CLOSING BELL: The Rs 15,446 cr stake buy by GQG Partners in Adani Group, coupled with positive global cues buoyed sentiment on Friday. Heavyweights RIL, ITC and Airtel also rallied up to 3 per cent.

Stock broker

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	<strong>Stock Market Highlights: </strong>Domestic markets rallied smartly in trades on Friday, as positive global cues coupled with the Rs 15,446 crore stake buy by GQG Partners in Adani Group boosted sentiment. The Group shares along with PSU Banks and select index heavyweights were the major gainers.</div>
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	The S&P BSE Sensex soared to a high of 59,967, and ended with a gain of 900 points at 59,809. In the process, the BSE benchmark was up 345 points for the week. <a href="https://www.business-standard.com/article/markets/bulls-ride-sensex-over-850-points-higher-here-are-top-3-reasons-why-123030300355_1.html?1677828028" target="_blank">HERE&rsquo;s WHAT DROVE THE RALLY</a></div>
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	The NSE Nifty 50 touched a high of 17,645, before signing-off at 17,594 - up 272 points. The Nifty was up 128 points for the week.<br />
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		&quot;The market had more reasons to cheer today than to worry about concerns regarding inflation. PSU Banks led the sectoral rally as reports of foreign investments in Adani stocks helped the sector in recouping the dampened sentiments. The sentiment was further lightened as FIIs turned in strong buyers. Positive global sentiments also played a vital role in uplifting the market, as a Fed official commented on a favourable level of rate hike in the next meeting.&quot;, said Vinod Nair, Head of Research at Geojit Financial Services in a note.&quot;, said Vinod Nair, Head of Research at Geojit Financial Services in a note.</div>
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	<strong>Adani Group & PSU Banks Sizzle</strong></div>
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	Shares of Adani Group logged strong gains on the bourses after US-based GQG Partners acquired stake worth Rs 15,446 crore in four of the group companies. The promoters plan to use the proceeds to retire debt and other purposes.&nbsp;</div>
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	Shares of the flagship firm - Adani Enterprises soared 17 per cent to Rs 1,879. The stock has now skyrocketed over 70 per cent from its low of Rs 1,103 hit on Tuesday. Adani Ports surged 9.7 per cent. Adani Power, Adani Green, Adani Transmission, Adani Wilmar, Adani Total Gas and NDTV were locked at the 5 per cent upper limits. ACC and Ambuja Cements too gained around 5 per cent each. <a href="https://www.business-standard.com/article/markets/adani-group-shares-rally-up-to-10-as-gqg-partners-buy-rs-15-446-cr-stake-123030300190_1.html?1677819181" target="_blank">READ MORE</a></div>
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	The positive sentiment had a spillover effect on PSU Banks. The Nifty PSU Bank index soared 5.4 per cent to 3,970. UCO Bank and Union Bank galloped over 8 per cent each. Maharashtra Bank, Punjab & Sind Bank, Indian Overseas Bank, Bank of India and Indian Bank rallied over 6 per cent each. SBI and Canara Bank vaulted over 5 per cent each. <a href="https://www.business-standard.com/article/markets/nifty-psu-bank-index-surges-nearly-4-after-rebound-in-adani-group-stocks-123030300297_1.html?1677821999" target="_blank">READ MORE</a></div>
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	Among the other Nifty 50 stocks, Bharti Airtel jumped 3.3 per cent. SBI Life, Tata Steel, ITC, Reliance Industries and IndusBank Bank were up over 2 per cent each. On the flip side, Tech Mahindra slipped 2 per cent. UltraTech Cement and Cipla were the other notable losers.</div>
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	The broader indices lagged in terms of overall gains on Friday. The NSE Midcap and Smallcap indices were up 0.8 per cent each, while the benchmark Nifty 50 added 1.6 per cent.</div>
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	Apart from the Nifty PSU Bank index, the Metal index surged 3.5 per cent. The FMCG and Realty indices too were up over a per cent each.</div>
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	<strong>Primary Market Update</strong></div>
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	Divgi TorqTransfer Systems IPO was subscribed 5.4 times as of 04:15 PM on final day of the offer. The retail portion received bids of over 4 times of the alloted quota. QIBs was subscribed 7.8 times, and HNIs 1.4 times.</div>
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Sensex soars 900 pts, Nifty ends near 17,600; PSBs, Adani Group stks sizzle

Business Standard

Sensex soars 900 pts, Nifty ends near 17,600; PSBs, Adani Group stks sizzle | News on Markets - Business Standard

SGX Nifty suggests gap up open to trade, up 100pts

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Asian indices mirror overnight gains in US; rise up to 1%

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Relief rally sparks Wall Street, indices close up to 1% higher

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Good morning readers! Stay tuned for live market updates with Business Standard

Stay tuned for live market updates with Business Standard

Adani Group shares zoom up to 17% as GQG Partners picks stake in four firms

Shares of Adani group companies rallied up to 17 per cent on the BSE on Friday after the promoters sold shares worth Rs 15,446 crore in four of its listed entities to GQG Partners, a US-based global equity-investment boutique firm. <a href="https://www.business-standard.com/article/markets/adani-group-shares-rally-up-to-10-as-gqg-partners-buy-rs-15-446-cr-stake-123030300190_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Nifty PSU Bank index surges 5.4%; Union Bank, UCO Bank gallop over 8%

Shares of PSU Banks logged solid gains on Friday amid a sharp rebound in Adani group stocks. <a href="https://www.business-standard.com/article/markets/nifty-psu-bank-index-surges-nearly-4-after-rebound-in-adani-group-stocks-123030300297_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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BSE Midcap Heatmap:: Union Bank, PolicyBazaar soar up to 8%; Yes Bank sheds 3.6%

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	<img align="left" alt="chart" class="imgCont" height="296" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-03/03/full/1677839140-3239.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="620" />
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Sensex 30 Heatmap:: SBI, Airtel, RIL, ITC top gainers char; Tech Mahindra slips

CLOSING BELL:: S&P BSE Sensex jumps 900 points to settle at 59,809

Imagicaaworld zooms 27% in two days after launching Aquamagicaa in Surat

The company said business continues to show an excellent rebound after two years of adverse COVID-19 impact as well as overall improvement in the health of operations. <a href="https://www.business-standard.com/article/markets/imagicaaworld-zooms-27-in-2-days-after-launching-aquamagicaa-in-surat-123030300660_1.html?1677836291" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="stock market, markets, brokers, trading, nse, bse, sensex, nifty, rally, coronavirus, covid, lockdown" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-02/09/full/1612811807-2748.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="stock market, markets, brokers, trading, nse, bse, sensex, nifty, rally, coronavirus, covid, lockdown" width="620" /></div>
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MARKET CHECK: Sensex near day's high; holds gain of 1,000 points

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IPO UPDATE: Divgi TorqTransfer's offer fully subscribed on last day

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WPIL soars 10% on securing Rs 1,225 cr order from Madhya Pradesh Jal Nigam

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	Meanwhile, in the past one month, the stock of the industrial products company has zoomed 83 per cent after it reported robust December quarter (Q3FY23) results. <a href="https://www.business-standard.com/article/markets/wpil-soars-10-on-securing-rs-1-225-cr-  order-from-madhya-pradesh-jal-nigam-123030300549_1.html?1677831792" target="_blank"><strong>READ MORE</strong></a><br />
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		<img align="" alt="stocks, india inc, markets, investment, shares, dividends, brokers, shares, company, firms, BSE, exchange, earnings, results, profit, loss, dividend payout, tax" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2020-11/14/full/1605294660-0711.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="stocks, india inc, markets, investment, shares, dividends, brokers, shares, company, firms, BSE, exchange, earnings, results, profit, loss, dividend payout, tax" width="620" /></div>
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Bulls drive Sensex over 850 points higher: Here are top 3 reasons why

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	The spike comes after the US Federal Reserve Atlanta President Raphael Bostic vouched for a measured rate hike approach, which strengthened global sentiments. <a href="https://www.business-standard.com/article/markets/bulls-ride-sensex-over-850-points-higher-here-are-top-3-reasons-why-123030300355_1.html?1677828028" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="Illustration: Ajay Mohanty" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-09/27/full/1632681743-2937.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Markets, Sensex, Nifty, Stock markets" width="620" /></div>
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Escorts, Bajaj-Auto: Trading strategies for auto stocks post Feb sales nos

The Nifty Auto index has remained a laggard in the February, post missing to reach a new historic peak. The index touched 13,539-mark, just 5 points shy of a new all-time high. Now, as the automobile companies released their sales numbers, which largely appeared mixed on the weak export numbers, the index is expected to be in the spotlight for coming sessions. <a href="https://www.business-standard.com/article/markets/escorts-bajaj-auto-trading-strategies-for-auto-stocks-post-feb-sales-nos-123030300390_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Buy, Sell, markets, stocks, shares, investments, mutual funds, investors" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-04/13/full/1618336139-1053.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Buy, Sell, markets, stocks, shares, investments, mutual funds, investors" width="620" /></div>
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Techno Electric surges 9% on healthy growth outlook

The management expects growth momentum of business as well as execution to continue for the coming three years. <a href="http:// https://www.business-standard.com/article/markets/techno-electric-surges-9-on-healthy-growth-outlook-123030300372_1.html?1677824849" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Stock market rally, bull trading, Sensex, nifty" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-03/04/full/1614804310-798.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Stock market rally, bull trading, Sensex, nifty" width="620" /></div>
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BSE 500:: Adani Group, JSW Energy, Finolex Cables among top gainers

Adani Enterprises up nearly 14 per cent was the top gainer among the BSE 500 stocks so far on Friday. It was followed by Adani Ports, JSW Energy, Punjab &amp; Sind Bank and Finolex Cables, up 7 - 8 per cent each. <a href="https://www.business-standard.com/stocks/market-statistics/bse/top-gainers?indices=21552" target="_blank"><strong>VIEW MORE</strong></a><br />
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	<img align="left" alt="chart" class="imgCont" height="419" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-03/03/full/1677825965-642.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="620" /></div>
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Nifty PSU Bank index surges 4% amid rebound in Adani group stocks

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	SBI, Bank of Baroda, Punjab &amp; Sind Bank, Union Bank of India, UCO Bank, Bank of India, Bank of Maharashtra and Indian Overseas Bank were up 4 - 7 per cent each. <a href="https://www.business-standard.com/article/markets/nifty-psu-bank-index-surges-nearly-4-after-rebound-in-adani-group-stocks-123030300297_1.html?1677821999" target="_blank"><strong>READ</strong><br />
	<img alt="Illustration: Binay Sinha" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-01/17/full/1673973864-3565.jpg?im=Resize,width=640" /></a></div>

ALERT: India February Services PMI at 59.4 vs 57.2 in January

Alembic Pharma slips 5%; board approves Rs 1,150 cr as impairment charges

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	This one time impairment impact notwithstanding, we believe this move bodes well for future return ratios and profitability. We expect more impairments in due course, ICICI Securities said in a note. <a href="https://www.business-standard.com/article/markets/alembic-pharma-slips-5-board-approves-rs-1-150-cr-as-impairment-charges-123030300227_1.html?1677819289" target="_blank"><strong>READ</strong><br />
	<img alt="Alembic Pharma slips 5% on Rs 1,150 cr impairment charge for 3 Guj plants" src="https://bsmedia.business-standard.com/_media/bs/img/article/2013-03/06/full/1362573550-8521.jpg?im=Resize,width=640" /></a></div>

Two Fed officials warn they may need to lift rates to a higher peak

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	Waller&#39;s speech followed comments by Atlanta Fed President Raphael Bostic, who told reporters that he still favored raising rates by 25 basis points in March but was open to lifting borrowing costs. <a href="https://www.business-standard.com/article/international/two-fed-officials-warn-they-may-need-to-lift-rates-to-a-higher-peak-123030300155_1.html?1677818864" target="_blank"><strong>READ</strong><br />
	<img alt="Christopher Waller" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-03/03/full/1677813837-0403.jpg?im=Resize,width=640" /></a></div>

MARKET CHECK: Sensex extends gains; rallies over 550 points

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Adani group shares rally up to 10% as GQG Partners buy Rs 15,446 cr stake

Shares of Adani group companies rallied up to 10 per cent on the BSE in Friday&rsquo;s intra-day trade after the promoters sold shares worth Rs 15,446 crore in four of its listed entities to GQG Partners, a US-based global equity-investment boutique firm. <a href="https://www.business-standard.com/article/markets/adani-group-shares-rally-up-to-10-as-gqg-partners-buy-rs-15-446-cr-stake-123030300190_1.html?1677816877" target="_blank"><strong>READ</strong><br />
<img alt="Adani, Adani Group" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-02/15/full/1676425501-5556.jpg?im=Resize,width=640" /></a>

Angel One gains 3% as client base rises 52% YoY in February

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	&gt;&gt; Client base up 3.4% MoM &amp; up 52.2% YoY at 13.33 million</div>
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	&gt;&gt;Gross client acquisition up 15% MoM &amp; down 0.4% YoY at 0.45 million</div>
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	&gt;&gt;Average client funding book down 6.8% MoM &amp; down 20.7% YoY at Rs 1,299 crore</div>

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Natco Pharma up 2%; board to mull share buyback on March 8

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Alembic Pharma slides 1%; co to take impairment charge of Rs 1,150.4 crore on 3 new plants

The company will take an impairment charge of Rs 1,150.43 crore on three manufacturing plants that are under construction in Gujarat. It said the new plants are likely to generate less cash than expected and their profitability is hit by price erosion in the US, high-interest rates and USFDA approval delays.&nbsp;

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MOIL gains 3%; Feb Manganese Ore sales grew 19 per cent YoY

Production rose 10% YoY to 1.31 lakh tonnes.

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All sectors hold gains; PSB pocket rallies 3.5%

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Adani Ent, Adani Ports lead Nifty gains; rally up to 9%

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HEATMAP: SBI jumps around 3%; Asian Paints trails most

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OPENING BELL: Nifty zooms 120 pts to 17,450

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OPENING BELL: Sensex opens with over 350 pts gain

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CURRENCY ALERT: Rupee appreciates 35 paise to open at 82.24/$