Upbeat Q3 GDP Data Lifts Sensex, Nifty to Record Highs; Bank, Auto, Metals Shine


by Sandip Das on 1 March 2024,  5 min read


The Indian stock market jumped intraday on March 1, 2024. This comes after upbeat Q3 GDP data. The Indian economy grew 8.4 percent during the October-December quarter of the current financial year 2023-24 (Q3FY24). It remained the fastest-growing major economy in the world, according to gross domestic product (GDP) data released by the Statistics Ministry on February 29, 2024. At 11:24 AM, Sensex was up 792 points at 73,292.59 while Nifty jumped 243 points and was trading at 22,226.55.

Around 1,748 stocks advanced and 675 stocks declined while 100 stocks remained unchanged.

Among the sectors, Metal, Bank Nifty, Auto, and Oil & Gas were up 0.5-2 percent.

Top Nifty50 Gainers
Company Name Last Traded Price (Rs) % Change
Tata Steel 147.2 4.51
JSW Steel 832 3.99
BPCL 623.85 3.31
Larsen & Toubro 3588.3 3.18
Hindalco Industries 519.15 3.04
Top Nifty50 Losers
Company Name Last Traded Price (Rs) % Change
Britannia Industries 4923.35 -0.84
Cipla 1468.45 -0.80
HCL Tech 1654.8 -0.54
LTI Mindtree 5280.3 -0.39
Apollo Hospitals 6083.9 -0.29
Stocks on Move
Tata Investment Corporation: up 3.8%

Tata Investment Corporation shares gained a day after the Union Cabinet approved three semiconductor plant proposals. Two of these would be set up by Tata Group. Two of the three plants will be built in Gujarat and one in Assam at an estimated cost of Rs 1.26 lakh crore. The Tata Group will set up plants in Gujarat and Assam, while Murugappa Group-owned CG Power will set up a plant in Gujarat. The construction of the three plants will begin within 100 days, IT minister Ashwini Vaishnaw said.

Also read: Mukka Proteins IPO: Top Things to Know Before Subscribing to The Issue
One97 Communications: up 3.5%

Shares of Paytm gained over 4 percent on March 1 after the fintech’s board gave its approval for the discontinuation of several inter-company agreements with its associate entity, Paytm Payments Bank Limited (PPBL).

In a regulatory filing, Paytm informed that the company and its associate PPBL have introduced ‘additional measures to strengthen their approach towards independent operations of PPBL.’

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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