CLOSING BELL: Sectorally, the Nifty Pharma index was the best performing index, rising 2.5 per cent on the NSE. The Nifty Auto index, on the other hand, slipped 0.4 per cent

Market LIVE: Sensex, Nifty consolidate; pharma, financials firm; autos slip

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		<b>CLOSING BELL</b><br />
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			Benchmark indices bucked the weak Asian trend and rose on Friday as the Assembly elections&#39; euphoria extended into a second day. However, developments around the Ukrainian war, commodity prices, and the US inflation data kept the markets volatile through the day.</div>
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			The S&P BSE Sensex hit a high of 55,834 in early deals but eased off to end at 55,550, up 86 points or 0.15 per cent. The Nifty50, on the other hand, settled at 16,630, up 35 points or 0.2 per cent.</div>
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			The breadth was well-balanced as equal number of stocks advanced and declined on both the frontline indices. The gainers included Cipla, Sun Pharma, BPCL, JSW Steel, Dr Reddy&#39;s Labs, IOC, Power Grid, Coal India, and ITC, while the losers were Nestle India, Maruti Suzuki, Tata Consumer Products, Tata Steel, Britannia, Axis Bank, Hindalco, NTPC, Eicher Motors, and TCS.</div>
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			In the broader markets, the Midcap index (up 0.45 per cent) and the Smallcap index (up 0.87 per cent) on the BSE outperformed the benchmarks.&nbsp;</div>
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			Among individual stocks, shares of <strong>BSE Ltd</strong> hit a record high of Rs 2,868 after they rallied 10 per cent on the National Stock Exchange (NSE) in Friday&#39;s intra-day trade. <a href="https://www.business-standard.com/article/markets/bse-extends-rally-zooms-52-in-10-days-stock-hits-record-high-122031100207_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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			That apart, shares of <strong>paper companies</strong>, including JK Paper, Tamil Nadu Newsprint & Paper, West Coast Paper Mills, Ruchira Papers and Star Paper Mills rallied up to 14 per cent on Friday, amid heavy volumes, on expectation that re-opening of offices, educational institutions, and courts will lead to regularization of demand. <a href="https://www.business-standard.com/article/markets/paper-stocks-rally-jk-paper-tn-newsprint-west-coast-surge-up-to-14-122031100489_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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			<strong>Sugar stocks</strong>, too, were on a roll on Friday with frontline stocks like Balrampur Chini Mills, Triveni Engineering & Industries, Dhampur Sugar Mills, Avadh Sugar & Energy and Dwarikesh Sugar Industries hitting their respective record highs. These shares rallied up to 11 per cent each in the intra-day trade on strong outlook and foreign institutional investors (FIIs) buying. <a href="https://www.business-standard.com/article/markets/sugar-stocks-on-roll-balrampur-triveni-dhampur-dwarikesh-at-new-highs-122031100633_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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			Sectorally, the Nifty Pharma index was the best performing index, rising 2.5 per cent on the NSE. The Nifty Auto index, on the other hand, slipped 0.4 per cent.</div>
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			<strong>Global markets</strong></div>
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			European markets nudged higher on Friday, as global investors assessed soaring US inflation and a hawkish surprise from the European Central Bank, while continuing to track developments in Ukraine. The pan-European Stoxx 600 added 0.5 per cent in early trade, with travel and leisure stocks climbing 2.4 per cent to lead gains.</div>
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			Dow Jones, S&P500, and Nasdaq Composite Futures, on Wall Street, added about 0.2 per cent each.</div>
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			Asian stocks, however, ended with cuts on Friday amid fears of U-delisting of Chinese shares in the US. Hang Seng fell 1.6 per cent, Nikkei dropped 2 per cent, and Kospi slipped 0.7 per cent.</div>
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Sensex adds 86 pts; GNFC, JK Paper surge 12% each, auto stocks slide

Business Standard

Sensex adds 86 pts; GNFC, JK Paper surge 12% each, auto stocks slide | News on Markets - Business Standard

Govt invites Indian drone manufacturers to apply for PLI

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Gali Mohalla Pahunchega Udan Khatola<br>Aimed at leveraging the untapped potential of Indian Drone industry to fulfill PM’s vision of <a href="https://twitter.com/hashtag/AatmanirbharBharat?src=hash&amp;ref_src=twsrc%5Etfw">#AatmanirbharBharat</a>, MoCA invites Indian drone manufacturers to apply for Production Linked Incentive (PLI)<br>(1/2) <a href="https://t.co/l5WAAwhuFp">pic.twitter.com/l5WAAwhuFp</a></p>&mdash; MoCA_GoI (@MoCA_GoI) <a href="https://twitter.com/MoCA_GoI/status/1502159101325082624?ref_src=twsrc%5Etfw">March 11, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Auto stocks take a backseat; Tata Motors tumbles over 2%

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Sarda Energy surges 6%, hits all-time high on healthy earnings outlook

Shares of Sarda Energy &amp; Minerals hit a record high of Rs 1,024.95, surging 6 per cent on the BSE in Friday&rsquo;s intra-day trade on expectation of healthy earnings going ahead. <a href="https://www.business-standard.com/article/markets/sarda-energy-surges-6-hits-all-time-high-on-healthy-earnings-outlook-122031100276_1.html" target="_blank"><strong>Read more</strong></a><br />
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MARKET CHECK: Nifty flat; slips in the red territory

MARKET CHECK: Sensex turns choppy, erases all gains

Market view: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

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		An important takeaway from the sustained FII selling is that it is not impacting the market much. For instance FPIs sold IT equity worth Rs 10984 cr in February. But this month IT index has outperformed. This trend is likely in financials too where FPIs have been major sellers since last October. Investors can use the present weakness in markets to accumulate high quality financials.</p>
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BSE extends rally, zooms 52% in 10 days; stock hits record high

Shares of BSE Ltd hit a record high of Rs 2,848.40 after they rallied 8.7 per cent on the National Stock Exchange (NSE) in Friday&#39;s intra-day trade. <a href="https://www.business-standard.com/article/markets/bse-extends-rally-zooms-52-in-10-days-stock-hits-record-high-122031100207_1.html" target="_blank"><strong>READ MORE HERE</strong></a><br />
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SmallCaps outperforming MidCaps; India Vix slips in red

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JSPL gains after company announced interim dividend of Re 1

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Lupin abuzz after launching reference laboratories across Eastern India

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Rupee opens little changed at 76.32 per US dollar vs Thursday&#39;s close of against 76.31/$

IT stocks extend decline; Mindtree, L&T Infotech at bottom of the heap

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FMCG stocks see profit-booking; Tata consumer slips over 1%

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Bank stocks stage a turnaround; Axis, AU SFB lead

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Broader market check :: BSE SmallCap index outshine, quotes 0.86% up

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