Domestic indices extended the previous session’s gains and opened the week on a positive note. The BSE Sensex surged 594.79 pts or 0.99% to 60,403.76 and NSE Nifty 50 climbed 174.90 pts or 0.99% to 17,769.25. Bank Nifty rose 380.45 pts to 41,631.80. The top gainers on Nifty 50 were Adani Enterprises (up 13.22%), Adani Ports (up 4.72%), HCL Tech (up 2.14%), Power Grid (up 1.64%) and HDFC (up 1.51%) while Britannia (down 2.13%), Cipla (down 1.09%), Dr Reddy (down 0.24%), JSW Steel (down 0.07%) and Maruti (down 0.05%).
Bajaj Electricals shares rose 2.61% to Rs 1131.90 after the company bagged the award for plant and installation services of distribution infrastructure of electric supply circle across districts in Bihar. The aggregate sum of the contract is Rs 645 crore and the project shall take 30 months to complete
Sectoral Indices
Most of the sectoral indices were trading in the red. Bank Nifty rose 0.95%, PSU Bank advanced 1.19%, Nifty IT was up 1.36%, Nifty Realty climbed 0.53%, Nifty Pharma was up 0.33% and Nifty Auto rose 0.68%.
Asian and US stock markets
Asian markets were trading mixed with China’s Shanghai Composite index falling 0.21%, Hong Kong’s Hang Seng dropping 0.28% while Japan’s Nikkei 225 rose 1.17%, and South Korea’s KOSPI climbed 0.53%.
The US markets ended Friday’s session broadly in green with Dow Jones Industrial Average rising 1.17%, S&P 500 surging 1.61% and the tech-heavy Nasdaq skyrocketing 1.97%.
FII and DII data
Foreign institutional investors (FII) bought shares worth Rs 246.24 crore, while domestic institutional investors (DII) acquired equities worth Rs 2,089.92 crore on 3 March, according to the provisional data available on the NSE.
NSE F&O Ban
The National Stock Exchange has put no stock/security in its F&O ban list for Monday, 6 March. According to the NSE, stocks are prohibited in the F&O sector once they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.