INDIAN EQUITY MARKET REVERSED AFTER THE LOSSES FROM TWO CONSECUTIVE SESSION

Domestic equity market ended the day with a positive note amid a jump in Brent crude oil price along with positive sentiments around the progress of the US stimulus package.Net Selling of FII/FPI was at Rs. 1,494.49 crore while net buying of DII was at Rs.483.62 crore. The Sensex gained 35.75 points, or 0.07 percent, to close at 50,441.07 with shares like L & T, ONGC, HCL Tech, NTPC, Axis Bank, Infosys, SBI, Mahindra & Mahindra ,Tech Mahindra ,Sun Pharma Were having gains of 3.43%,2.96%, 2.22%, 1.66%, 1.60%, 1.54%, 1.50%, 0.95%, 0.94%, 0.64% respectively whereas shares of Bajaj Finance, IndusInd Bank, Ultratech Cement, Bajaj Auto, HDFC, Titan, Bharti Airtel were having loss of 2.22%, 2.05%, 1.81%,1.40%, 1.31%, 1.29%, 1.26% respectively . The Nifty ended at 14,956.20, up 18.10 points, or 0.12 percent with Indexes like Energy, Media, Metal, IT, Pharma, Bank Indexes were having gains of 1.14%, 1.01%, 0.81%, 0.47%, 0.39%, 0.14% respectively while Realty, FMCG,Auto Indexes were the losers with a loss of 1.05%, 0.51%, 0.16% respectively.

TOP STOCKS IN NEWSCAST:

L & T surged 3% as Goldman Sachs has added engineering and construction major Larsen & Toubro to its conviction list as continuing of government's capital expenditure, low interest rates and the Make in India initiative are expected to boost the private sector capital expenditure cycle.

ONGC gained nearly 3% as Brent crude futures surged above $70 a barrel for the first time since the Covid-19 pandemic began, following reports of attacks by Yemen's Houthi forces on Saudi Arabian facilities.

NTPC rose nearly 2% as the company announced a special recruitment drive for women executives on the eve of women’s day.

SBI jumped over 1% as State Bank of India (SBI), offering further cheer to women borrower on International Women's Day, has announced reduction of interest on home loans by further basis points.