Closing Bell: Market Ends At Record Levels For 2nd Consecutive Day; Nifty Nears 22,400 Mark

Following the special trading session on March 2 (Saturday), the Sensex edged higher by 0.08% at 73,806.15, while the Nifty gained 0.17%, closing at 22,376.30. The market witnessed 2,277 shares in the green, 867 in decline, and 85 holding steady.

Leading the Nifty 50 gainers were Tata Steel, Hero MotoCorp, Tata Motors, Adani Ports, and JSW Steel. Adani Ports, in particular, stood out, trading nearly 0.8% higher after hitting its 52-week high earlier in the day.

The Nifty Metal index claimed the spotlight as one of the top sectoral gainers, surging by 1.55%. Tata Steel continued its stellar performance, extending its gains to over 2%, reaching a 52-week high during today's special trade session.

Nalco shares were abuzz, recording a 2% increase, with a 100% gain over the past year. Meanwhile, SAIL marked its second consecutive day in the green, climbing 2.33% at the moment.

HG Infra, the infrastructure giant, received a letter of acceptance for a project from the South Central Railway valued at Rs 447 crore. This significant development adds to the positive momentum in the market.

Aurobindo Pharma received final approval from the US FDA to manufacture and market Fingolimod Capsules, 0.5 mg. These capsules, set to launch in the US market this March, cater to patients with relapsing forms of multiple sclerosis, offering a promising treatment option.

ICICI Lombard General Insurance acquired a 0.7% stake in Kotak Mahindra Bank, investing Rs 245 crore. Simultaneously, the company issued equity shares under the ICICI Lombard Employees Stock Option Scheme-2005, showcasing confidence in its future growth.

Torrent Power emerged as the successful bidder to supply 388 million units of electricity from its gas-based plant under a government scheme. This initiative aims to address the high power demand expected during the summer months, emphasizing the critical role of private players in power distribution.

Nykaa, the Indian beauty retail giant, celebrated a momentous occasion with the opening of its first-ever beauty retail store, Nysaa, in Dubai. This venture, in partnership with the Apparel Group, offers a diverse selection of over 150 international brands and more than 10,000 products at City Centre Mirdif.

On the flip side, Paytm shares experienced a 1% dip following the imposition of a Rs 5.49 crore penalty by the Financial Intelligence Unit-India (FIU-IND). The penalty, attributed to violations of obligations under the Prevention of Money Laundering Act (PMLA), was announced by the Ministry of Finance on March 1.