Stock Market Special Session Live Updates: Sensex Up 140 Points On Special Trading Session, Nifty At 22,400

The Sensex witnessed an increase of 165.57 points or 0.22%, reaching 73,910.92, while the Nifty displayed a gain of 47.80 points or 0.21%, closing at 22,386.60. Among the listed stocks, 1346 showed advancement, 435 experienced a decline, and 78 remained unchanged.

The market will remain open on March 2, with exchanges conducting a special live trading session in the equity and derivatives segments. This unique session aims to assess the preparedness of the disaster recovery system in case of an emergency, ensuring the smooth functioning of the market under unforeseen circumstances.

In an impressive start to the March Futures and Options (F&O) series, the Nifty 50 soared to all-time heights, closing at 22,339 on March 1. Experts predict that the bullish momentum is likely to propel the index further towards the 22,600 mark, with immediate support levels at 22,200 and 22,000.

The BSE Sensex mirrored the positive sentiment, surging by a staggering 1,245 points, or 1.7%, to settle at 73,745.35. This surge was attributed to the release of better-than-expected third-quarter GDP numbers for the fiscal year 2024. The Nifty 50, on the other hand, climbed 356 points or 1.6%, forming a long bullish candlestick pattern on the daily timeframe, marking a substantial breakthrough of the upward-sloping resistance trendline.

While the benchmark indices celebrated their record-breaking achievements, the broader markets displayed a mixed performance, with the Nifty Midcap 100 and Smallcap 100 indices gaining 0.94% and 0.52%, respectively.

One of the standout performers was the Bank Nifty, which rose by an impressive 2.5%, or 1,166 points, closing at 47,287. Analysts are closely watching as the index approaches its downward-sloping resistance trendline, ranging between 47,500 and 47,600 levels.

Here are the stocks that will remain in focus today:
Torrent Power: The Gujarat-based power company secured a Letter of Award from Railway Energy Management Company (REMCL) to establish grid-connected renewable power projects, with or without storage, for the supply of 100 MW round-the-clock power. The project entails an investment of Rs 2,700 crore.

Aurobindo Pharma: The pharmaceutical giant received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Fingolimod capsules, 0.5 mg, equivalent to the reference listed drug (RLD), Gilenya Capsules of Novartis Pharmaceuticals Corporation.

Infosys: PROG Holdings Inc and Infosys entered into an agreement aimed at enhancing and expanding PROG Holdings' technology operations. This collaboration is set to be an integral part of the company's ongoing cloud- and AI-focused technology modernization and innovation efforts.

Hero MotoCorp: The world's largest manufacturer of motorcycles and scooters reported a robust 19% growth in sales, with 4,68,410 units sold in February 2024 compared to 3,94,460 units in the corresponding month of the previous year.

Asian Paints: The paint manufacturing giant received a letter allotting 166 acres of land in Pithampur, Madhya Pradesh, for the establishment of a new paint manufacturing facility.

Cipla: The United States Food and Drug Administration (USFDA) conducted a pre-approval inspection at the manufacturing facility of Cipla (Jiangsu) Pharmaceutical in Qidong, Jiangsu Province, China, from February 26 to March 1. The inspection concluded with zero Form 483 observations.

Additionally, the NSE added Zee Entertainment Enterprises to the F&O ban list for March 2, citing that derivative contracts had crossed 95% of the market-wide position limit.

In the United States, the Nasdaq Composite surged to an all-time high, surpassing its 2021 record, as investors bet on megacap technology stocks in anticipation of slowing inflation and a forthcoming artificial intelligence boom. The tech-heavy Nasdaq recorded a 1.14% gain, reaching 16,274.94 and hitting a new high of 16,302.24 during the session. The S&P 500 also climbed 0.80% to 5,137.08, marking its first close above the 5,100 threshold. Meanwhile, the Dow Jones Industrial Average gained 0.23%, closing at 39,087.38.

In the European markets, the pan-European Stoxx 600 concluded the session with a 0.6% gain. Tech stocks led the way with a 1.6% increase, while insurance experienced a 0.7% decline. February's flash euro zone inflation reading revealed a slight dip to 2.6% from January's 2.8%, slightly surpassing economists' expectations of a 2.5% reading.

LIVE Feed

Mar 02, 2024, 12:31 pm IST

Closing Updates Of Live Trading Session Today

On Saturday, amidst the Special Live Trading Session, Markets stayed in green today. Sensex surged to 73,817 points, up 1.82% while Nifty rose by 400 Points, reaching 22,380 levels. Top Gainers Tata Steel, HeroMoto Corp, Adani Ports were the top gainers in the hourly session, climbing 3.57%, 1.62% and 1.15% respectively. All sectoral indices traded well, pulled strongly by Nifty Media and Metal index.

Mar 02, 2024, 12:16 pm IST

Ministry of Food Processing Industries Provides Grants-in-aid (GIA) To Vimta Labd Ltd.

Vimta Labd Ltd. has received Grants-in-aid (GIA of Rs. 409.49 lalchs from Ministry of Food Processing Industries, Government of India for up gradation of Food Testing Laboratory at Vimla Life Sciences Facility Plot No.5, MN Science Technology Park, Genome Valley, Shameerpet, Hyderabad, Telangana.

Mar 02, 2024, 11:57 am IST

KP Energy Informs Of Commissioning 29.4MW ISTS connected Wind Power Project In Dwarka

KP Energy has successfully commissioned a further 29.4MW (Phase-VII) ISTS connected Wind Power Project comprising 14 numbers of WTGs of 2.1MW each at the Sidhpur site in Devbhoomi Dwarka. This Phase-VII commissioning is a part of the 250.8MW ISTS-connected Wind Power Project capacity awarded to Apraava Energy Private Limited by Solar Energy Corporation of India Limited (SECI) under Tranche-VIII bidding. KP Energy is developing the Project for Apraava Energy Private Limited as a Contractor under the Land and Balance of Plant Contract. With the present Phase-VII commissioning, the net cumulative capacity commissioned at the Sidhpur site stands at 193.2MW (i.e., 52.5MW + 29.4MW + 25.2MW + 21MW+ 10.5MW + 25.2MW + 29.4MW) against the awarded capacity of 250.8MW.

Mar 02, 2024, 11:40 am IST

H.G. Infra Engineering Limited receives letter of acceptance from South Central Railway

HFIEL, H.G. Infra Engineering Limited has received the letter of acceptance from South Central Railway for the project of doubling of Track between Karanjgaon station (Including) at 69.0 Km & Aurangabad station (Including) at 44.14 Km, including Electrification and Signaling works in connection with AurangabadAnkai Doubling Project in Nanded Division of South-Central Railway.

Mar 02, 2024, 9:59 am IST

Torrent Power Shares Surge Nearly 5% On Order Win

Torrent Power has triumphed as the winning bidder to provide 388 million units (MU) of electricity from its gas-based plant under a government scheme spanning from March 16, 2024, to June 30, 2024, as announced by the company on Friday. Consequently, the stock has witnessed a gain of over 4%.

Mar 02, 2024, 9:48 am IST

Paytm Witnesses Decline In Trading, Dips By 1%

At present, Paytm shares are experiencing a 1% decrease. This follows the imposition of a penalty amounting to Rs 5.49 crore on Paytm Payments Bank Ltd by the Financial Intelligence Unit-India (FIU-IND) on March 1. The penalty was levied due to the bank's breaches of its obligations under the Prevention of Money Laundering Act (PMLA), as stated by the Ministry of Finance in a release.

Mar 02, 2024, 9:45 am IST

Aurobindo Pharma Rises 2% On USFDA's Approval On Multiple Sclerosis Drug

Aurobindo Pharma experienced a 2% surge in its shares following the announcement of the final approval by the US Food and Drug Administration (USFDA) for its multiple sclerosis drug. The approval allows the company to manufacture and market Fingolimod capsules, 0.5 mg. These capsules are both bioequivalent and therapeutically equivalent to Novartis Pharmaceuticals Corporation's reference listed drug (RLD), Gilenya Capsules. The product is set to be launched in March 2024 and is intended for the treatment of patients with multiple sclerosis.

Mar 02, 2024, 9:29 am IST

Hero MotoCorp Shares Soar 2% Following Strong February Sales Data

Hero MotoCorp shares witnessed a 2% surge, reaching Rs 4,577.45 on March 2, following the release of the company's February sales report. The leading manufacturer of motorcycles and scooters in the country reported the sale of 4,68,410 units last month, reflecting a substantial 19% increase compared to the 3,94,460 units sold in the corresponding period last year. Moreover, the company announced plans to enhance the volumes of Harley-Davidson X440 and Mavrick 440. The initial phase of this expansion is anticipated to conclude by the middle of this year. In January 2024, Hero Motocorp recorded the sale of 4,33,598 units, marking a noteworthy 22% growth over January 2023 when 3,56,690 units were sold. Additionally, exports for the month reached 12,664 units, a notable increase from the 7,253 units reported in the same month the previous year.

Mar 02, 2024, 9:24 am IST

Market Opens At Record Highs; Nifty Surpasses 22,400

The Sensex witnessed an increase of 165.57 points or 0.22%, reaching 73,910.92, while the Nifty displayed a gain of 47.80 points or 0.21%, closing at 22,386.60. Among the listed stocks, 1346 showed advancement, 435 experienced a decline, and 78 remained unchanged.

Mar 02, 2024, 8:46 am IST

FII And DII Data From March 1 (Friday)

Foreign institutional investors (FIIs) made a net purchase of shares amounting to Rs 128.94 crore, whereas domestic institutional investors (DIIs) acquired stocks worth Rs 3,814.53 crore on March 1, according to provisional data from the NSE.

Mar 02, 2024, 8:43 am IST

Nasdaq Hits All-time High, S&P 500 Ends Above 5,100 For The First Time

On Friday, the Nasdaq Composite notched a new pinnacle, surpassing its previous 2021 record, as investors bet on mega-cap technology stocks to capitalize on the decelerating inflation and the impending surge in artificial intelligence. The tech-centric Nasdaq exhibited a 1.14% upswing, reaching 16,274.94 and reaching a new zenith of 16,302.24 within the session. This marked the index's initial record closure since November 2021, achieved just a day after closing at its first record since that date. Simultaneously, the S&P 500 exhibited a 0.80% climb, concluding at 5,137.08, marking its primary closure beyond the 5,100 mark. The Dow Jones Industrial Average also saw an increase of 90.99 points, or 0.23%, concluding the day at 39,087.38. Nvidia, the prominent chipmaking giant that spearheaded the tech rally with an astonishing surge of over 260% in the last 12 months, garnered another 4% increase on Friday. Meta also experienced an upward surge, exceeding 2% for the day.

Mar 02, 2024, 8:41 am IST

Gold Hits 2-month High Amid Expectations Of Imminent US Rate Cuts

Initiating March on a positive trajectory, gold prices surged to a two-month peak on Friday, fueled by subdued economic data that solidified anticipations of a US interest rate reduction by June. Spot gold experienced a 2.1% increase, reaching ,086.21 per ounce by 1:50 pm EST (1850 GMT), marking the highest level since late December. The precious metal was poised for a second consecutive weekly gain. Concurrently, US gold futures settled approximately 2% higher at ,095.7.

Mar 02, 2024, 8:39 am IST

Crude Prices Soar To Four Month High Ahead Of OPEC+ Meet

US crude oil futures reached per barrel for the first time in almost four months, indicating a tightening market in anticipation of an upcoming OPEC+ decision on production cuts. The West Texas Intermediate contract for April experienced a 2.19% increase, equivalent to .71, settling at .97 per barrel on Friday. This marks the highest closing price for US crude since November 6. In parallel, May Brent futures also saw a gain of 2.09%, or .71, reaching .94 per barrel. Both US crude and the global benchmark recorded a second consecutive monthly increase in February. This was evident as near-month contracts traded at a premium to later months, a typical indication of a tightening oil market.

Mar 02, 2024, 8:36 am IST

GIFT Nifty Suggests A Positive Opening For Indian Market

Indications from the GIFT Nifty point towards a positive initiation for the wider index in India, reflecting a rise of 60 points or 0.27%. Nifty futures are currently trading in the vicinity of the 22,511 level.