Domestic equity Market has shown a positive sign supported by banking, IT and financial stocks witnessing a strong momentum during the closing part of the trade.Net buying of FII/FPI was at Rs.2,801.87 crore while net buying of DII was at Rs.1250.22 crore. The Sensex ended 584.41 points, or 1.16 percent higher at 51,025.48 with shares of Kotak Bank, HDFC Bank, ICICI Bank, HDFC, Tech Mahindra, Bajaj Finance, Asian Paints, TCS, Bajaj Finserve,HCL Tech were having gains of 3.35%, 2.85%, 2.80%, 2.68%, 2.04%, 1.72%, 1.68%, 1.42%, 1.39%, 1.13% respectively while shares of Powergrid, ONGC, NTPC, Dr. Reddy, Bharti Airtel, SBI, Sun Pharma, L& T, ITC were having losses of 1.97%, 1.23%, 1.00%, 0.95%, 0.77%, 0.53%, 0.52%, 0.37%, 0.14% respectively. The Nifty gained 142.20 points, or 0.95 percent to close at 15,098.40 with Indexes like Bank, IT, FMCG with having gains of 1.67%, 0.92%, 0.08% respectively while Metal, Media, Energy, Realty, Pharma, Auto Indexes were having losses of 2.51%, 1.43%, 1.35%, 1.09%, 0.87%, 0.41% respectively.
TOP STOCKS IN NEWSCAST:
Kotak Mahindra Bank surged over 3% as the Board of Directors of the bank will meet on March 12 to consider the declaration and payment of dividend on 1,00,00,00,000 numbers, 8.10 percent non-convertible perpetual non-cumulative preference shares of face value of Rs 5 each.
HDFC Bank gained nearly 3% as the bank announced the launch of mentoring programme 'SmartUp Unnati' to support women entrepreneurs.
Tech Mahindra rose over 2% as the company as achieved System and Organization Control (SOC) 2 type 2 attestation for BPS and IT services. The SOC 2 report reinforces Tech Mahindra’s commitment towards safeguarding customers security, privacy, availability and confidentiality across all services globally.