia shares were under pressure. The S&P 500 fell 0.29% to close at 5,150.48. The Dow Jones Industrial Average pulled back 137.66 points, or 0.35%, to finish the session at 38,905.66, while the Nasdaq Composite slipped 0.3% to 16,128.53, according to a CNBC.com report.

Also read: HUL, Narayana Hrudayalaya Top 2 Stocks Which Can Fetch Good Returns

Asian Markets

Asia-Pacific markets fell Friday after producer prices in the US grew faster than expected in February, coming in at 0.6% last month. Japan’s Nikkei 225 fell 0.4% at open, while the Topix edged 0.3% higher. South Korea’s Kospi shed almost 1%, while the smaller-cap Kosdaq dropped 0.9%, according to a CNBC.com report.

Stocks in the news

• Wipro: The IT has agreed with Desjardins to modernize consumer banking services using its NetOxygen Platform. The solution will improve Desjardins’ consumer lending and credit card business.
• One97 Communications (Paytm): The National Payments Corporation of India (NPCI) has approved One97 Communications, Paytm’s parent entity, to participate in UPI services as a third-party application provider (TPAP) under a multi-bank model.
• Bharat Electronics Limited (BEL): The company announced that it has received an order valued at Rs 1,092 crore from Larsen & Toubro Limited (L&T) for the supply of Communication and Electronic Warfare (EW) sensors and systems.
• Crompton Greaves Consumer Electricals: The company has bagged orders from the Government of Maharashtra, Haryana, and Rajasthan for the supply, installation, testing, and commissioning of solar photovoltaic water pumping systems (SWPS) with PV modules under the PM-KUSUM Scheme.
• RailTel Corporation of India: The company has received a work order from the Odisha Computer Application Centre (OCAC) amounting to Rs 113.46 crore. It will establish IP-MPLS network connectivity in Odisha under OdishaNet Phase 1.0.
• JSW Energy: JSW Neo Energy Ltd, a company unit of JSW Energy, received a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam (GUVNL) for a 300 MW solar capacity project at Khavda RE Park in March 2024.
• Ashok Leyland: Private equity firm Creador has invested $50 million in Hinduja Tech, the engineering R&D services company and a subsidiary of Ashok Leyland, to acquire 19.6 percent of the company’s shareholding.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,356.29 crore. Domestic institutional investors (DIIs) purchased Rs 139.47 crore worth of stocks on March 14, provisional data from the NSE showed.

Bulk Deals

• Sundaram Clayton Limited: Venu Srinivasan sold 14,16,247 shares at Rs 1239.99 per share.
• Sundaram Clayton Limited: SBI Mutual Fund bought 7,74,000 shares at Rs 1240 per share.
• Gopal Snacks Limited: Quant Small Cap Fund bought 8,05,000 shares at Rs 374.21 per share. Quant Mutual Fund Active Fund bought 7,00,000 shares at Rs 374.21 per share.
• Mold-Tek Packaging Ltd: Goldman Sachs Funds – Goldman Sachs India Equity Portfolio sold 2,36,368 shares at Rs 804.98 per share.

Stock under F&O ban on NSE

The NSE has added BHEL to the F&O ban list for March 15. It retained Aditya Birla Fashion & Retail, Manappuram Finance, National Aluminium Company, Piramal Enterprises, RBL Bank, SAIL, Tata Chemicals and Zee Entertainment Enterprises on the said list.

Disclaimer: The content of this blog post is intended solely for informational purposes and should not be interpreted as investment or trading advice. The author does not assure the accuracy or completeness of the information presented. Any decisions or actions taken based on the content of this blog post are undertaken at your own risk.