The market opened on a positive note following the positive global markets on Friday. US GDP data and a decline in the unemployment claims boosted market sentiments. After falling for two consecutive days,
Sensex and
Nifty moved higher on Friday with Sensex ending above 49,000 while Nifty 50 zoomed to cross 14,500 today.
The Nifty Bank Index ended higher at 33,318 adding 0.94%. Amongst the top gainers were- HDFC Bank at Rs 1491 adding 1.91% followed by PNB at Rs 36 (1.41%), ICICI Bank at Rs 578 (1.22%), IDFC First Bank at Rs 57 (0.87%), SBI at Rs 357 (0.56%). Axis Bank at Rs 698 (0.52%). while all major indices ended on a positive note, Induslnd Bank and Bandhan bank ended red.
Nifty Financial Services ended higher at 15,717 adding over 1.57%. Amongst the biggest gainers were Bajaj Finserv at Rs 9,467 adding over 4.53% followed by Chola Invest. at Rs 554 (3.19%) HDFC at Rs 2,532 (2.51%), Bajaj Finance at Rs 5,183 (1.19%), Indiabulls Hsg at Rs 197 (1.20%).
Other key takeaways
SEBI’s new rules on startups, delisting, ESG and more
The SEBI has approved a raft of measures including more transparent and efficient delisting of shares, reporting of sustainability issues by companies and provisions to make it easier for startups to go public.
In its board meeting on March 25, the market regulator also mandated public disclosure of analyst calls, quick reporting of earnings, and expanded the requirement of setting up a Risk Management Committee to the top 1,000 listed companies by market capitalisation from the existing to 500 listed entities
Suryoday Small Finance Bank debuts at 4% discount to issue price
Suryoday Small Finance Bank share price started off the first day of trading at a 4.2 percent discount at Rs 292 on March 26 on the National Stock Exchange, amid weak market conditions and muted subscription to IPO.
The Rs 582.34 crore public issue was subscribed 2.37 times during March 17-19, the lowest subscription amongst IPOs closed in 2021. The stock opened at Rs 293 on the BSE, down by 3.93 percent compared to issue price of Rs 305.
Market on Thursday
It was the second successive day of losses for the Indian market on March 25 amid unsupportive global cues and selling across sectors on the F&O expiry day. At close, the Sensex was down 1.51%, at 48,440.12 and the Nifty was down 1.54%, at 14,324.90. Nifty PSU Bank, FMCG, auto, infra, IT and energy indices declined 2-3 percent. Broader markets mirrored the benchmarks, as BSE midcap and smallcap indices fell 1.8-2.2%.
Stocks rebound in late-day rally on Wall Street
US stocks rose in a late-day rally on Thursday as investors bought stocks likely to do well in the recovery and picked up beaten-down Apple and Tesla shares in anticipation that the US economy grows at its fastest pace in decades this year.
The Dow Jones Industrial Average rose 199.42 points, or 0.62%, to 32,619.48. The S&P 500 gained 20.38 points, or 0.52%, to 3,909.52 and the Nasdaq Composite added 15.79 points, or 0.12%, to 12,977.68.
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