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Stock Market Today: Sensex, Nifty End 1% Higher Ahead Of RBI's Monetary Policy Decision

Stock Market Today: Sensex, Nifty End 1% Higher Ahead Of RBI's Monetary Policy Decision
The National Stock Exchange Building. (Source: BQPrime; Photographer: Vijay Sartape)
3 years ago
The S&P BSE Sensex Index closed up 418 points or 0.99% at 59,689.31 while the NSE Nifty 50 Index was higher by 159 points or 0.91% at 17,557.05.

  • R S Sodhi has joined Reliance Retail in an advisory role to build Reliance's grocery business.

  • This comes at a time when Reliance is aggressively expanding its FMCG business and is planning to tap the general trade in a short time.

  • Source: People aware of the matter

The broader market indices opened higher; S&P BSE MidCap was unchanged, whereas S&P BSE SmallCap was higher by 0.76%.

Fourteen out of the 19 sectors compiled by BSE advanced, while S&P BSE Energy, S&P BSE Utilities, S&P BSE Auto, S&P BSE Oil and Gas, and S&P BSE Power declined in trade.

The market breadth was skewed in the favour of buyers. About 2,406 stocks rose 945 declined, and 130 remained unchanged on the BSE.

Services PMI rises to 57.8 in March from 59.4 in February.

Source: S&P Global

  • Sonata Software Ltd. has announced the appointment of Suresh HP as Chief Delivery Officer.

  • In this role, Suresh HP will spearhead Sonata’s global delivery strategy, enablement, and excellence across all verticals and businesses.

  • Source: Exchange Filing

  • H.G. Infra Engineering Ltd. has received 'Letter of Acceptance' for a construction project from Rail Vikas Nigam.

  • Company's bid for the project was Rs 466.11 crore, while Rail Vikas estimated a project cost of Rs 535.15 crore.

  • The project includes construction works in the Bhanupali-Bilaspur-Beri new railway line in Bilaspur district of Himachal Pradesh.

  • The construction period of the project will last 30 months.

  • Source: Exchange filing

The broader market indices opened higher; S&P BSE MidCap was up 0.10% whereas S&P BSE SmallCap was higher by 0.41%.

Thirteen out of the 19 sectors compiled by BSE advanced, while six sectors declined in trade.

The market breadth was skewed in the favour of buyers. About 1,694 stocks rose 723 declined, and 134 remained unchanged on the BSE.

Source: BSE

At pre-open, the S&P BSE Sensex Index was down 12 points or 0.02% at 59,094.71 while the NSE Nifty 50 Index was higher by 25 points or 0.14% at 17,422.30.

Source: Bloomberg

The yield on the 10-year bond opened 3 bps lower at 7.28% in trade on Wednesday. It closed at 7.31% on Monday.

Source: Bloomberg

  • The local currency appreciated 26 paise to open at 82.07 against the greenback.

  • It closed at 82.33 on Monday.

  • Source: Bloomberg

  • With approximately 339 MMT in FY23, the company recorded a 9% annual growth, the largest port cargo volumes ever.

  • Mundra continues to be India’s largest seaport with ~155 MMT of total cargo handled in FY23.

  • The container rakes handled during the year grew 24% annually, crossing a new milestone of 5-lakh Twenty Equipment Units.

  • Company's capability to maintain deep draft ports enables a reduction in overall logistics cost.

  • Source: Exchange filing

  • Vedanta's unit Bharat Aluminium Company Ltd. (BALCO) will source 105 MW hybrid renewable power for its aluminium operations at Chhattisgarh.

  • It will execute deal via affiliates of Serentica Renewables India Pvt. Ltd., a special purpose vehicle.

  • The project will be funded on 70:30 debt to equity basis and BALCO will own 26% of equity in the SPV.

  • The term of the agreement will be for a period of 25 years from date of commissioning.

  • Source: Exchange filing

  • Total disbursements grew 151% annually, the highest-ever at Rs 6,370 crore, in Q4FY23, with the Direct Digital Program contributing 81% to the total disbursements share.

  • Assets under management grew 37% annually to approximately Rs 16,120 crore. Asset quality is also expected to improve in Q4FY23.

  • Company continues to have liquidity of approximately Rs 3,000 crore.

  • Source: Exchange filing

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